Altria Group Stock Rises 4% Over Contract Manufacturing Arrangement With Philip Morris International

India, Aug. 24 -- Shares of Altria Group, Inc. (MO) are rising about 4 percent on Monday morning after its subsidiary Philip Morris USA Inc. enters into a contract manufacturing arrangement with non-U.S. affiliates of Philip Morris International Inc. (PM) to enhance the efficiency of its traditional tobacco product operations.

The company's shares are currently trading at $68.55 on the New York Stock Exchange, gaining 3.72 percent in the latest session. The stock opened at $66.79 and touched an intraday high of $68.57. Over the past 12 months, the shares have traded between $54.70 and $77.06.

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