Updates

** Shares of Marlboro cigarette maker Philip Morris International PM.N rise about 4% to a record high of $195.51

** Co beats Q2 sales and profit estimates on higher cigarette demand

** The core of the strength is the cigarette business - lest we forget, still the heart of this company, and the majority of revenue and profits, Bernstein analysts say

** PM also aims to invest more in its Zyn nicotine pouches following recent regulatory approval allowing certain Zyn products to be marketed as less harmful than cigarettes

** However, co cuts annual adjusted EPS forecast, hurt by negative currency swings

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