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Strong quarter results and M/A transactions push forward tobacco companies

Tobacco giant Philip Morris (PM) released robust financial results yesterday. Revenue amounted to USD 6.9 bn, while analysts expected USD 6.7 bn. If we exclude exchange rate fluctuations, revenue rose 6% y-o-y. EPS increased 16% y-o-y (excluding exchange rate fluctuations) to USD 1.24, outpacing consensus by 12%. M/A deal in the beer sector between SABMiller и Anheuser-Busch InBev was recently announced. Another tobacco giant Altria Group (MO) owns a 25% stake in SABMiller. This deals boosted the company’s shares. So, we wait for the company’s report on October 29. Another giant Reynolds American (RAI) will release its financial results on October 27. Let’s look forward to strong reports and continuing rally.