The Spark for a Big Tobacco Reunion

Philip Morris International had a disappointing earnings report Tuesday -- sales volume was down and the strong dollar continued to prove painful. But buried deep within the report was a bright spot that happens to be the key reason Altria, its former parent company, might want the business back:

What is iQOS? You can read this Bloomberg article about it here, but in a nutshell, it's a new smoking technology that involves heating tobacco rather than burning it -- something that Philip Morris International is hoping to claim reduces the risk of smoking-related diseases and will reignite its growth. As of now, the technology looks to be a real game-changer for the industry, and Philip Morris International has that first-mover advantage. The company says it's spent more than $2 billion on research and development of smoking alternatives, as conventional cigarette consumption wanes in many markets.