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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Geoff who wrote (2430)	9/30/1998 5:10:00 PM
From: Geoff	Read Replies (1) \| Respond to of 6439

Ask and ye shall receive: At 3:17 MO put a statement out that Reuters carried... Philip Morris sees no need for warning NEW YORK, Sept. 30 (Reuters) - Philip Morris Co. Inc., the world's largest tobacco company, said Wednesday it sees "no need at the present time" to warn about its third-quarter profits. The statement came a day after rival RJR Nabisco Holdings Corp (NYSE:RN - news) issued a profit warning, saying the economic conditions in Russia and neighboring countries had hurt its R.J. Reynolds International tobacco unit. Wall Street expects Philip Morris, maker of top-selling Marlboro brand, to earn $0.83 in the third quarter, according to First Call, which tracks analysts consensus estimates. "We see no need at the present time to issue any warnings about earnings," said Philip Morris spokesman Chris Kircher, reading a statement. Without providing details, Kircher said volumes in Russia and Asia had been affected by the shaky economic conditions in those regions. But Kircher said the bulk of the company's international business is in developed markets including western Europe. Business in those markets remains "as strong as ever," Kircher said. The company's stock was down 3/8 at 46-5/8 in afternoon trading on the New York Stock Exchange.