Shares in the company fell as much as 16.3 per cent to $84.86 and were headed for the worst single day performance since 2008 after Philip Morris said cigarette shipments fell 5.3 per cent in the first quarter from a year ago.
Shipments of its heated tobacco units more than doubled from a year ago, but were down from the December quarter. Combined shipments of cigarettes and its heated tobacco units fell 2.3 per cent year-on-year.
Submitted April 20, 2018 at 08:12AM by ChocolateTsar https://ift.tt/2qLpUfb
