Philip Morris International (NYSE: PM - option chain) shares are rising today after the company announced this morning that it will buy privately-owned Colombian cigarette maker Protabaco in a deal that will cost the company $452 million. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on PM.PM opened this morning at $43.06. So far today the stock has hit a low of $42.01 and a high of $43.57. As of 11:45, PM is trading at $42.85 up 51 cents(1.2%). The chart for PM looks bullish and S&P gives PM a positive 4 STARS (out of 5) buy ranking.
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