Philip Morris USA sued 7 China-based websites for allegedly selling counterfeit Marlboro cigarrettes. It also sued 8 retailers in the LA area for selling counterfeit Marlboros. The company has sued more than 2,800 retailers in California since 2002 for allegedly peddling counterfeit versions of its brands.
3M will launch the MP180 pocket projector at CES this month, which offers SVGA resolution at 32 lumens of brightness for two hours.
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3M is preparing for the early exit of CEO George Buckley, who has announced his intention to resign. The board of directors in the process of searching for a successor.
3M fell after it predicted organic sales growth would fall to 5.5-7.5% in 2011 versus 14% this year. Earnings will rise. The company disappointed analyst organic sales growth expectations.
One option player bought 50 Dec 85 calls, positioning themselves for a large move in the stock (below 81.34 or above 88.66) by December expiration.
3M beat expectations for Q3 earnings at $1.53 per share and revenue of $6.9 billion. However, it dropped its full year EPS forecast due to anticipated earnings dilution from recent acquisitions.
3M completed its acquisition of Attenti Holdings, a developer of remote monitoring technologies.
3M announced 2010 Q2 guidance of $6.6 billion to $6.75 billion, above the consensus estimate of $6.58 billion. This reflects organic growth of 16% to 18% over 2009 Q2.
MMM announced it bought MTI PolyFab tfrom Wellington Financial Fund for $25.5 million in cash. MTI is a manufacturer of custom engineered products using silicone and other cellular materials.
3M announced it had acquired JR Phoenix Ltd, a manufacturer of hand hygiene and skin care products for health care and professional use, for an undisclosed amount.
3M spent $460,000 on lobbying the House, Senate, EPA, Department of Homeland Security, and Department of Health and Human Services on H1N1 policies, food safety, healthcare, disaster preparedness, defense, water and air quality, and chemical regulation.
3M said its first quarter net income rose 80% on surging demand for electronics, autos, and healthcare products. It also increased its full-year outlook Sales were strongest overseas, up 47% from a year ago.
3M rose the most of all Dow companies on March 30 after Morgan Stanley said 3M would gain over the next month. MS said that LCD TV shipments have been very strong, and that 3M should follow the improved forecast from Danaher Corp.
3M announced an increase in the quarterly dividend to 52.5 cents per share, payable March 12 to shareholders of record as of Feb 19.
For the fourth quarter of 2009, 3M reported earnings of $935 million, or $1.30 a share. Analysts had expected earnings of $1.21 a share. Revenue increased 11% to $6.1 billion, led by sales in display/graphics products and healthcare products.
JP Morgan downgraded 3M to neutral from overweight, citing its jump in stock value. 3M's shares had risen 45% in 2009 compared to an industry rise of 39%.
3M announced it has entered into an agreement to acquire Incavas Industria de Cabos e Vassouras Ltda, a manufacturer of floor care products based in Rio Grande do Sul, Brazil. Incavas's line of products include squeegees, brushes, dust pans, and brooms.
3M sued Tredegar Corp, claiming that Tredeger has infringed two patents used to add the "hugging" to diapers. Tredegar is a manufactuere of plastic films and aluminum building products which has allegedly been using 3M's protected technology in its Fabriflex 200, 300, and 500 series laminates, used in the CVS brand diaper line.
Sales and per-share earnings increased 8.3% and 20.5% sequentially, combined with a strong increase in free cash flow. (Year-over-year sales and per-share earnings were down 5.6% and 4.3%, respectively, but investors appeared not to care so much about these figures.)
Despite much better than expected earnings released the day prior, CEO George Buckley said the company's sales growth could flatten out in Q4 2009 as the company's restocking of inventory is completed.
3M Company declared a dividend on the Company's common stock of $0.51 per share for the third quarter of 2009, payable on September. 12, 2009, to shareholders of record at the close of business on August 21, 2009.
3M declared a 51 cent per share dividend for Q2 2009 and elected ten directors to the its board.
The employees allege age discrimination for employees over the age of 46. The lawsuit currently involves 50 employees, but could be expanded to include 60000 current and former employees
A judge limited a lawsuit charging that chemicals manufactured by 3M polluted water in Washington County, Minnesota. The judge ruled PFCs do not legally qualify as a "nuisance."
3M gained exclusive rights to provide Clearfield's range of fiber optic management products in Canada
3M looks to increase its presence in the growing solar and other alternative-energy markets and offset pressures on its other businesses. The company alreayd generates about $200 million annually from its solar energy products, a figure that is growing 20% annually.
3M said net income fell 37 percent to $536 million. The company is halting stock repurchases and cutting capital expenditures by 30% to save on costs.
3M is expanding its product offerings through an acquisition of Compac Corp's pressure sensitive adhesive tape assets.
3M is consolidating its Guin, Alabama plant with a facility that's closing in Poca, West Virginia. The company will slow a previously announced expansion project at its 800-employee plant in Decatur. The company has already announced plans to cut 1800 jobs worldwide to save costs.
Declining economic conditions have forced 3M to announce it would cut 1,800 jobs worldwide, force some workers to take vacations during the holidays, and freeze some pay increases until at least the early part of next year.
Shares of 3M fell after Citi downgraded 3M to sell, citing a strengthening dollar and a weakening consumer market
Illinois Tool Works (ITW) agreed to recognize 3M's paint preparation system patents and license them.
Q2 2008 sales grew 10% to $6.7 billion- although excluding the effects of a weaker dollar, local currency sales only increased 4.6%. Net profit for the quarter increased 2.5% to $945 million. Sales and profits increased for all divisions except Display and Graphics.[1]
Sirit and 3M Brazil announced a strategic supply agreement to support transportation projects in Brazil. Sirit makes radio frequency ID (RFID) products, which can be used to monitor cars on toll roads.
3M stock struggled after lower than expected sales volumes and higher than anticipated new capacity
Only company on Dow to net increase on this day.
Stock price rose coming off some new acquisitions and a strong quarter above analyst expectations.
Shares of 3M fell 5.4% on 1/30 when the company forecast per-share profit for 2007 below analysts'
