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December 11, 2013
07:50 EDTMMM3M Company upgraded at Nomura
As previously reported, Nomura upgraded 3M Company to Buy from Neutral. The firm notes accelerating organic growth, potential margin improvement, and capital allocation that could drive EPS growth. Price target is $150.
News For MMM From The Last 14 Days
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April 24, 2014
09:28 EDTMMM3M sees foreign currency translation reducing FY sales by approx. 1%
Says currency reduced sales by 2% in Q1, which was about 1% worse than its expectation entering the year. Says sees foreign currency translation reducing FY sales by approximately 1%, a slightly bigger headwind than previously expected. Says continues to experience positive selling price changes across its businesses. Says weather negatively impacted certain channels that it serves in the U.S. in Q1, particularly in road construction and retail. For 2013-2017, says planning to invest $5B-$10B+ on acquisitions, says multi-billion dollar deals possible. Sees strong investment in R&D, CapEx in 2013-2017, says organic growth remains "paramount." Expects to add leverage of $2B-$4B on the balance sheet for CY14. Sees strong margin performance continuing. Sees FY14 CapEx $1.7B-$1.8B. Sees FY gross share repurchases $4B-$5B. Comments made on the Q1 earnings conference call.
08:58 EDTMMM3M Company sees FY14 tax rate 28%-29%
Sees free cash flow conversion 90%-100%. Says planning share repuchases of $17B-$22B over 2013-2017. Comments from slides that will be presented on the Q1 earnings conference call.
07:34 EDTMMM3M Company backs FY14 EPS view $7.30-$7.55, consensus $7.46
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07:32 EDTMMM3M Company reports Q1 EPS $1.79, consensus $1.80
Reports Q1 revenue $7.83B, consensus $7.96B. Reports organic local-currency sales growth of 4.6%.
April 23, 2014
15:35 EDTMMMNotable companies reporting before tomorrow's open
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07:47 EDTMMM3M Company April weekly volatility elevated into Q1 and growth outlook
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April 16, 2014
08:17 EDTMMM3M against proposal for shareholder actions without vote first, Reuters says
3M Company said its board opposed a proposal by shareholder James McRitchie to allow investors with a certain amount of shares to take a specific action through written consent without voting first, according to Reuters, citing a company letter to stockholders. Reference Link

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