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Philip Morris Posting Strong Gain On Better Than Expected Q3 Results

After moving sharply higher early in the session, shares of Philip Morris International Inc. (PM) continue to see significant strength in afternoon trading on Thursday. Philip Morris is currently up by 3.7 percent after reaching a six-month intraday high.

The early rally by Philip Morris came after the tobacco producer reported third quarter results that exceeded analyst estimates on both the top and bottom lines.

Philip Morris reported third quarter earnings of $1.44 per share on adjusted revenue of $7.5 billion compared to analyst estimates for earnings of $1.28 per share on revenue of $7.2 billion.

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