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PM logoPhilip 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.

Continue reading Phillip Morris International (PM) to buy Colombian cigarette maker

Phillip Morris International (PM) to buy Colombian cigarette maker originally appeared on BloggingStocks on Fri, 10 Jul 2009 12:40:00 EST. Please see our terms for use of feeds.

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