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Volatility in the Russian cigarette market and other pressures hurt RJR Nabisco's third-quarter results, announced last week. Excluding special items, earnings in the quarter fell 36% on a 2% drop in revenue. At R.J. Reynolds International, sales fell 19% in the quarter and operating profit fell 52%. Cigarette sales volume in Russia plunged 44%. A bright spot was its Nabisco Biscuit Co. unit, which saw sales rise 1%, the first quarterly increase in seven quarters. RJR closed at $25.25 Friday, off 3.1% for the week.
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