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The backtest results indicate that PM's stock shows a low probability of positive returns following earnings beats, with win rates below 50% and negligible gains over 3, 10, and 30 days. This suggests limited market enthusiasm for PM's earnings surprises. Similarly, the Tobacco Industry as a whole experiences minimal impact from earnings beats, with only slight returns observed and no significant price movement. Therefore, investors should be cautious about relying solely on earnings beats for short-term gains in PM or the Tobacco Industry and consider additional factors when making investment decisions.