AP Photo/Richard Drew, FileCopyright 2019 The Associated Press. All rights reservedThe market appears to be in a rolling correction. This occurs when one group or sector fades and another begins a rally. This bull market has gone to an historic split between the tech leaders and the rest of the market.This tech correction is likely not completed. There are two reasons for this point of view:· The open interest put/call ratio remains over two and near its highs. This tells us that traders remain bullish desp ...

josefkubesWhile there is still some work left to do, today was a win for 3M Company (NYSE:MMM) and its shareholders. MMM experienced a long retracement as shares declined from around $170 in May of 2021 to the low $70s in October of 2023. Some shareholders weren't excited about MMM spinning off its healthcare business, which formed Solventum Corporation (SLOV) in the fall of 2024, and the resetting of the quarterly dividend from $1.26 to $0.70. Shareholders that stuck with MMM experienced MMM's best day ...

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining more than 1% on Friday.The Dow traded up 1.66% to 40,598.17 while the NASDAQ rose 1.07% to 17,365.04. The S&P 500 also rose, gaining, 1.17% to 5,462.66.Check This Out: Jim Cramer Is ‘Mystified’ By Five Below, Predicts CrowdStrike ‘Is Going To Bottom Here’Leading and Lagging SectorsIndustrials shares jumped by 2% on Wednesday.In trading on Wednesday, energy shares rose by just 0.6%.Top Headline3M Company MMM shares jumped around 21 ...

3M Company (MMM) has reported second-quarter 2024 results, wherein revenues and earnings surpassed the Zacks Consensus Estimate. The bottom and top lines (on an adjusted basis) increased on a year-over-year basis. It is worth noting that in April 2024, the company completed the spin-off of its Healthcare business into a separate public company. Inside the Headlines 3M delivered adjusted earnings of $1.93 per share, which surpassed the Zacks Consensus Estimate of $1.66. The metric increased from earnings of ...

Financial Data and Key Metrics Changes - The company reported non-GAAP earnings per share of $1.93, an increase of nearly 40% year-over-year, with organic revenue growth of 1% [6][19] - Adjusted free cash flow was $1.2 billion, with a conversion rate of 109% [6][24] - Adjusted operating margins expanded by 440 basis points year-on-year to 21.6% [20][21] Business Segment Data and Key Metrics Changes - Safety and Industrial business posted sales of $2.8 billion, up 1.1% organically, with adjusted operating income of $623 million and margins of 22.6% [27][28] - Transportation and Electronics reported adjusted sales of $1.9 billion, up 3.3% organically, with adjusted operating income of $426 million and margins of 22.3% [29][30] - Consumer business sales were $1.3 billion, with organic sales declining 1.4% year-on-year and operating income of $219 million, down 7% [30][31] Market Data and Key Metrics Changes - Industrial markets grew low single digits in the U.S. and Asia Pacific, while EMEA experienced low single-digit declines [27] - The electronics business outperformed the market with low double-digit organic growth, while the auto OEM business increased nearly 5% [29] Company Strategy and Development Direction - The company is focusing on driving sustained top-line organic growth, improving operational performance, and effectively deploying capital [8][16] - A shift from a geographic to a global business unit structure has been implemented, along with centralizing global supply chain activities [7] - The company aims to balance investments in high-growth markets while sustaining core product investments [11][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged significant macro uncertainty but noted that business segment and market trends are largely as expected [33] - The company expects full-year adjusted earnings guidance to be raised to a range of $7 to $7.30, reflecting a year-on-year increase of 16% to 21% [33] - Management emphasized the need to improve organic growth, which has been below market indices and peers over several years [9][33] Other Important Information - The company incurred a non-cash charge of approximately $800 million related to a pension risk transfer [26] - Total combined payments of $3.7 billion related to legal settlements were expected in July [25] Q&A Session Summary Question: Actions on organic growth initiatives - Management is focusing on driving innovation and improving the efficiency of R&D spending to enhance organic growth [38][40] Question: Operational excellence and restructuring - Current operational improvements are seen as incremental and do not require significant restructuring beyond what has already been completed [44] Question: Factory and distribution footprint - The company is evaluating its factory and distribution network for potential reductions in complexity and effective capacity [46] Question: Reinvestment and margin growth - Management believes it can reinvest in the business while still achieving reasonable margin expansion [59] Question: Insurance recovery and legal settlements - Ongoing negotiations with multiple insurance providers for recoveries related to legal settlements are in progress [50]

Key Takeaways3M shares soared as the conglomerate beat profit and sales estimates under new CEO William Brown. The company also raised its full-year earnings guidance.The gains came as the company refocused on growth following settlements of two big class-action lawsuits and the spinoff of its Solventum health care unit.The stock's surge was powering a 700-point gain for the Dow Jones Industrial Average in midday trading Friday. Shares of 3M (MMM) soared Friday after the maker of a wide array of commercial ...

A strong beat signals to markets that this slumbering industrial giant is back.Diversified manufacturer 3M (MMM 19.64%) easily topped Wall Street's quarterly expectations and raised the lower end of its full-year guidance.Investors are rallying into the shares, sending 3M up 17% as of 11:15 a.m. ET.A big beat thanks to improving margins3M has required patience from investors, losing nearly half of its value over the past five years as it dealt with a series of liability lawsuits and reworked its business. B ...

Blue chip 3M Co (NYSE:MMM) is surging, up 15.9% to trade at $119.75 at last check, after the company reported better-than-expected earnings and revenue for the second quarter.MMM earlies blasted through overhead pressure from the $105 level to hit a 52-week high of $121.60 earlier. Shares are also bouncing off long-term support from the 40-day moving average, and now sport a 30.9% year-to-date lead.Analysts have yet to chime in, with seven of the 11 in coverage calling 3M Stock a "hold" or worse, while the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 1-3285 3M COMPANY (Exact name of registrant as specified in its charter) Delaware 41-0417775 (State or ...

3M’s NYSE: MMM rebound is gaining momentum because of surprisingly good results. Today’s story is that repositioning efforts are taking hold and driving improved profitability while litigation risks dwindle. The takeaways from the Q2 report include better-than-expected top and bottom-line results, organic sequential growth in all segments, improved margin, and increased guidance that affirms the shift in analysts' sentiment. That shift points to higher share prices and the potential for a sustained rally th ...