Market Overview

Philip Morris Smoked After Q3 Miss

Related PM
The 12 Biggest Earnings Reports From Thursday
A Peek Into The Markets: US Stock Futures Tumble Ahead Of Earnings
My Update On Philip Morris' Cigarette Volume Declines (Seeking Alpha)

Philip Morris International Inc. (NYSE: PM) shares are trading lower by $4.00 (3.6 percent) at $108.51 in Thursday's session.

Before the open, the company reported a Q3 EPS miss of 11 cents along with a sales miss of $23 million. That marks the fourth consecutive EPS miss. On the sales front, the company has missed Wall Street estimates in seven of its last eight quarters.

After a much lower open, Philip Morris managed a slight bounce to $109.64 before continuing its move lower. The ensuing decline took the stock to $107.62 and has rebounded back into the mid-$108.00 handle. That low coincides with its Feb. 27 low of $107.23.

Posted-In: Technicals Intraday Update Movers Trading Ideas


Related Articles (PM)

View Comments and Join the Discussion!

Analyst Sees 243% Upside For Corbus Pharma Following Positive Clinical Data

EBay: Slow Progress Better Than No Progress