Why did 3M Company stock fall on 9 October?
Written after the close on
3M Company −2.21%
3M fell sharply as its safety-products reshuffle drew scrutiny. Over the last five trading days 3M slipped, lagging a market that rose clearly while its industrial peers were roughly flat. The softness likely reflects profit-taking after a strong run tied to the completed Scott Safety deal with Bain Capital, which reshapes its safety-products footprint, and to raised guidance and record margins highlighted earlier. The stock had already jumped on an analyst upgrade to a neutral rating and on quarterly sales growth of 5.6% to $6.5 billion that beat expectations, so some give-back is plausible. Watch the mid-October earnings report for whether cash generation and margin plans can support the valuation gap.
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