PM News & Events

Stock futures are modestly lower this morning after the S&P 500, Nasdaq, and Dow all closed at record highs on Monday. Investors are seemingly taking a cautious stance ahead of this week's labor-market data and additional comments from Federal Reserve officials.The market received another boost from strong technology-related news. Hewlett Packard Enterprise surged in premarket trading after raising financial targets, while AI-linked names such as Marvell and Nvidia also attracted buying interest. Enthusiasm surrounding data centers, AI infrastructure, and enterprise spending continues to provide the primary source of market leadership.Bond yields remain elevated but relatively stable. The 10-year Treasury yield is hovering around the mid-4.4% range. Investors are watching whether upcoming economic data can support the soft-landing narrative without reigniting inflation fears. The JOLTS job openings report is also in focus.In pre-market trading, S&P 500 futures fell 0.17%, Nasdaq futures fell 0.03% and Dow futures fell 0.49%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Marvellup 18% after NvidiaCEO Jensen Huang said at Computex Week in Taipei that the company is set to be the "next trillion-dollar company"Aveannaup 9% after raising its full-year outlook following completion of the acquisition of Family First HoldingMicrochipup 8% after FY26 data center solution revenue pre-announcementUP AFTER EARNINGS -HPEup 27%Citi Trendsup 10%Signet Jewelersup 7%Dollar Generalup 4%Donaldsonup 2%DOWN AFTER EARNINGS -Odditydown 19%Credo Technologydown 3%LOWER -Fulcrum Therapeuticsdown 51% after announcing the discontinuation of its pociredir program for the treatment of sickle cell disease and the initiation of a review of strategic alternativesPhilip Morrisdown 1% after cutting its full-year EPS view

Consensus $8.41. Philip Morris' Group CEO PMI, Jacek Olczak, will address investors at the 2026 dbAccess Global Consumer Conference in Paris. The company said, "PMI updates its 2026 full-year reported diluted EPS forecast to a range of $7.18 to $7.33 to reflect currency and the non-cash impairment of RBH only. Excluding a total 2026 adjustment of $1.13 per share, the forecast range for adjusted diluted EPS of $8.31 to $8.46 represents a projected increase of 10.2% to 12.2% versus $7.54 in 2025. Excluding a favorable currency impact, at prevailing exchange rates, of $0.20 per share, this represents growth of 7.5% to 9.5%. In May 2026, pursuant to its obligation under its court-approved plan of compromise and arrangement, PMI's Canadian affiliate, RBH, provided an annual business plan to its Plan Administrator containing updated five-year financial projections reflecting current industry dynamics. As a result, PMI has determined that the estimated fair value of its investment in RBH may be lower than its carrying value and expects to record a non-cash impairment charge of approximately $500 million, representing 33 cents of diluted EPS, in the second quarter of 2026. RBH remains deconsolidated from the PMI group, with the remaining carrying value expected to be less than $100 million. The change in forecasted currency impact primarily reflects unrealized transactional foreign exchange effects from deferred tax liabilities associated with the strengthening Russian ruble. These effects are expected to occur in the second quarter, and we also update our Q2 adjusted diluted EPS forecast for currency only to a range of $1.97 to $2.02, now including an estimated unfavorable currency impact of 3 cents at prevailing exchange rates. All other forecast assumptions remain unchanged from those communicated on April 22, 2026."