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k PM-U.S.A. Morning Newsbriefs; 07/13/94 (c) Copyright 1994 INFORMATION, INC. This service may be reproduced for internal distribution. HEADLINE SUMMARIES: "Philip Morris Posts Income Gain in Quarter" "Philip Morris Reports Higher Earnings For Second Quarter, But Its Stock Falls" "U.K. Clears B.A.T.'s Acquisition of American Tobacco" "John J. Tucker To Retire From Senior VP Position at PM" "Universal Corp. Plans Restructuring" "Suing Tobacco Firms Said to Be Not Worth the Trouble [Study]" "More States Plan to Sue for Costs of Smoking" "Editorial: Tobacco'Criminals"' "Business Roundup: Food Lion Irks Cigarette Makers With Employee Smoking Ban" "Company News: American Brands to Sell Dollon & Aitchison" "B.A.T. PLC Up on Philip Morris 02 Figures" "Croatia Produces Marlboro Cigs Under License" "Marion Merrill Dow Launches Nicorette in Japan" "Cigarette Companies Try to Strike a Match in Asia" "Kuwaiti Proposal Would Ban Smoking In Public" "Philip Morris Posts Income Gain in Quarter" New York Times (07/13/94) P. D4; Collins, Glenn Philip Morris Cos. yesterday announced its first quarterly increase in earnings since it cut cigarette prices in April 1993. The company reported strong performance from its domestic and international tobacco business, and large gains in the sale of its Marlboro cigarette brand. Earnings climbed 17.6 percent to $1.2 billion, or $1.42 a share. Operating income for Philip Morris rose 14 percent to $2.7 billion, on revenues of $16.4 billion. Despite the positive earnings reported, shares of Philip Morris fell yesterday 75 cents to $53.125 on the New York Stock Exchange. Diana K. Temple, an analyst who follows the company for Salomon Brothers, thinks that "continuing concern about litigation, especially the proliferation of state lawsuits, is restraining the stock." Roy D. Burry, an analyst who follows Philip Morris for Kidder, Peabody & Company, said, "Given all that the company has been through, the positive picture is a surprise." The retail share for Marlboro cigarettes reached 28.5 percent, the A.C. Nielsen Company reported yesterday. Philip Morris' 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 Kj 0 ~ ® ~ ~ ® w 00 v, I