On July 22, Philip Morris rose 3.7% overnight, trading at $195.0 per share and reaching a new 52-week high, with turnover of $934,700.

The movement coincides with the company's scheduled Q2 earnings release in pre-market trading, with market consensus expecting EPS of $2.04. Additionally, the U.S. FDA in early July formally issued Modified Risk Tobacco Product orders for 20 ZYN nicotine pouch products, authorizing Philip Morris to market the claim that using ZYN instead of cigarettes puts users at lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis. ZYN became the first nicotine pouch authorized for sale in the U.S. in January. This regulatory milestone reinforces ZYN's competitive positioning in the rapidly growing oral nicotine category and supports the company's broader smoke-free transformation strategy.

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