Why Shares of 3M Are Falling Today
Shares of 3M (NYSE: MMM) fell more than 5% on Thursday following the release of the diversified manufacturer's third-quarter earnings report. 3M actually generated quarterly earnings that came in ahead of expectations, but investors were more focused on the company cutting fourth-quarter and full-year guidance.
Before markets opened on Thursday, 3M reported third-quarter earnings of $2.72 per share on revenue of $8 billion, beating the $2.49-per-share earnings consensus despite coming in a little light on revenue. The quarter included a $0.14-per-share benefit from the divestiture of the company's gas- and flame-detection business.
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Source Fool.com
