FINWIRES · TerminalLIVE
FINWIRES

$PM

24 stories mentioning PM

Every FINWIRES story that references PM, newest first.

Wire

Philip Morris Italia Penalized for Misleading 'Smoke-Free' Product Marketing

Philip Morris (PM) was fined 7 million euros ($8.09 million) by Italy's Competition Authority for unfair commercial practices related to the marketing of its smoke-free tobacco products, the regulator said Wednesday.The authority said Philip Morris Italia's use of terms such as "smoke-free," "smoke-free products," and references to a "smoke-free future" could mislead consumers, including minors, into believing the products are harmless to health or less harmful than conventional tobacco products.The regulator said current scientific and clinical knowledge does not support claims that combustion-free tobacco products are harmless or less harmful, noting in particular the presence of nicotine. It ordered Philip Morris Italia to report within 60 days on measures taken to end the practice.Price: $181.09, Change: $+2.60, Percent Change: +1.46%

$PM
Wire

Philip Morris International's US Launch of Zyn Ultra Seen as Potential Catalyst, Morgan Stanley Says

Philip Morris International's (PM) launch of Zyn Ultra nicotine pouches in the US will be a potential catalyst for the stock, Morgan Stanley said in a note emailed Wednesday.In an investor conference Tuesday, the company said it is launching Zyn Ultra in the US this month in 9- and 11-milligram strengths across a range of flavors similar to the original Zyn offerings, which was largely expected after the Food and Drug Administration's new enforcement guidance for nicotine pouches and e-vapor products, according to the note.Philip Morris also stated that its heat-not-burn category in Japan has been roughly matching its expectations, with IQOS holding its market share even after a significant excise tax-driven price increase on April 1, the firm noted.Morgan Stanley said it projected above-consensus growth for the stock in the medium term driven by the continued momentum of IQOS globally, the Zyn Ultra launch pushing US growth, and the planned roll-out of IQOS ILUMA in the US.Morgan Stanley maintained the company's stock rating at overweight and raised the price target to $200 from $190.Price: $176.41, Change: $+2.75, Percent Change: +1.58%

$PM
Research

Citic Securities Upgrades Philip Morris International to Buy From Add

Philip Morris International (PM) has an average rating of overweight and mean price target of $192.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$PM
Equities

S&P 500 Ekes Out Seventh Consecutive Weekly Gain as Energy Leads

The Standard & Poor's 500 index edged up 0.1% this week, its seventh consecutive weekly gain, as a strong advance in energy stocks helped outweigh declines in other sectors.The S&P 500 ended the week at 7,408.50, up slightly on the week but down from the new closing high it reached Thursday at 7,501.24. The market benchmark also hit a new intraday high on Thursday at 7,517.12.The seven-week win streak is the index's longest since a nine-week run that ended in December 2023. The S&P 500 is now up 2.8% for the month and has climbed 8.2% in 2026.The week's advance was driven by gains in only four of the S&P 500's 11 sectors, led by energy amid surging oil prices on the back of renewed Middle East worries. Consumer staples, technology and health care also rose this week.Declines across the remaining seven sectors came amid inflation concerns.US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz, data released this week showed. Another report showed US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures.The energy sector jumped 6.8%, followed by gains of at least 1% each in consumer staples, technology and health care.Occidental Petroleum (OXY) and Targa Resources (TRGP) had the largest percentage gains in the energy sector for the week, rising 12% and 9.6%, respectively.The climb in consumer staples was led by shares of tobacco companies Philip Morris International (PM) and Altria Group (MO), which added 11% and 7.3%, respectively.The technology sector's gain came amid enthusiasm for artificial intelligence as Cisco Systems (CSCO) reported higher-than-expected quarterly results, boosted by strong demand for its AI infrastructure. Cisco's shares jumped 22% as the company reported fiscal Q3 earnings and sales above market expectations and raised its full-year guidance.On the downside, consumer discretionary fell 3.1%, followed by a 2.6% drop in real estate, a 2.3% loss in materials, and a 2.1% decline in utilities. Industrials fell 1.1% while communication services and financials also edged lower.Norwegian Cruise Line Holdings (NCLH) was among the hardest-hit stocks in consumer discretionary. The cruise operator's shares fell 9.1% as TD Cowen cut its price target on the stock to $22 each from $27. The firm kept its investment rating on the shares at buy.Next week, a number of retailers will report quarterly earnings, including Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's (LOW), TJX (TJX), and BJ's Wholesale Club (BJ). Other companies on the week's earnings calendar include NVIDIA (NVDA), Analog Devices (ADI), Intuit (INTU) and Deere (DE).Economic data will include April pending home sales, housing starts and building permits, as well as a final reading on May consumer sentiment.

Dow JonesNasdaq CompositeS&P 500$CSCO$MO$NCLH$OXY$PM$TRGP
Wire

Update: Market Chatter: Trump Plans to Fire FDA Commissioner Makary

(Updates with White House comment in last paragraph.)President Donald Trump has approved a plan to fire Food and Drug Administration Commissioner Marty Makary, the Wall Street Journal reported Friday, citing people familiar with the matter.Trump expressed displeasure in recent days with Makary for taking too long to approve flavored vapes and nicotine pouches, the Journal reported earlier this week, citing people familiar with the matter.Trump's decision is not final and could change, the report said."President Trump has assembled the most experienced and talented administration in history, an administration that continues to focus on delivering more historic victories for the American people," the White House said in an email to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $68.85, Change: $-0.19, Percent Change: -0.28%

$BTI$MO$PM$RLX$TPB
Wire

Market Chatter: Trump Plans to Fire FDA Commissioner Makary

President Donald Trump has approved a plan to fire Food and Drug Administration Commissioner Marty Makary, the Wall Street Journal reported Friday, citing people familiar with the matter.Trump has expressed his displeasure in recent days with Makary for taking too long to approve flavored vapes and nicotine pouches, the Journal reported earlier this week, citing people familiar with the matter.Trump's decision is not final and could change, the report said.The White House didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $69.16, Change: $+0.11, Percent Change: +0.17%

$BTI$MO$PM$RLX$TPB
Wire

Trump Plans to Fire FDA Commissioner Makary, WSJ Reports

Trump Plans to Fire FDA Commissioner Makary, WSJ Reports

$BTI$MO$PM$RLX$TPB
US Markets

Nasdaq, S&P 500 Notch Peaks as Earnings Fuel Optimism

The Nasdaq Composite and the S&P 500 hit record highs on Wednesday as upbeat corporate results overshadowed a rise in oil prices following Iran's seizure of two container ships in the Strait of Hormuz.The Nasdaq rose 1.6% to 24,657.6, while the S&P 500 climbed 1.1% to 7,137.9, both finishing at all-time highs after a two-day losing streak. The Dow Jones Industrial Average added 0.7% to 49,490.Most sectors were in the green, led by technology's 2.3% advance, while real estate saw the steepest decline.Boeing's (BA) first-quarter loss unexpectedly narrowed as commercial aircraft deliveries rose, while the plane maker reported a smaller cash burn year over year. The stock jumped 5.5%, the best performer on the Dow.Boston Scientific (BSX) shares surged 9%, the third-biggest gain on the S&P 500. The medical device supplier's first-quarter results exceeded Wall Street's estimates, but it lowered its full-year guidance.Philip Morris International (PM) reported first-quarter results above market estimates, while lowering its full-year earnings outlook. The cigarette and vape maker's shares jumped 7%.A number of tech stocks climbed, with Micron (MU) up 8.5%, among the biggest gains on the S&P 500. Apple (AAPL) rose 2.6%, the second-best performer on the Dow. Microsoft (MSFT) and Salesforce (CRM) also rose.West Texas Intermediate crude rose 3.3% to $92.58 per barrel in Wednesday late-afternoon trade, while Brent jumped 3% to $101.44.Iran said it seized two container ships attempting to cross the Strait of Hormuz, a key oil chokepoint. US President Donald Trump extended a ceasefire with Tehran late Tuesday, though he said the naval blockade of Iranian ports would continue.The status of a second round of peace talks between the US and Iran remained unclear.Trump does not consider Iran's claim that it seized two ships as a violation of the ceasefire, CNN reported, citing White House Press Secretary Karoline Leavitt.Tehran welcomes dialogue, but "breach of commitments, blockade and threats are main obstacles to genuine negotiations," Iranian President Masoud Pezeshkian said in a post on X on Wednesday."Oil prices continue to whipsaw as traders respond to a confusing and often contradictory flow of headlines, underscoring the deep mistrust between Tehran and Washington," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report on Wednesday.US Treasury yields were mixed, with the 10-year rate little changed at 4.31% and the two-year rate up 2.7 basis points at 3.81%.Gold was up 0.9% at $4,759.60 per troy ounce, while silver gained 1.7% to $77.75 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BA$BSX$CRM$MSFT$MU$PM
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) easing 0.1%.In corporate news, Booking (BKNG) is under investigation for allegedly using deceptive marketing tactics to promote its premium accommodation programs, the Italian Competition Authority said Wednesday. Shares dropped 6.3%.Netflix (NFLX) is in talks to purchase a historic Los Angeles movie studio space for a fragment of its 2021 sale price of $1.85 billion, after the property was repossessed by lenders including Goldman Sachs (GS), Bloomberg reported. Netflix rose 0.8%.Philip Morris International (PM) shares jumped past 6% after it reported Q1 results above market estimates.Best Buy (BBY) shares fell 4.8% after the firm said Corie Barry will step down as chief executive at the end of Q3, with Jason Bonfig, chief customer, product and fulfillment officer, set to succeed her.

$BBY$BKNG$NFLX$PM
US Markets

Equities Higher Intraday Amid Strong Earnings Reports; Oil Rises

US benchmark equity indexes were higher intraday following a batch of upbeat corporate results, while oil prices rose after Iran seized two container ships in the Strait of Hormuz.The Nasdaq Composite was up 1.3% at 24,577.8 after midday Wednesday, while the S&P 500 rose 0.8% to 7,121.3. The Dow Jones Industrial Average climbed 0.6% to 49,444. Among sectors, tech paced the gainers with a 2.1% advance, while real estate saw the steepest decline.Boeing's (BA) first-quarter loss unexpectedly narrowed as commercial aircraft deliveries rose, while the plane maker reported a smaller cash burn year over year. The stock was up 5.4% intraday, the best performer on the Dow.Boston Scientific (BSX) shares were advancing by 8.9%, the third-biggest gain on the S&P 500. The medical device supplier's first-quarter results exceeded Wall Street's estimates, but it lowered its full-year guidance.Philip Morris International (PM) reported first-quarter results above market estimates, while lowering its full-year earnings outlook. The cigarette and vape maker's shares rose 6.9%.A number of major tech stocks were advancing intraday, with Micron (MU) up 7.7%, among the best performers on the S&P 500. Apple (AAPL) rose 2.6%, the second-biggest gain on the Dow. Microsoft (MSFT) and Salesforce (CRM) were also higher.Tesla (TSLA), International Business Machines (IBM), and Texas Instruments (TXN) are scheduled to report results after the closing bell Wednesday. IBM shares were down 1.9% intraday, the steepest decline on the Dow.West Texas Intermediate crude rose 3.7% to $92.94 per barrel, while Brent jumped 3.3% to $101.76.Iran said it seized two container ships attempting to cross the Strait of Hormuz, a key oil chokepoint. US President Donald Trump extended a ceasefire with Tehran late Tuesday, though he said the naval blockade of Iranian ports would continue.The status of a second round of peace talks between the US and Iran remained unclear."Oil prices continue to whipsaw as traders respond to a confusing and often contradictory flow of headlines, underscoring the deep mistrust between Tehran and Washington," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report on Wednesday.US Treasury yields were mixed intraday, with the 10-year rate little changed at 4.31% and the two-year rate up 2.5 basis points at 3.80%.Gold was up 0.7% at $4,753 per troy ounce, while silver gained 1.8% to $77.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BA$BSX$CRM$IBM$MSFT$MU$PM$TSLA$TXN
Sectors

Sector Update: Consumer Stocks Mixed Wednesday Afternoon

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.In corporate news, Philip Morris International (PM) shares jumped past 6% after it reported Q1 results above market estimates.AT&T (T) reported better-than-expected Q1 results on Wednesday, while the telecommunications giant reiterated its full-year earnings outlook. AT&T shares were 0.3% lower.Best Buy (BBY) shares fell 4.8% after the firm said Corie Barry will step down as chief executive at the end of Q3, with Jason Bonfig, chief customer, product and fulfillment officer, set to succeed her.

$BBY$PM$T
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Philip Morris International Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target by $25 to $175, based on a 2027 P/E of 18.9x, a justified premium to PM's 10-year average forward P/E of 17.9x due to its smoke-free growth prospects. We raise our adjusted EPS estimates by $0.05 to $8.50 for '26 and by $0.05 to $9.25 for '27. Following PM's earnings release, we are lowering our price target and maintaining a Hold on the shares. PM's Q1 results were solid, continuing its streak of better-than-expected earnings (nine straight quarters without a miss). While PM's smoke-free pivot has been extremely successful, we have concerns regarding slowing growth going forward and consider the shares fairly valued after the stock's outperformance over the past two years. PM has been one of the best-performing names in the Consumer Staples sector recently, with the stock rising 34% in 2024, followed by a 38% gain in 2025 (vs. increases of 23% and 16%, respectively, for the S&P 500).

$PM
Wire

Top Midday Stories: GE Vernova Shares Gain on Strong Q1 Earnings, Guidance; Vertiv Lifts Guidance After Q1 EPS, Revenue Beats, Shares Fall

All three major US stock indexes were up in late-morning trading Wednesday following reports of Iranian attacks on vessels in the Strait of Hormuz and President Donald Trump's extension of the ceasefire between the warring nations.In company news, GE Vernova (GEV) reported Q1 earnings Wednesday of $17.44 per share, up from $0.91 a year earlier. Total Q1 revenue was $9.34 billion, up from $8.03 billion a year ago and above the FactSet consensus analyst estimate of $9.25 billion. For 2026, the company said it expects revenue of about $44.5 billion to $45.5 billion, up from its previous outlook of $44 billion to $45 billion and compared to the FactSet consensus of $44.66 billion. GE Vernova shares were up 12.4% around midday.Vertiv (VRT) reported Q1 adjusted earnings Wednesday of $1.17 per diluted share, up from $0.64 a year earlier and above the FactSet consensus of $1.00. First-quarter revenue was $2.65 billion, up from $2.04 billion a year ago and above the FactSet consensus of $2.64 billion. For Q2, the company said it expects adjusted EPS of $1.37 to $1.43 on revenue of $3.25 billion to $3.45 billion. Analysts polled by FactSet expect $1.43 and $3.40 billion, respectively. For full-year 2026, Vertiv said it expects adjusted EPS of $6.30 to $6.40, up from its previous outlook of $5.97 to $6.07 and above the FactSet consensus of $6.12. Vertiv expects full-year revenue to be $13.50 billion to $14.00 billion, up from its previous guidance of $13.25 billion to $13.75 billion and compared to the FactSet consensus of $13.63 billion. Vertiv shares were down 2.6%.Merck (MRK), Germany's Merck KGaA and Japan's Ono Pharmaceutical have expressed interest in Inhibrx Biosciences' (INBX) experimental cancer medicine that could be valued at over $8 billion, Reuters reported Wednesday, citing people familiar with the matter. Merck shares were down 0.2%, while Inhibrx shares were up 31.9%.Boeing (BA) reported a Q1 core loss Wednesday of $0.20 per share, narrowing from a loss of $0.49 a year earlier and compared to the FactSet consensus estimate of a loss of $0.68. First-quarter revenue was $22.22 billion, up from $19.50 billion a year ago and above the FactSet consensus of $21.85 billion. Cash outflow for the quarter was $1.45 billion, narrowing from $2.29 billion a year ago, and the company said Q1 deliveries increased 10% to 143 planes. Boeing shares were up 5.4%.Alphabet's (GOOG, GOOGL) Google Cloud is launching a $750 million fund to help consulting firms like Accenture (ACN), McKinsey and Deloitte get their clients to use agentic AI software, Bloomberg reported Wednesday, citing an emailed statement and an interview with a company official. Alphabet's Class C and Class A shares were up 1.5% and 1.6%, respectively. Accenture shares were down 1.9%.Philip Morris International (PM) reported Q1 adjusted earnings Wednesday of $1.96 per diluted share, up from $1.69 a year earlier and above the FactSet consensus of $1.83. Net Q1 revenue was $10.15 billion, up from $9.30 billion ay ear ago and above the FactSet consensus of $9.91 billion. For Q2, Philip Morris said it expects adjusted EPS of $2.02 to $2.07, below the FactSet consensus of $2.12. For full-year 2026, the company said it expects adjusted EPS of $8.36 to $8.51, compared to the FactSet consensus of $8.38. Philip Morris shares were up 7%.Boston Scientific (BSX) reported Q1 adjusted earnings Wednesday of $0.80 per share, up from $0.75 a year earlier and above the FactSet consensus of $0.79. First-quarter net sales were $5.20 billion, up from $4.66 billion a year ago and above the FactSet consensus of $5.17 billion. For Q2, Boston Scientific said it expects adjusted EPS of $0.82 to $0.84 and net sales growth of 5.5% to 7.5%. Analysts polled by FactSet expect adjusted EPS of $0.86. For full-year 2026, the company said it expects adjusted EPS of $3.34 to $3.41, down from its prior outlook of $3.43 to $3.49 and below the FactSet consensus of $3.45. Full-year net sales are now expected to grow about 7.0% to 8.5%, down from the company's previous guidance of 10.5% to 11.5% growth. Shares of the company were up 8.4%.AT&T (T) reported Q1 earnings Wednesday of $0.54 per diluted share, down from $0.61 a year earlier and below the FactSet consensus of $0.55. First-quarter operating revenue was $31.51 billion, up from $30.63 billion a year ago and above the FactSet consensus of $31.25 billion. AT&T shares were down 1.8%.Price: $1119.35, Change: $+128.05, Percent Change: +12.92%

$ACN$BSX$GEV$INBX$MRK$PM$T$VRT
US Markets

Philip Morris Beats First-Quarter Estimates, Lowers 2026 Earnings Outlook

Philip Morris International (PM) reported first-quarter results above market estimates on Wednesday, while lowering its full-year earnings outlook.The cigarette and vape maker's adjusted earnings rose to $1.96 a share for the March quarter from $1.69 a year earlier. Analysts polled by FactSet expected $1.83. Revenue gained 9.1% to $10.15 billion, topping the Wall Street consensus of $9.91 billion.The US-Israel war with Iran had a "small impact," affecting shipments to global travel retail and certain markets in the Middle East for combustibles and heated tobacco units, the company said. High energy prices and supply disruptions in a number of markets have yet to lead to a noticeable change in consumer behavior, Philip Morris said.The company expects 2026 adjusted EPS in the range of $8.36 to $8.51, down from its previous projection of $8.38 to $8.53. Analysts forecast non-GAAP EPS of $8.38.The company has factored in some increases in transport, energy and other costs into full-year guidance, though a "prolonged impact" from the Middle East war isn't expected. "The situation remains uncertain in both duration and potential impact, and it is difficult to assess the broader implications for the consumer or the global cost environment," the company said.Philip Morris' total shipment volume in the first quarter declined 1.9% to 184.3 billion units amid declines in cigarettes and oral smoke-free products. Electronic vapor shipment volume surged 95%.In the second quarter, Philip Morris expects adjusted EPS of $2.02 to $2.07, including a foreign-exchange benefit of $0.02 at current rates. Analysts project $2.12.Shares of the company advanced 6.1% in Wednesday trading.Price: $162.46, Change: $+9.21, Percent Change: +6.01%

$PM
Sectors

Sector Update: Consumer Stocks Advance Pre-Bell Wednesday

Consumer stocks were advancing pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.Philip Morris International (PM) stock was up more than 2% after the company reported higher Q1 adjusted earnings and net revenue.Travel + Leisure (TNL) shares were up more than 1% after the company posted higher Q1 adjusted earnings and net revenue.Alibaba Group (BABA) and Tencent are in talks to invest in DeepSeek, which is seeking funding at a valuation of over $20 billion, The Information reported, citing four people with knowledge of the conversations. Alibaba Group shares were 0.7% higher premarket.

$BABA$PM$TNL$XLP$XLY
Asia Markets

US Equity Futures Rise Pre-Bell After Trump Extends US-Iran Ceasefire

US equity futures were rising pre-bell Wednesday after President Donald Trump extended the ceasefire with Iran while maintaining the US blockade of Iranian ports.Dow Jones Industrial Average futures were 0.7% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.9% higher.Trump said that Iran's government is "seriously fractured" and that he is extending the ceasefire "until such time as their leaders and representatives can come up with a unified proposal," according to his post on Truth Social.Amir-Saeid Iravani, Iran's permanent representative to the UN, said that Iran is ready to restart peace talks once the US lifts its naval blockade, Iranian state news outlet Tasnim reported early Wednesday, citing media outlet Rudaw.Traders digested the latest round of earnings, with Philip Morris International (PM) and Vertiv (VRT) reporting higher Q1 adjusted earnings and revenue. GE Vernova (GEV) posted higher Q1 earnings and revenue, while AT&T (T) reported lower Q1 earnings amid higher operating revenue. Tesla (TSLA) and IBM (IBM) are set to report their results after-market.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.5% at $99.93 per barrel and US West Texas Intermediate crude 1.5% higher at $91.01 per barrel.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET.In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, shares of Philip Morris and GE Vernova were up 3.3% and 7.%, respectively, after the companies posted their Q1 financial results. Adobe (ADBE) stock was 3% higher after the company said its board approved a new share buyback authorization, allowing the company to repurchase up to $25 billion in shares through April 30, 2030. The digital media software firm also expanded its partnership with Omnicom Group (OMC) to co-develop an enterprise-grade, industry-specialized AI agentic operating model solution, according to Omnicom.On the losing side, Vertiv shares were down 1.1% despite its Q1 adjusted earnings and revenue surpassing analyst expectations. AT&T stock was down 2% after its Q1 earnings release.

Dow JonesNasdaq CompositeS&P 500$ADBE$GEV$IBM$OMC$PM$T$TSLA$VRT
Sectors

Sector Update: Consumer

Consumer stocks were advancing pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.3% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.Philip Morris International (PM) stock was up more than 3% after the company reported higher Q1 adjusted earnings and net revenue.

$PM
Research

Research Alert: Pm: Q1 Well Ahead Of Consensus, But Q2 Eps Guidance A Bit Light

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Philip Morris (PM) posted Q1 adjusted EPS of $1.96 vs. $1.69 (+16%), well ahead of the $1.83 consensus. Net sales rose 9.1% to $10.15B ($240M ahead of consensus) and gross margin rose 70 bps to 68.1% (10 bps ahead of consensus). PM's total Q1 shipments fell 1.9% Y/Y, due to a cigarette volume decline of 5.1%, partly offset by smoke-free product growth (+9.1%). PM's International Smoke-Free business accounted for 43% of total revenue in Q1, with segment net revenues rising 25% Y/Y and gross profit up 29%. PM narrowed full year adjusted EPS guidance to $8.36-$8.51 from $8.38-$8.53, reflecting currency impacts only. PM's Q2 adjusted EPS guidance of $2.02-$2.07 was shy of the $2.12 consensus. PM shares traded 2% higher in pre-market trading, a muted reaction following the beat, which we attribute to the weaker-than-expected Q2 guidance. We note PM's long history of providing conservative guidance. PM is coming off two very strong years of outperformance in which it was one of the sector's best-performing equities.

$PM
Japan

US Equity Futures Rise Pre-Bell After Trump Extends US-Iran Ceasefire

US equity futures were higher pre-bell Wednesday after President Donald Trump extended the ceasefire with Iran while maintaining the US blockade of Iranian ports.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.Trump said that Iran's government is "seriously fractured" and that he is extending the ceasefire "until such time as their leaders and representatives can come up with a unified proposal," according to his post on Truth Social.Amir-Saeid Iravani, Iran's permanent representative to the UN, said that Iran is ready to restart peace talks once the US lifts its naval blockade, Iranian state news outlet Tasnim reported early Wednesday, citing media outlet Rudaw.Traders digested the latest round of earnings, with Philip Morris International (PM) and Vertiv (VRT) reporting higher Q1 adjusted earnings and revenue. Meanwhile, AT&T (T) posted lower Q1 earnings amid higher operating revenue. Tesla (TSLA) and IBM (IBM) are set to report their results after-market.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1% at $99.46 per barrel and US West Texas Intermediate crude 0.9% higher at $90.47 per barrel.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$IBM$PM$T$TSLA$VRT
US Markets

Stocks Rise Pre-Bell as Trump Extends Iran Ceasefire; Tesla Earnings On Deck

The main US stock measures were trending higher in Wednesday's premarket activity after President Donald Trump extended the two-week US ceasefire with Iran, while traders await the latest round of corporate earnings, including results from Tesla (TSLA).The S&P 500 rose 0.6%, the Dow Jones Industrial Average increased 0.5% and the Nasdaq added 0.7% before the opening bell. The indexes finished Tuesday trading lower for the second consecutive session.In a social media post on Tuesday, Trump announced the extension of the two-week US ceasefire deal with Iran, citing a request by Pakistan's Prime Minister Shehbaz Sharif and Field Marshal Asim Munir. The truce was announced on April 7. The naval blockade of Iranian ports will continue, according to Trump."We have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump said in the post. "I have therefore directed our military to continue the blockade and, in all other respects, remain ready and able, and will therefore extend the ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other."Iranian state news outlet Tasnim reported that negotiators from Tehran won't participate in further peace talks with their US counterparts, according to CNBC. US Vice President JD Vance's expected trip to Islamabad for peace talks with Iran has been called off, CNN reported, citing a White House official.West Texas Intermediate crude oil inclined 1.3% to $90.83 a barrel in premarket action, while Brent rose 1.1% to $99.56.The Trump administration is evaluating a potential extension of a maritime shipping waiver to make it easier to move oil and gasoline between US ports, Bloomberg News reported Wednesday, citing people familiar with the matter.Electric vehicle giant Tesla is scheduled to release its latest quarterly results after the markets close, along with International Business Machines (IBM) and Texas Instruments (TXN). GE Vernova (GEV), Philip Morris International (PM), AT&T (T), Boeing (BA), Boston Scientific (BSX) and Elevance Health (ELV) post earnings before the bell, among others.Intuitive Surgical (ISRG) shares advanced 2% pre-bell as the company lifted the full-year procedure growth outlook of its da Vinci robotic surgery system and reported better-than-expected first-quarter results. Advanced Micro Devices (AMD) gained 2%.Kevin Warsh said Tuesday that the Federal Reserve, under his leadership, would be independent from the White House, CNBC reported. Warsh, who is Trump's Fed chair nominee, made the remarks at his Senate Banking Committee confirmation hearing.Treasury yields were moving down before the open, with the two-year rate retreating 0.8 basis points to 3.77% and the 10-year rate off 1 basis point to 4.28%.Official data on Tuesday showed that retail sales last month logged the largest rise since March 2025 amid a surge in spending at gasoline stations as the Middle East conflict boosted energy prices.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Gold rose 1.1% to $4,769 per troy ounce, while bitcoin climbed 3.9% to $78,172.

Dow JonesNasdaq CompositeS&P 500$AMD$BA$BSX$ELV$GEV$IBM$ISRG$PM$T$TSLA$TXN

Showing 1-20 of 24