Philip Morris shares have been under severe pressure since April. Philip Morris International Inc., the maker of Marlboro cigarettes, has cut its full-year profit forecast because of the impact of the currency crises in Argentina and Turkey. What’s more, the global decline in cigarette sales was moderating slightly. Analysts at UBS estimate a 4 percent reduction in global cigarette sales in 2018, double the yearly average decline over the past decade. The company tried to reassure investors on Thursday, saying that the IQos sales volumes were two years ahead of its forecast.

Source: Mint September 27, 2018 14:37 UTC