Dow Jones News: 3M Eyes $1 Billion Divestiture; Microsoft Could Launch New Consumer Bundle in 2020
The Dow Jones Industrial Average (DJINDICES: ^DJI) rocketed higher on Friday, up 1.2% by 2:25 p.m. EST following some very strong jobs data. Payrolls rose 266,000 in November, well ahead of estimates, helped along by the end of the strike at General Motors. The unemployment rate fell to 3.5%, the lowest since 1969.
Leading the Dow on Friday was 3M (NYSE: MMM), which jumped following reports that the company was looking at divesting a business unit for around $1 billion. Shares of Microsoft (NASDAQ: MSFT) were also higher, possibly helped by rumors of a broader consumer-software bundle coming next year.
Industrial conglomerate 3M led the Dow on Friday, rising 3.8% after Bloomberg reported that the company is exploring the sale of its drug-delivery systems unit -- which could be worth about $1 billion, according to Bloomberg's sources. The drug-delivery systems unit produced $300 million of revenue in the first nine months of the year, down 11% from the prior-year period.
Source Fool.com
