Philip Morris International Inc
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Consumer Staples : Tobacco | Large Cap Value
Company profile

Philip Morris International Inc. is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada. The Company's portfolio of international and local brands is led by Marlboro. Its mid-price brands are L&M, Lark, Merit, Muratti and Philip Morris. Its other international brands include Bond Street, Chesterfield, Next and Red & White. The Company also owns various local cigarette brands, such as Dji Sam Soe, Sampoerna and U Mild in Indonesia; Champion, Fortune and Jackpot in the Philippines; Apollo-Soyuz and Optima in Russia; Morven Gold in Pakistan; Boston in Colombia; Belmont, Canadian Classics and Number 7 in Canada; f6 in Germany; Delicados in Mexico; Assos in Greece, and Petra in the Czech Republic and Slovakia.

Closing Price
$74.45
Day's Change
-0.41 (-0.55%)
Bid
--
Ask
--
B/A Size
--
Day's High
75.37
Day's Low
74.31
Volume
(Below Average)
Volume:
3,823,431

10-day average volume:
4,637,869
3,823,431

Financial stocks fall in face of stock market's rally, as Citigroup and Schwab help drag the sector down

11:05 am ET September 15, 2020 (MarketWatch)
Print

Financials were the only sector not participating in the broader stock market rally, as selloff in shares of Charles Schwab Corp. (SCHW) and Citigroup Inc. (C) dragged the group down. The SPDR Financial Select Sector ETF (XLF) slipped 0.4% in morning trading, with 37 of 66 equity components trading lower, while the S&P 500 rose 0.9%. Citigroup's stock sank 4.0% to pace the decliners, adding to the 5.6% drop on Monday, to put it on track to close at a 4-month low. The stock sold off Monday after The Wall Street Journal reported (https://www.wsj.com/articles/regulators-prepare-to-reprimand-citigroup-for-failing-to-improve-risk-systems-11600107587?mod=searchresults&page=1&pos=6) that regulators were preparing to reprimand the bank for failing to improve its risk-management systems, which comes after the bank mistakenly made a $900 million payment (https://www.wsj.com/articles/citigroup-feuds-with-hedge-funds-over-botched-payment-11599493534) to creditors of Revlon Inc. (REV). The WSJ report said being in regulators's crosshairs helped accelerate the retirement plans of Chief Executive Michael Corbat (http://www.marketwatch.com/story/citigroups-stock-underperformed-by-a-wide-margin-during-ceo-corbats-reign-2020-09-10). Meanwhile, Schwab's stock slid 3.0% after the discount broker provided a downbeat revenue outlook (http://www.marketwatch.com/story/charles-schwabs-stock-drops-after-downbeat-revenue-outlook-2020-09-15). Among other more-active components of the financial ETF, shares of Bank of America Corp. (BAC) lost 1.6% and J.P. Morgan Chase & Co. (JPM) slid 1.4%, while Wells Fargo & Co. (WFC) gained 0.5%

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 15, 2020 11:05 ET (15:05 GMT)

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