|March 18, 2014|
|06:56 EDT||MMM||3M CEO predicts China sales growth triple global pace, Bloomberg says|
3M CEO Inge Thulin predicts that China sales will grow three times quicker than the company’s total revenue due to demand for health and consumer products such as face masks and water filters, according to Bloomberg, citing comments from Thulin. Reference Link
News For MMM From The Last 14 Days
|October 7, 2015|
|13:19 EDT||MMM||3M enters licensing agreement with Lotus Applied Technology |
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|October 6, 2015|
|11:19 EDT||MMM||3M sells Faab Fabricauto to Hills Numberplates|
3M announced that 3M France has received a binding offer from Hills Numberplates Limited to purchase 100% of the shares of Faab Fabricauto, a wholly-owned subsidiary of 3M and part of 3M's Traffic Safety and Security Division. Faab Fabricauto is a French manufacturer of license plates and signage solutions. Faab Fabricauto has annual sales of approximately $30M. The transaction is expected to be signed by 3M France and closed during Q4, subject to consultation requirements with the relevant French Works Councils. The approximately 150 employees of Faab Fabricauto are expected to transition with the business when the transaction closes. 3M expects the earnings impact from the transaction to be offset by additional portfolio management actions in Q4.
|11:10 EDT||MMM||3M sells Library Systems business to One Equity Partners|
3M announced that it has completed the sale of assets of its North American Library Systems business to One Equity Partners Capital Advisors. 3M also announced that it has entered into agreements for OEP to purchase the assets of its remaining global Library Systems business. 3M Library Systems business delivers circulation management solutions to library customers. The business posted global sales over the last 12 months of approximately $100M. The remaining sale of assets is expected to be completed in Q4 subject to customary closing conditions and consultation or information requirements with relevant works councils. When both transactions are closed, approximately 100 3M employees are expected to join OEP. 3M expects the earnings impact from the transactions to be offset by additional portfolio management actions in Q4. "After a thorough strategic review, we have decided to exit the Library Systems business, and focus on our core businesses such as reflective traffic safety and vehicle identification solutions, and our public security identification and monitoring portfolio," said John Riccardi, vice president and general manager, 3M Traffic Safety and Security Division.
|October 5, 2015|
|12:51 EDT||MMM||3M Drug Delivery Systems and Impel NeuroPharma form strategic alliance |
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|September 25, 2015|
|10:00 EDT||MMM||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: 3M (MMM) upgraded to Outperform from Neutral at Credit Suisse... ACE Limited (ACE) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Buy from Outperform at CLSA... Autoliv (ALV) upgraded to Sector Perform from Underperform at RBC Capital... Bed Bath & Beyond (BBBY) upgraded to Market Perform at Telsey Advisory... Box (BOX) upgraded to Buy at Canaccord... Chevron (CVX) upgraded to Peer Perform from Underperform at Wolfe Research... CyberArk (CYBR) upgraded to Buy from Neutral at Nomura... Exelon (EXC) upgraded to Buy from Neutral at Guggenheim... General Growth (GGP) upgraded to Outperform from Market Perform at BMO Capital... Intel (INTC) upgraded on positive checks, developments at JMP Securities... KLA-Tencor (KLAC) upgraded to Outperform from Underperform at CLSA... Lam Research (LRCX) upgraded to Buy from Outperform at CLSA... Marvell (MRVL) upgraded to Buy from Hold at Craig-Hallum... Nike (NKE) upgraded on share gains at Sterne Agee CRT... Spirit Airlines (SAVE) upgraded to Outperform from Market Perform at Cowen... United Rentals (URI) upgraded to Neutral from Underperform at BofA/Merrill.
|06:49 EDT||MMM||3M upgraded to Outperform from Neutral at Credit Suisse|
Credit Suisse upgraded 3M to Outperform and raised its price target to $160 from $155. Analyst Julian Mitchell believes risk/reward is attractive following the share pullback and said it is one of the few stocks in the group that can growth earnings at a double-digit pace next year without a sharp improvement in the macro environment. Mitchell believes shares now reflect negative factors and not positives, including management's willingness to use the balance sheet to shore up earnings growth.