Philip Morris International Inc. (PM) has been showing bullish signals with consistent positive news. Billionaire
Stan Druckenmiller is increasing his stakes in PM, citing a strategic move. The company's stocks have witnessed a
70% rise, outperforming industry peers on strong trading days. PM is also gaining support from hedge funds and investing entities such as
Searle & CO and
Panagora Asset Management, who have bought significant portions of PM's stock. More importantly, PM has reported the
Q1 2024 earnings, beating revenue expectations but lagging behind in EPS. This has led to the adjustment of full year guidance, raising expectations. Philip Morris'
smoke-free business and its nicotine product,
ZYN, are seeing increasing profits. The company has invested heavily in expanding ZYN production, and the market seems to be responding favorably. In a bid to expand its production capabilities, Philip Morris' Swedish Match affiliate is said to be adding 450 jobs with a $232 million investment. Unfortunately, the company has underperformed in some areas, showing lesser gains compared to competitors on certain trading days. The company's stock is viewed as a top pick for dividends in 2024 by billionaire
Paul Tudor Jones.
Philip Morris International PM News Analytics from Thu, 08 Feb 2024 08:00:00 GMT to Sun, 01 Sep 2024 13:05:07 GMT -
Rating 8
- Innovation 2
- Information 9
- Rumor -1
