Cigarette-maker Philip Morris has cut its 2014 earnings forecast, citing what it calls a "complex and truly atypical" year. It attributed significant currency headwinds, an improving but weak macro-economic environment in the European Union and challenges in Asia to the reduced forecast. The company also must take a pretax charge of $495 million, or 24 cents a share, in the second quarter, tied to its decision to stop cigarette production in the Netherlands by September. As more consumers seek less harmful alternatives to cigarettes, Philip Morris also announced that it acquired British e-cigarette maker Nicocig for an undisclosed price.

More from Video

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Replay: Jim Cramer on the Markets, 10-Year Yield, Oil Prices and Foot Locker

Video: You Could Live in a Ritz-Carlton or St. Regis Home

Video: You Could Live in a Ritz-Carlton or St. Regis Home