I've made mistakes, like underestimating the tech stock surge. However, I'm pleased with the market's shift from "growth" to "value," broadening market strength. Non-tech sectors are showing positive earnings, and smaller companies are starting to outperform, creating opportunities for dividend growth investors. By focusing on high-quality stocks with strong balance sheets and consistent dividend growth, I'm confident in achieving superior long-term results.
3M stock had its best day on record Friday. Second-quarter earnings were a nice surprise, but they weren't the reason for the big jump in the shares.
3M (MMM) shares soared Friday after the maker of Scotch tape and Post-it Notes reported better-than-expected quarterly results and raised its full-year profit forecast, as the conglomerate reaps the benefits of cost-reduction measures and focuses on expanding its footprint into high-growth businesses.
The market appears to be in a rolling correction. This occurs when one group or sector fades and another begins a rally.
MMM experienced a significant 22.99% increase in shares after strong earnings and positive outlook. Despite past challenges, MMM has a strong balance sheet, with ample cash to meet obligations and potential for future growth. MMM is undervalued compared to competitors like Honeywell, offering potential for further value unlocking and growth.
Major U.S. equities indexes saw significant gains on the final day of a volatile trading week after the latest Personal Consumption Expenditure (PCE) data revealed price increases ticked downward in June.
U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining more than 1% on Friday.
3M (MMM) reports y/y adjusted revenue growth of 1.1% in second-quarter 2024 results.
Shares of 3M (MMM) soared Friday after the maker of a wide array of commercial and consumer products reported better-than-anticipated results and raised its outlook.
3M beat top- and bottom-line expectations and raised the lower end of its full-year guidance. Even with the surge higher, 3M shares are still losing to the market over the past five years.
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.
3M Co (NYSE:MMM) shares surged more than 17% as the maker of Scotch, Post-It and Command products posted a second quarter earnings beat and raised its full-year profit guidance. The company now expects full year adjusted earnings per share (EPS) in the range of $7 to $7.30, up from its earlier forecast of $6.80 to $7.30.