BUZZ-Philip Morris down after cutting annual profit forecast

Philip Morris International Inc.

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** Shares of cigarette maker Philip Morris International PM.N down 2% at $184.29 in premarket trading

** Co cuts annual adjusted EPS forecast, hurt by intensifying competition among tobacco products and negative currency swings

** Now expects FY2026 EPS between the range of $8.26 and $8.41 vs previous forecast of $8.31 to $8.46

** Posts quarterly revenue beat, helped by resilient demand for smoke-free products following recent regulatory approval for its Zyn nicotine pouches

** Reports Q2 revenue rise 10.4% to $11.19 billion vs estimates of $10.63 billion - data compiled by LSEG

** As of last close, PM up 17% YTD

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