He referred to concerns over Philip Morris’s potential legal liability for the health problems of smokers, fears of increased regulations and excise taxes, all of which have driven down the company’s stock. Investors have pushed the company to consider splitting in two so that its other units, including food and brewery operations, would not suffer from tobacco’s problems.

In May, directors tabled that proposal, and last month, Michael A. Miles, the chief executive and chairman who was believed to have endorsed it, resigned. Taking over were two longtime tobacco executives, R. William Murray, the new chairman, and Geoffrey C. Bible, the new president and chief executive.

The positive earnings report may give Mr. Murray and Mr. Bible a lift the next time they meet with the company’s large institutional shareholders, many of whom continue to press for a corporate firewall around the company’s tobacco operations. A meeting was scheduled for today, but was postponed after Philip Morris could not assure the shareholders that directors who are not part of the company’s management would be able to attend. No new date has been set.

Despite the positive earnings report, shares of Philip Morris fell 75 cents yesterday, to $53.125, on the New York Stock Exchange. “I think that continuing concern about litigation, especially the proliferation of state law suits, is restraining the stock,” said Diana K. Temple, an analyst who follows the company for Salomon Brothers.

Quarterly operating income was at its highest level since the company, in an attempt to regain market share, set off a price war in April 1993 by slashing prices. It cut the price of Marlboro cigarettes, its leading brand, by 40 percent, and also reduced prices on its other premium brands.

Citing figures from the A. C. Nielsen Company, the company said yesterday that the retail share for Marlboro Cigarettes reached 28.5 percent, an increase of 6.5 points from March 1993, before the company began its Marlboro price cuts. “That is the highest share Marlboro has ever had,” Ms. Temple said.

Philip Morris’s other premium brands, as a group, posted a retail share of 9.1 percent, up from a low of 8.3 percent in August 1993, when the company realigned its wholesale list prices.

International tobacco sales grew in the second quarter as well, with revenues advancing 6.8 percent, to $4.3 billion, and with operating income climbing 19.2 percent, to $688 million. Volume was up 16.3 percent over a year ago, to 128 billion units.

“International is the crown jewel in Philip Morris,” Ms. Temple of Salomon Brothers said.

Graph “Second Quarter Strength” shows financial results for the Philip Morris Companies. (Source Company reports) Table “Philip Morris Cos. (MO,N)” Qtr. to June 30 1994 1993 %Ch Rev. 16,414,000,000 15,789,000,000 3.8 Net inc. 1,232,000,000 1,048,000,000 18.3 Sh. earn 1.42 1.19 Sh. out. 870,000,000 876,000,000 6m rev. 31,914,000,000 30,978,000,000 3.2 Net inc. 2,403,000,000 b1,785,000,000 33.3 Sh. earn 2.75 2.03 Sh. out. 873,000,000 880,000,000 b After a charge of $477,000,000, or 54 cents a share, which represents cumulative effect of change in accounting for post employment benefits. Philip Morris Cos. said operating income for the quarter rose 14 percent, to $2.7 billion. Yesterday’s closing price Down 75

There sells online cheap newport and marlboro cigarettes (page 1) — film — 404bajery.pl

Murhi international television home

Buy Cheap Cigarettes man because of
and desires bothering smoke cessation are actually supplied and beneficial online. If you are gonna go cheap, select something that could .Buy Cheap Cigaretteseasily be replaced if something goes wrong. It will give you complications in your lungs and about all of your system.. S pharmaceutical co


I finally quit smoking! I feel better than I’ve felt in many years and I want to help you get Cheap Cigarettes e too.

It was several years ago and I was going through a n

Cheap Cigarettes ty break up when I reached over and grabbed a cigarette(cigarrillo Cheap Cigarettes ronico) from a friend’s pack. That was the first cigarette( Cheap Cigarettes sche zigarette) I’d smoked in over ten years. After all was said and with the girlfriend, the only thing that remained wa

s that my old smoking addiction was back and stronger than ever.

Long story .Cheap Marlboro Cigarettes short after battling that Cigarettes Coupons , black rain cloud that .Cheap Cigarettes Online hovered over my head and controlled every Cheap Cigarettes spect of my life for years, I can say .Cheap Usa Cigarettes that I’m smoke free and a much better ma.n because of it.
Here’s the interesting part. I know that everyone is different and we all place a different set of values on our behavio.r. Some view smoking as nothing more than something they know they probably shouldn’t do. That’s all well and good and may make quitting for you if you don’t give it too

much meaning. If you’re anything like me, however, smo

king became a constant, 30 times a d. ay reminder of how I was not living up to my. potential. I began to see myself as a failure. When a person attaches that much negative emotion to a behavior, it gains much more stren

gth than it deserves and can make quitting a living hell!

I’d like to share with you a couple of things that I did to help make the transition from all of that negative emotion and ‘smokers hell’ to a smoke free and healthy individual and also discuss the change in mental and physical state from smoker to non smoker. It’s an amazing feeling and I really want to inspire you to finally let go of that awful habit and live to your full potential.

Because I’d tried to quit too many times to even attempt to count, I had a fairly solid supply of 4mg nicotine lozenges and nicotine gum. In the past, I’d always tried to make an about face from cigarettes(elektroniske cigaretter) to either the gum or the lozenges. Well, as any smoker can attest to, a fresh cup of coffee and a piece of nicotine gum in the morning just doesn’t cut it! Then you pace around the house and finally throw in the towel and