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.

[SheLion]

The way PM treats the smokers, I personally hope they go broke.

Philip Morris sues over Internet cigarette sales

Phillip Morris Wants The FDA to regulate cigarettes

[SheLion]

The company also said its business was hurt by an increased flow of cheap imported cigarettes and higher promotional spending.

LOL! Cheap imports? Higher Promotional Spending? Gosh, I thought they were working with the ANTI'S to STOP promoting their product!

[vikingcelt]

Being the capitalistic, smoking, shareholder of MO that I am, I DO NOT WANT them to go broke!!! Where does all this ridiculous hatred of Philip Morris come from anyway?

[SheLion]

Where does all this ridiculous hatred of Philip Morris come from anyway?

You haven't been keeping up with the shoddy way they treat the people who bought their legal product all these years to make them what they are today. Now they want to bite off the hands that fed it.

[LisaFab]

Really! These people hate and villify MO in a media-induced, knee-jerk reaction. Yet they probably blissfully take their children to Disneyland, unmindful of a corporation that is killing the morals of this country.

MO is a great American company!

[angcat]

yes you are correct about disney. I worked for MO in rybrook NY for 8 years so i am stuck with the stock.

[LisaFab]

Is it true what they say about there still being ash trays in the offices? I almost did a project in that building and was told stories of free smokes...true?

I am still a proud owner of MO. FMCDH!

[dixiechick2000]

"The way PM treats the smokers, I personally hope they go broke."

You ought to see the way they treat retailers.
It ain't purty...

[AdA$tra]

The way PM treats the smokers, I personally hope they go broke.

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.

[angcat]

when i left 10 years ago there was no smoking in office we never received free smokes we received some coffee samples but they were very generous with functions and entertainment. The building was beautiful but at the time half empty because of another white plains office. now i hear everyone is in ryebrook. We had restarants and underground parking it was like a hotel. What kind of project were you going to do?

[SheLion]

You ought to see the way they treat retailers.

Oh boy. Can you tell me in 100 words or less? I can add it to my research I am doing about them. heh!

[SheLion]

I don't think we are on the same page. Smokers made PM what they are today, and yet PM toots the horn and kiss up to the anti's. PM said they WANT the FDA to regulate cigarettes! This is insane.

PM said they do not WANT to go against the ANTI health fascist. If you have studied the tactics of PM over the past several years, you will know they could care less about anyone but themselves. Smokers hate PM.

[LisaFab]

I worked for a structured cable management company that had a bid to map (using Aperture) the building's cabling phone-line and hardware assets.

[BfloGuy]

"The way PM treats the smokers, I personally hope they go broke.

This is a very silly statement.

Humans are thinking beings. You must stop confusing the instrument of someone's damaging habit with the decision to use it.

Now, I'm gonna go light up.

[SheLion]

You must stop confusing the instrument of someone's damaging habit with the decision to use it.

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

[angcat]

are you in the westchester area now. I left PM to relocate to PA. My old department was eliminated and alot of my coworkers took packages or became moms and left.

[LisaFab]

I live in Stamford, CT, home of Holy Joe Leiberman.

[angcat]

good ol stamford we use to drink and eat at the showboat is it still there? My sister had a friend on redmont road, beautiful houses.

[kcordell]

Smokers hate PM.

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

[LisaFab]

Showboat is actually in Greenwich, next town down. Still there and still beautiful. Stamford is the town with the hideous train station and all the downtown yuppie bars. Me, I hang out in the neighborhood bars with the real folk.:-)