Why Philip Morris Shares Are Moving Today

Philip Morris International Inc. PM shares are trading lower after the company reported worse-than-expected Q2 sales.

The company reported second-quarter sales results of $7.59 billion, which missed the $7.67 billion analysts estimate.

Philip Morris International, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories.

It markets and sells its products in the European Union, Eastern Europe, the Middle East, Africa, South and Southeast Asia, East Asia, Australia, Latin America, and Canada.

Philip Morris' stock was trading about 2.8% lower at $95.23 per share on Tuesday. The stock has a 52-week high of $100.95 and a 52-week low of $68.93.