Philip Morris Lowers 2002 Estimates Shares Decline GOOD!!

Yahoo News ^ | 26 September 2002

[SheLion]

New York (AP) -- Philip Morris Companies Inc. said its 2002 earnings will grow between 3 percent and 5 percent, which is significantly below analysts expectations, sending its shares swooning in after-hours trading.

Analysts surveyed by Thomson First Call predicted the consumer products giant would earn $4.82 a share, up 19.3 percent from the $4.04 a share Philip Morris earned in 2001.

The company said numerous factors were eating into growth including weakness in the U.S. cigarette market stemming from the floundering economy, and increased state taxes. The company also said its business was hurt by an increased flow of cheap imported cigarettes and higher promotional spending.

Earlier this month, R.J. Reynolds reduced its earnings guidance for the third quarter and full-year, saying it had to spend more on promotions to counter a high-priced campaign by Philip Morris.

In the current quarter, however, Philip Morris said profits were holding up. The company, which also owns Kraft Foods, said it would earn $1.26 a share in the third quarter, besting analysts estimates by one penny. It also said 2003 earnings should advance between 8 percent and 10 percent.

Still, investors focused on the negative news. In after-hours trading Thursday, Philip Morris shares were down more than 11 percent to $37.82. In regular trading on Thursday, Philip Morris shares closed up 3 percent, or $1.25, at $42.73 on the New York Stock Exchange.

[BfloGuy]

"I can tell you haven't been following PM's tactic against the smokers lately.

No, admittedly, I have not.

If, however, it only amounts to an attempt to protect the company against lawsuits from sick smokers, then I'd probably agree with it.

If the company is truly trying to undermine its current customers somehow, then I'd be quite curious.

[Great Dane]

It's good to hear, and by the way, doesn't that decrease the amount of blood money the states get. ?

[Great Dane]

You make it sound like they hold them down and blow smoke in their faces. Smokers make a decision to smoke, Drinkers choose to drink, Bungee jumpers choose to jump. It is supposed to be the right of all Americans to choose their own bungee chords.

You are completely missing the point, it has nothing to do with smoking....... geezzzz, you would think people would keep themselves informed if they want to debate an issue.

[angcat]

nice chatting with you LisaFab hold on to that MO stock i know i will.

[SheLion]

Only the ones who want to blame someone else for their poor decisions and those who want to get rich by doing so.

No, that's not what I am saying. PM is trying to ruin the adults who smoke and pretending that they are a goody-good Company! When in truth, they were the first ones to fall to their knees in front of the Attorney Generals for the MSA.

[SheLion]

It's good to hear, and by the way, doesn't that decrease the amount of blood money the states get. ?

Wouldn't that be wonderful? Heh!

[dixiechick2000]

You have FReepmail.

[AdA$tra]

geezzzz, you would think people would keep themselves informed if they want to debate an issue.

How many "uninformed" FReepers do you really know. If you are a smoker and don't like PM's businees practices then smoke cigarettes made by Microsoft.

[SheLion]

You have FReepmail

Thank you! You have mail, as well.

[putupon]

Blaming the company that sells people what they want just exposes someone as a person with no willpower and not enough character to admit when they have made a mistake. Quitting smoking is not that hard if you want to quit smoking. Anyone who doesn't quit just doesn't want to quit It is a shame that the culture in our country has de-evolved to the point where the worst examples of our species will reap the greatest reward. A fat, smoking, drunk somewhere will be soon be more wealthy than Bill Gates because he will have sued Phillip Morris, Anhieser Busch, Krispy Kreme, and MacDonalds.

[SheLion]

How many "uninformed" FReepers do you really know. If you are a smoker and don't like PM's businees practices then smoke cigarettes made by Microsoft.

and

Smokers United

[SheLion]

Excuse me, but if you don't know what we are talking about, then I would appreciate no nasty remarks here.

We have threads in here for smoking Conservatives. We keep each other informed and educated on what is happening with the smoking issue. We are not in here to bash, trash and flame people.

We smoke and we VOTE!

[vikingcelt]

You're STUCK with the stock? What on earth is wrong with being "stuck" with the stock? MO is a great company, they make great products, they pay a great dividend. How sad that you must be "stuck" with the stock. You could always sell it you know.

[putupon]

We smoke and we VOTE!

So tell me what you are talking about. I don't care whether you smoke or not, I do care when someone assaults the largest employer in my home town and wants to put more people out of work.

[AdA$tra]

I can tell you haven't been following PM's tactic against the smokers lately.

Maybe you have been smokin' something...LOL The only thing PM does to the idiot smokers is make money off of them. If anything they RELY on smokers to keep the lights on at PM. They do well, America does well. GM does well, America does well. ETC.

[SheLion]

So tell me what you are talking about. I don't care whether you smoke or not, I do care when someone assaults the largest employer in my home town and wants to put more people out of work.

PM's press releases:

The company said the sites had also broken various statutes about cigarette taxation and importation.

could therefore harm efforts by public health groups

Philip Morris, the nation’s largest cigarette manufacturer and historically a leading opponent of tobacco regulation, has broken with the rest of the industry and is embracing the government intervention it has spent decades fighting.

And the Public Health Groups they are talking about are the Nico-Nazi's that are banning smoking in every privately owned business across the US.

[AdA$tra]

We smoke and we VOTE!

You've seen the bumper stickers: "We Vote Pro Smoke"

[KS Flyover]

"... then smoke cigarettes made by Microsoft."

Do I have to drive clear to Topukey to find these?

[SheLion]

You've seen the bumper stickers: "We Vote Pro Smoke"

No! I haven't seen that one.

[SheLion]

Do I have to drive clear to Topukey to find these.

Probably!