Why Altria Stock Was Getting Smoked Today
Shares of Altria (NYSE: MO), the domestic maker of Marlboro cigarettes, were pulling back after the company topped estimates in its third-quarter earnings report but lowered its earnings guidance for the year. As a result, the stock was down 7.7% as of 2:58 p.m. ET.
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The tobacco giant said that revenue net of excise taxes fell 2.5% in the quarter to $5.28 billion, topping estimates at $5.12 billion. On the bottom line, adjusted earnings per share (EPS) was flat at $1.28, which was better than estimates at $1.22.
Source Fool.com
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