Shares of Philip Morris Int'l (PM) Tumble Following Downside Guidance
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Price: $188.23 -1.72%
Financial Fact:
Provision for income taxes: 764M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Provision for income taxes: 764M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of Philip Morris International (NYSE: PM) have dropped sharply intraday on a Q4 earnings beat, but concerning FY09 outlook. Philip Morris International sees FY09 EPS of $2.85-$3.00, which is well below the Street's current consensus estimate of $3.43.
Notably, shares of Philip Morris International actually started in the positive territory, but as the Q4 results hit the wires, traders began selling the stock aggressively. The stock was down as much as 7%, but value buyers have since stepped in, and the stock is now down just 4.5%, most recently trading around $36.60.
Notably, shares of Philip Morris International actually started in the positive territory, but as the Q4 results hit the wires, traders began selling the stock aggressively. The stock was down as much as 7%, but value buyers have since stepped in, and the stock is now down just 4.5%, most recently trading around $36.60.
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