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3M Co.
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8:59 a.m. Oct. 19, 2021 - By Tomi Kilgore
3M reaches deal to resolve litigation related to addressing PFAS issues near Alabama facilityShares of 3M Co. rose 0.5% in midday trading Tuesday, after the industrial and consumer products company said it reached an agreement with several parties resolve litigation related to addressing pre- and polyfluoroalkyl substances (PFAS) issues near the Decatur, Ala. facility. The company, the parent of brands including Post-it notes, Scotch tape and Ace bandages, said the parties that it has reached agreement with include The City of Decatur and Morgan County, the plaintiffs in St. John and the Tennessee Riverkeeper organization. As part of the agreement, 3M said it will contribute $99 million to build "a stronger environment and community in Decatur and the surrounding area." For Tennessee Riverkeeper and St. John plaintiffs, 3M said it will continue environmental characterization, including testing soil, ground water and sediment for PFAS. The stock has gained 4.5% year to date, while the Dow Jones Industrial Average has advanced 15.8%.
9:59 a.m. Oct. 4, 2021 - By Tomi Kilgore
3M stock hits 7-month low after J.P. Morgan downgradeShares of 3M Co. fell to a more than seven-month low before paring losses, after J.P. Morgan analyst Stephen Tusa downgraded the parent of Post-it and Scotch brands maker of N95 masks, citing a lack of fundamental direction and continued uncertainty regarding environmental liabilities. The stock was down 0.3% in afternoon trading, but was down as much as 1.6% at its intraday low of $173.78, the lowest price seen since Feb. 24. Tusa cut his rating to neutral, after being at overweight since Jan. 27, while trimming his price target to $210 from $215. "On the liability front, one could argue visibility is worse now than before, and the company's decision to report expenses in the segments, as opposed to breaking them out in corporate, is difficult to understand, while recent ear-plug suits are negative new news," Tusa wrote in a note to clients. " On the businesses, after a short bump on growth off of a bottom, the company is again missing big on margins on only a slight decline in sales and our historical concerns around an impaired business model here remain - economic recovery has not cured this problem, and companies that continually deliver big misses on only minor fundamental bumps are lower quality and deserve a discount." The stock has shed 11.9% over the past three months, while the Dow Jones Industrial Average has slipped 2.4%.
7:16 a.m. Sept. 7, 2021 - By Tomi Kilgore
3M stock sinks to lead the Dow's losers, heads for first close below 200-DMA in 13 monthsShares of 3M Co. sank 3.0% in morning trading Tuesday, enough to pace the Dow Jones Industrial Average's decliners and to put them on track to close at a 5 1/2-month low. The industrial and consumer products company's stock, stock's price decline of $5.85 is shaving roughly 39 points off the price of the Dow, which is down 280 points, or 0.8%, with 24 if 30 components losing ground. 3M shares are also on track to close below its 200-day moving average (200-DMA), which many on Wall Street view as a dividing line between longer-term uptrends and downtrends, for the first time since Aug. 6, 2020. The stock has now shed 9.1% since closing at a two-year high of $207.33 on May 10, 2021. The company's most recent press release was on Friday, which was to announce that it will host an investor event on Sept. 13. The stock has now lost 7.5% over the past three months, while the SPDR Industrial Select Sector ETF has slipped 1.6% and the Dow has gained 1.3%.
6:05 a.m. Aug. 2, 2021 - By Tomi Kilgore
GE stock rallies, trades above $100 after reverse split takes effectFor General Electric Co. investors who might have done a double take when they saw their stock trading above $100, the reason is because the 1-for-8 reverse stock split the industrial conglomerate proposed earlier this year just went into effect. The stock rose 2.1% in morning trading to $105.80, which implies a pre-split adjusted price of about $13.23. The stock's new split-adjusted record close is Aug. 28, 2000's $461.40. GE had said in March that it , which is typically effected by companies looking to boost their share price to avoid delisting or to make it appear more attractive to certain institutional investors, because the company wanted to "decrease the number of shares outstanding to a number more typical of companies with comparable market capitalization." GE's current market cap is about $116.1 billion. As of June 30, GE had 8.78 billion shares outstanding; the reverse split multiplies the stock price by eight but also divides the shares outstanding by eight, to bring it down to about 1.10 billion shares. In comparison, fellow S&P 500 components 3M Co. , with a market cap of $115.4 billion, has 578.6 million shares outstanding as of June 30, and Caterpillar Inc. , with a market cap of $114.8 billion, had 547.8 million shares outstanding as of March 31, according to their latest 10-Q filings.
2:51 a.m. July 27, 2021 - By Ciara Linnane
3M tops earnings estimates and raises guidance3M Co. said Tuesday it had net income of $1.524 billion, or $2.59 a share, in the second quarter, up from $1.306 billion, or $2.25 a share, in the year-earlier period. Adjusted per-share earnings were also $2.59, ahead of the $2.28 FactSet consensus. The diversified industrial company and maker of Post-It notes said sales rose to $8.950 billion from $7.176 billion, also ahead of the $8.525 billion FactSet consensus. The company is now expecting full-year sales to grow 7% to 10%, up from prior guidance of 5% to 8%. It expects per-share earnings to range from $9.70 to $10.10, against prior guidance of $9.20 to $9.70. Shares were up 0.8% premarket and have gained 15.4% in the year to date, while the S&P 500 has gained 17.7%.
9:08 a.m. April 29, 2021 - By MarketWatch Automation
10:31 a.m. April 27, 2021 - By Tomi Kilgore
3M stock drops despite earnings beat, as cost inflation seen taking a bigger bite out of profitsShares of 3M Co. sank 2.4% in afternoon trading, enough to pace the Dow Jones Industrial Average's decliners, even as the consumer, health care and industrial products company . The stock's $4.81 price decline was shaving about 32 points off the Dow's price, while the Dow was up 7 points, or less than 0.1%. Investors may be concerned about 3M's comments regarding the expected negative impact that will have on earnings this year. In the first quarter, Chief Financial Officer Monish Patolawala said 3M experienced increasing costs, particularly for raw materials and logistics, due primarily to the stronger demand, the ongoing COVID-19 pandemic and Winter Storm Uri. "In our view, we expect global supply chain dynamics to remain fluid and for raw material and logistics headwinds to persist," Patolawala said, according to a FactSet transcript of the post-earnings conference call with analysts. "Therefore, we now anticipate a full-year raw materials and logistics headwind of 30 cents-to-50 cents per share versus a prior expectation of flat to a 10-cent headwind at the start of the year."
2:41 a.m. April 27, 2021 - By Tomi Kilgore
3M stock climbs after profit beats, and all 4 business segments top revenue forecastsShares of 3M Co. climbed 1.5% toward a two-year high in premarket trading Tuesday, after the consumer, health care and industrial products company, which makes Post-it Notes and N95 face masks, reported first-quarter profit and revenue that beat expectations, and affirmed its full-year outlook. Net income increased to $1.62 billion, or $2.77 a share, from $1.31 billion, or $2.27 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.77 was well above the FactSet consensus of $2.29 a share. Sales rose 9.6% to $8.85 billion, beating the FactSet consensus of $8.44 billion. Health care sales rose 6.8% to $2.2 billion, above the FactSet consensus of $2.17 billion; safety and industrial sales grew 13.7% to $3.3 billion, topping expectations of $3.19 billion; consumer sales increased 9.8% to $1.4 billion, above expectations of $1.34 billion; and transportation and electronics sales rose 13.1% to $2.5 billion, compared with expectations of $2.32 billion. "Our four industry-leading businesses are delivering strong results, while we accelerate 3M's digital transformation and sustainability efforts with significant new goals to improve air and water quality," said Chief Executive Mike Roman. For 2021, 3M affirmed its EPS guidance range $9.20 to $9.70 and its sales growth outlook of positive growth of 5% to 8%. The stock has climbed 7.0% over the past three months through Monday, while the Dow Jones Industrial Average has gained 12.1%.
5:45 a.m. April 19, 2021 - By MarketWatch Automation
8:26 a.m. April 9, 2021 - By Michael Ashbaugh
Charting a Farewell Focus: 10-year yield asserts the range, Semiconductor sector presses record highs, TNX, SMH, KLAC, ROST, FOUR, ZENThis is the final edition of The Technical Indicator on MarketWatch. As its founder, and continuous editor since 2003, it has been a blast publishing for engaged and knowledgable readers for nearly 18 years.
5:46 a.m. April 9, 2021 - By MarketWatch Automation
8:12 a.m. April 8, 2021 - By Michael Ashbaugh
Bullish momentum persists: S&P 500 (slightly) extends April breakout Focus: Communications services sector tags record highs, Apple’s stealth trendline breakout, XLC, AAPL, IBM, ON, NUANU.S. stocks are mixed early Thursday, vacillating ahead of scheduled remarks from the Federal Reserve Chairman. Against this backdrop, the S&P 500 has tagged its latest record high, though narrowly, while the Nasdaq Composite has extended an already-aggressive trendline breakout.
7:58 a.m. April 7, 2021 - By Michael Ashbaugh
Bull trend confirmed: S&P 500 tags technical target (4,085) Focus: Europe digests break to 12-year highs, IEV, ASML, ADI, EMR, YUMU.S. stocks are mixed early Wednesday, vacillating ahead of the release of the Federal Reserve’s meeting minutes, due out this afternoon. Against this backdrop, the S&P 500 and Dow industrials are digesting decisive breaks to record territory, while the Nasdaq Composite has sustained an aggressive trendline breakout.
8:55 a.m. April 6, 2021 - By Michael Ashbaugh
Charting a bullish technical tilt, S&P 500 extends break atop 4,000 mark Focus: Consumer staples sustain break to record territory, XLP, VMW, ADSK, LUV, DLTRTechnically speaking, the major U.S. benchmarks have taken flight to start April, rising amid statistically unusual bullish momentum, writes Michael Ashbaugh.
8:33 a.m. April 6, 2021 - By Michael Ashbaugh
Charting a bullish technical tilt, S&P 500 extends break atop 4,000 mark Focus: Consumer staples sustain break to record territory, XLP, VMW, ADSK, LUV, DLTR Technically speaking, the major U.S. benchmarks have taken flight to start April, rising amid statistically unusual bullish momentum. In the process, the S&P 500 and Dow Jones Industrial Average have knifed to record highs, while the Nasdaq Composite has staged a potentially consequential trendline breakout.
8:13 a.m. April 5, 2021 - By Michael Ashbaugh
Charting bullish follow-through, S&P 500 knifes atop 4,000 mark Focus: 2021 currency trends persist, U.S. dollar retests 200-day average, Alphabet tags record high, UUP, FXE, GOOGL, QRVO, SEDG, HESU.S. stocks are firmly higher early Monday, rising after a strong batch of economic data. Against this backdrop, the S&P 500 has extended an April break atop the marquee 4,000 mark, while the Nasdaq Composite has reclaimed a key trendline, rising to place distance atop its 50-day moving average.
8:02 a.m. April 1, 2021 - By Michael Ashbaugh
Charting a bullish Q2 start, S&P 500 tags the 4,000 mark Focus: Semiconductor sector reclaims key resistance, SMH, LRCX, NTAP, MSI, NOVAU.S. stocks are firmly higher early Thursday, rising amid a largely bullish April start. Against this backdrop, the S&P 500 has ventured atop the 4,000 mark for the first time on record, as the Nasdaq Composite vies to simply reclaim its 50-day moving average, currently 13,427.
8:03 a.m. March 31, 2021 - By Michael Ashbaugh
Charting a stealth breakout attempt, S&P 500 tags fractional record high Focus: 10-year yield asserts higher plateau, FedEx extends earnings-fueled breakout, TNX, FDX, X, APD, VCELU.S. stocks are higher early Wednesday, rising as a largely-bullish first quarter concludes. Against this backdrop, the S&P 500 has tagged a fractional record high early Wednesday amid a stealth late-March breakout attempt that remains underway.
6:46 a.m. March 31, 2021 - By MarketWatch Automation
8:43 a.m. March 30, 2021 - By Michael Ashbaugh
Charting the S&P 500’s approach of the 4,000 mark Focus: Basic materials stage bull-flag breakout, Boeing digests rally to 52-week highs, XLB, BA, TGT, FFIV, TXTechnically speaking, the S&P 500 has sustained a reversal from major support, rising to challenge record highs, and within striking distance of the marquee 4,000 mark, writes Michael Ashbaugh.
8:15 a.m. March 30, 2021 - By Michael Ashbaugh
Charting the S&P 500’s approach of the 4,000 mark Focus: Basic materials stage bull-flag breakout, Boeing digests rally to 52-week highs, XLB, BA, TGT, FFIV, TXTechnically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish, on balance, though the prevailing market technicals are not one-size-fits-all. Amid the cross currents, the S&P 500 has sustained a bullish reversal from major support, rising to challenge record highs, and within striking distance of the marquee 4,000 mark.
8:26 a.m. March 29, 2021 - By Michael Ashbaugh
Charting market cross currents: S&P 500 pulls in from record close Focus: Consumer staples and real estate sectors break out, XLP, IYR, TXN, NXPI, KOU.S. stocks are lower early Monday, pressured partly amid concerns that a hedge fund’s forced liquidation may have adverse ripple effects. Against this backdrop, the S&P 500 and Dow industrials have pulled in from their latest record close, even as the Nasdaq Composite vies to simply maintain major support matching the 2020 peak (12,973).
8:30 a.m. March 26, 2021 - By Michael Ashbaugh
Charting a bullish reversal, S&P 500 extends rally from 50-day average Focus: Crude oil weathers key technical test, Dow 30 component Home Depot takes flight, USO, HD, AMAT, FNKO, RACEU.S. stocks are higher early Friday, rising after a market-friendly batch of economic data. Against this backdrop, the S&P 500 has extended a rally from its 50-day moving average, while the Nasdaq Composite seems to have narrowly survived a retest of key support matching the 2020 peak.
8:19 a.m. March 25, 2021 - By Michael Ashbaugh
S&P 500 whipsaws at 50-day average, Nasdaq ventures under key support Focus: March currency cross currents persist, Consumer staples break out amid weakness elsewhere, UUP, FXE, XLP, PG, CSCO, STLD U.S. stocks are lower early Thursday — though well off the session’s worst levels — pressured amid a persistently jagged late-month downturn. Against this backdrop, the S&P 500 has whipsawed at its 50-day moving average, currently 3,870, while the Nasdaq Composite has ventured under important support matching the 2020 peak (12,973).
10:17 a.m. March 24, 2021 - By Michael Ashbaugh
Market rotation persists, S&P 500 capped by the breakdown point Focus: Small- and mid-caps extend March downturn, Nasdaq capped by 50-day averageU.S. stocks are mixed Wednesday, vacillating as Treasury yields continue to stabilize in the wake of largely uneventful Federal Reserve policy remarks. Against this backdrop, the S&P 500 remains capped by its breakdown point (3,950) amid still largely range-bound price action as market rotation persists.
8:27 a.m. March 23, 2021 - By Michael Ashbaugh
Bull trend intact: S&P 500 retests the breakdown point Focus: Home construction ETF rattles cage on a breakout, Intel ‘s backdrop strengthens amid March volatility, ITB, INTC, DISH, LEN JBLTechnically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish, though amid persistently uneven March price action, writes Michael Ashbaugh.
8:02 a.m. March 23, 2021 - By Michael Ashbaugh
Bull trend intact: S&P 500 retests the breakdown point Focus: Home construction ETF rattles cage on a breakout, Intel ‘s backdrop strengthens amid March volatility, ITB, INTC, DISH, LEN JBLTechnically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish, on balance, though amid persistently uneven March price action.
7:40 a.m. March 22, 2021 - By Michael Ashbaugh
Charting a jagged technical test, S&P 500 maintains support (3,915) Focus: Regional banks digest break to record territory, KRE, UNH, M, DDS, DKNGU.S. stocks are higher early Monday, rising at least partly amid easing Treasury yields. Against this backdrop, the S&P 500 has weathered a jagged retest of next support (3,915) to punctuate a mid-March downturn that has thus far inflicted limited true damage.
8:20 a.m. March 19, 2021 - By Michael Ashbaugh
Charting another bull-trend pullback, S&P 500 tags familiar support Focus: Basic materials assert bull flag, XLB, WHR, FTNT, USB, FOURU.S. stocks are mixed early Friday, vacillating in the wake of this week’s Federal Reserve policy actions. Against this backdrop, the bigger-picture backdrop remains bullish, on balance, though the prevailing market technicals are not one-size-fits-all.
10:58 a.m. March 18, 2021 - By MarketWatch Automation
9:57 a.m. March 18, 2021 - By MarketWatch Automation
8:57 a.m. March 18, 2021 - By MarketWatch Automation
8:18 a.m. March 18, 2021 - By Michael Ashbaugh
Charting market rotation: Dow industrials take flight amid surging Treasury yields Focus: 10-year yield continues to take flight, TNX, NDAQ, DHI, XPO, VNOMU.S. stocks are mixed early Thursday, vacillating as market rotation persists after the Federal Reserve’s Wednesday policy statement. Against this backdrop, the Dow Jones Industrial Average has extended a break atop the 33,000 mark, as the Nasdaq Composite vies to simply maintain a posture atop its 50-day moving average.
6:27 a.m. March 18, 2021 - By MarketWatch Automation
7:54 a.m. March 17, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 digests breakout ahead of Fed Focus: Metals & mining sector sustains break to six-year highs, Facebook’s stealth trendline breakout, XME, FB, SIMO, SBUX, ANU.S. stocks are mixed early Wednesday, vacillating ahead of the Federal Reserve’s policy statement, due out this afternoon.
8:53 a.m. March 16, 2021 - By Michael Ashbaugh
Charting rotational breakouts, S&P 500 rallies to record highs Focus: Transports digest March breakout, McDonald’s stages trendline breakout, IYT, MCD, VIRT, CROX, SAVETechnically speaking, the S&P 500 and Dow industrials have staged tandem breakouts — tagging all-time highs — though amid March price action that remains uneven, writes Michael Ashbaugh.
8:28 a.m. March 16, 2021 - By Michael Ashbaugh
Charting rotational breakouts, S&P 500 rallies to record highs Focus: Transports digest March breakout, McDonald’s stages trendline breakout, IYT, MCD, VIRT, CROX, SAVEBroadly speaking, the major U.S. benchmarks are acting well technically, though the March price action remains uneven. Amid the cross currents, the S&P 500 and Dow industrials have staged tandem breakouts — tagging all-time highs — while the Nasdaq Composite has sustained a break to firmer technical ground, though it remains far from record territory.
6:02 a.m. March 16, 2021 - By MarketWatch Automation
8:15 a.m. March 15, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt, S&P 500 nails the range top Focus: Retail sector tags record close, General Motors reaches uncharted territory, XRT, GM, LKQ, ANTM, JWNU.S. stocks are mixed early Monday, vacillating ahead of the Federal Reserve’s mid-week policy meeting. Against this backdrop, the Dow Jones Industrial Average is digesting an aggressive break to record territory, while the S&P 500’s slow-motion breakout attempt remains underway.
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