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MMM

3M

$219.24

-0.28 (-0.13%)

06:33
04/25/19
04/25
06:33
04/25/19
06:33

3M to cut 2,000 positions worldwide

Reflecting a slower than expected 2019, 3M has initiated restructuring and other actions that will result in an expected reduction of 2,000 positions worldwide with an estimated annual pre-tax savings range of $225M to $250M, with $100M in the remainder of 2019. The company anticipates a pre-tax charge in 2019 of approximately $150M, or 20c per share. These actions will span all business groups, functions and geographies, with emphasis on corporate structure and underperforming areas of the portfolio.

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MMM 3M
$219.24

-0.28 (-0.13%)

03/29/19
JPMS
03/29/19
NO CHANGE
Target $154
JPMS
Underweight
3M price target lowered to $154 from $158 at JPMorgan
JPMorgan analyst Stephen Tusa lowered his price target for Underweight-rated 3M to $154 from $158. The analyst says he continues to see evidence of structurally lower profit growth as the company faces an "increasingly apparent trade-off between top line growth and margins." Seasonality, which is typically consistent for "this short cycle player," suggests an earnings per share number that is well below consensus at ~$10, Tusa tells investors in a research note partially titled "The Opposite Of Compounding." 3M's "earnings curve continues to have a downward slope," Tusa writes.
03/25/19
DBAB
03/25/19
NO CHANGE
DBAB
Deutsche Bank makes 'Catalyst Call' to buy Honeywell, sell 3M
Deutsche Bank analyst Nicole DeBlase is making a "Catalyst Call" to buy shares of Honeywell (HON) and sell shares of 3M (MMM). The analyst sees continued potential for earnings beats and full year guidance raises from Honeywell given its "attractive exposure" to late-cycle end markets. These include, according to the analyst, aerospace and defense and non-residential construction, along with secular growth drivers such as warehouse automation. On the other hand, DeBlase forecasts a "substantial" 4% earnings miss in Q1 for 3M. The company is exposed to a number of end markets that have faced quarter-over-quarter deterioration, including automotive and electronics and China, the analyst tells investors in a research note. She does not view even the low end of 3M's guidance as achievable. Moreover, she points out that 3M is the most expensive stock she covers. DeBlase has a Buy rating on Honeywell with a Sell rating on 3M.
01/30/19
JEFF
01/30/19
NO CHANGE
Target $209
JEFF
Hold
Jefferies 'incrementally cautious' on 3M, sees shares as range-bound
Jefferies analyst Laurence Alexander is "incrementally cautious" on 3M following yesterday's Q4 results. The analyst expects the shares to remain range-bound until after the Chinese New Year and a "more favorable global industrial outlook presents itself." He keeps a Hold rating on 3M with a $209 price target.
01/15/19
JPMS
01/15/19
NO CHANGE
JPMS
Neutral
GE risk/reward unfavorable into Q4 report, says JPMorgan's Tusa
JPMorgan analyst Stephen Tusa says the risk/reward on shares of General Electric (GE) is unfavorable into the company's Q4 earnings report. GE shares have bounced over the last month, outperforming the group by over 3,000 basis points, Tusa writes in a research note previewing earnings reports for the group. He believes the recent stock move "is built upon an expectation of more certainty in the path forward." Tusa thinks the focus on the earnings call should turn back to fundamentals, where he continues to see "disconnect with high level analyses from those who apparently ignore the mechanical headwinds from dilutive asset sales, a key aspect as to why FCF remains so weak." The call will "reinforce the Bear case that there is no concrete silver bullet plan, and much remains fluid, also negative," Tusa contends. He recommends Honeywell (HON) and Emerson Electric (EMR) as longs into the quarter and tells investors to avoid Johnson Controls (JCI), 3M (MMM) and Rockwell Automation (ROK). Tusa has a Neutral rating on General Electric.

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GS

Goldman Sachs

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DB

Deutsche Bank

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UAL

United Continental

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TGT

Target

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INTC

Intel

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BA

Boeing

$347.19

-1.54 (-0.44%)

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GS

Goldman Sachs

$191.71

0.24 (0.13%)

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BA

Boeing

$347.19

-1.54 (-0.44%)

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ESLT

Elbit Systems

$154.55

0.55 (0.36%)

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AMGN

Amgen

$176.09

-0.74 (-0.42%)

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  • 16

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SILK

Silk Road Medical

$44.80

-0.95 (-2.08%)

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EDIT

Editas Medicine

$21.72

-0.78 (-3.47%)

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SNSS

Sunesis

$0.90

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APLS

Apellis

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FTSV

Forty Seven

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AZN

AstraZeneca

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-0.23 (-0.58%)

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STRO

Sutro Biopharma

$11.17

-0.34 (-2.95%)

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BPMC

Blueprint Medicines

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INCY

Incyte

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AbbVie

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, INCY

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$77.76

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RHHBY

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RIGL

Rigel Pharmaceuticals

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SNY

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SGEN

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STML

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VSTM

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AMZN

Amazon.com

$1,870.07

-0.23 (-0.01%)

, GRUB

GrubHub

$70.15

-2.76 (-3.79%)

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AMZN

Amazon.com

$1,870.07

-0.23 (-0.01%)

GRUB

GrubHub

$70.15

-2.76 (-3.79%)

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ABC

AmerisourceBergen

$85.01

-1.46 (-1.69%)

, CAH

Cardinal Health

$44.16

-1.13 (-2.50%)

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ABC

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$85.01

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CAH

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MCK

McKesson

$133.19

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RTN

Raytheon

$177.38

0.195 (0.11%)

, UTX

United Technologies

$125.30

0.45 (0.36%)

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RTN

Raytheon

$177.38

0.195 (0.11%)

UTX

United Technologies

$125.30

0.45 (0.36%)

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