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Actionable news in PM: PHILIP MORRIS INTERNATIONAL Inc,

Philip Morris Boosts Outlook as Profit Falls

Philip Morris International Inc., owner of Marlboro and other brands, boosted its earnings forecast for...

For 2016, the cigarette maker raised its forecast earnings to a range of $4.40 to $4.50 a share on a reported basis, up from prior guidance of $4.25 to $4.35 a share, which includes special items. Still, the company’s expectations were below Wall Street’s projections; analysts polled by Thomson Reuters had anticipated $4.48 in earnings.

Philip Morris also said it expects most growth to come in the second half of the year, particularly in the fourth quarter.

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