Big Technology better make room for Big Tobacco.
Such is the battle for S&P 500 leadership this year, where mega-cap technology has recently unseated the reflationary trade as the main driver behind the indexâs 5.6 percent advance.
But lost in the rotation is the stalwart of 2017, a company that sits up there with gains from Amazon.com and Facebook, and peddles in e-cigarettes over e-commerce.
Philip Morris International Inc., the worldâs largest publicly traded tobacco company, emerged as the f...
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