When we last covered Altria (MO), we suggested that there were certainly reasons to go long the stock, but we had to temper our bullishness until we saw evidence of stabilizing cigarette sales. That article was published in late February, which in hindsight we now know was near the peak of the market. Interestingly, Altria tracked the general indices rather well during the decline and the rebound.

Things did take a turn for the worse after Altria released its results, and the stock dropped rather swiftly. Year to date, Altria has performed horribly against the index.

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