Why Phillip Morris International Stock Fell Today
Philip Morris International (NYSE: PM) stock lost ground in Tuesday's trading following the company's latest earnings report. The tobacco giant's share price fell 3.8% in the session and had been down as much as 10% at one point in the session. Meanwhile, the S&P 500 ended the day roughly flatly in line with yesterday's level.
Philip Morris published its third-quarter results before today's daily trading session began. Despite delivering sales and earnings results that beat expectations and a raise for full-year guidance targets, the stock lost ground today.
Image source: Getty Images.
Source Fool.com
