Shares of Philip Morris Int'l (PM) Tumble Following Downside Guidance
Tweet
Share
E-mail
Get Alerts PM Hot Sheet
Join SI Premium – FREE
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.
You May Also Be Interested In
- FDA authorizes 11 ZYN Ultra nicotine pouches for Philip Morris
- ScanSource (SCSC) Tops Q4 EPS by 32c
- Analog Devices (ADI) Tops Q3 EPS by 11c, Beats on Revenue; Offers Q4 Guidance
Create E-mail Alert Related Categories
Earnings, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
