Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

MO 57.96

-0.7%

Dec 5 9:30 AM EST

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To: Hopkins who wrote (4050)	6/28/1999 4:41:00 PM
From: Duker	Read Replies (1) of 6439

Philip Morris international unit sees shortfall NEW YORK, June 28 (Reuters) - Philip Morris Cos. Inc. (NYSE:MO - news) said Monday that volume and profits from its international tobacco business will not meet full-year expectations, with second-quarter volume dropping 6 percent. Paul Hendrys, president and chief executive of Philip Morris International Inc., told analysts in New York that a reduction in volume, the impact of duty-free sales and a weak euro led to the expected shortfall. Speaking at parent company Philip Morris' first meeting for analysts in about two years, Hendrys said that the unit ''will not quite meet expectations'' for 1999 volume and income. Full year volume is expected to fall about 4 percent, Hendrys said. No further details were immediately available.

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