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Cigarette Prices May Rise: Expectations that Philip Morris Cos. may raise cigarette prices sent tobacco stocks sharply higher, reversing months of declines on Wall Street, traders said. The No. 1 cigarette maker sent a Mailgram to wholesalers in which it said it is limiting cigarette orders to “reasonable quantities,” effective with shipments Nov. 8. The move was interpreted by people in the trade as an indication that a price increase may be on the horizon. Gary Black, analyst at Sanford C. Bernstein & Co., told the firm’s sales force that he expects Philip Morris to boost prices, traders at the firm said. Officials at Philip Morris declined to discuss cigarette pricing strategy, citing company policy.