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Philip Morris Posting Steep Loss On Disappointing Q1 Revenues

After coming under pressure early in the session, shares of Philip Morris (PM) continue to see substantial weakness in late-day trading on Thursday. Philip Morris is currently down by 15.7 percent after hitting its lowest intraday level in over two years.

The steep drop by Philip Morris comes after the cigarette maker reported first quarter earnings that exceeded analyst estimates but on weaker than expected revenues.

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