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This stock MMM formed excellent technical GAP up with good volume. May go up easily higher in coming days. My short term projection is about 114 $
3M reaches—(tentative)—$10B+ PFAS settlement with US municipalities, according_to_Bloomberg:
https://www.bloomberg.com/news/articles/2023-06-02/3m-said-to-be-in-at-least-10-billion-pfas-pollution-settlement-lieqkmut
Earplugs don't cause hearing loss! Strong pressure waves do!
3M earplug-litigation update:
https://finance.yahoo.com/news/3m-ceo-must-attend-mediation-215026124.html
3M files Michael Vale for undisclosed personal conduct:
https://finance.yahoo.com/news/3m-announces-departure-michael-vale-120000437.html
Vale was recently promoted as part of 3M’s restructuring (#msg-171767169).
New management level, 6000 have to go.
3M changes in senior management pertaining to the corporate restructuring announced today:
https://investors.3m.com/news/news-details/2023/3M-Announces-Senior-Management-Team-Changes/default.aspx
3M 1Q23 results and restructuring announcement…
PR:
https://investors.3m.com/news/news-details/2023/3M-Reports-First-Quarter-2023-Results-Company-Announces-Restructuring-Actions/default.aspx
CC slides:
https://s24.q4cdn.com/834031268/files/doc_financials/2023/q1/1Q-2023-Earnings-Presentation.pdf
Full-year 2023 guidance (#msg-171018740) remains unchanged. New guidance for 2Q23 is shown on slide #13.
3M’s healthcare spin-off remains on track for closing in 2023.
What does JNJ’s talc settlement mean for 3M?
a) Good news for 3M
b) Bad news for 3M
c) Neutral for 3M
Comments?
JNJ’s talc litigation heads to US Supreme Court:
https://www.wsj.com/articles/j-j-fails-to-win-appellate-rehearing-of-talc-units-bankruptcy-dismissal-a23374be
3M’s Aearo subsidiary is submitting a motion to the bankruptcy court to include the data in #msg-171328905 in the ongoing litigation. (Source: Today’s 3M webcast at the JPM conference.)
What are you saying, exactly?
Lol. Lawyers talk for the next 4 - 5 years.
Hear Hear!!! no pun intended LOL. The more I age the more I see hearing loss is a normal part of the aging process for many people. I believe that there will be a lot of people with normal age, genetic, or some other environmental variable that is root cause for hearing loss with their hands out. $MMM long
Yep, I learned a lot from that video, too. Then you have to exclude normal hearing loss that most people experience with age. It would be wrong to cut every plaintiff a fat check for minor, normal hearing loss at, say, age 80.
I thought the question in your original post of that video was rhetorical, but I now see that faking hearing loss can't be done. Thanks for posting the video!
"How to FAKE Hearing Loss During A Hearing Test." This convincing video says you can't do it.
3M says 85-90% of earplug plaintiffs have_no hearing loss:
https://investors.3m.com/news/news-details/2023/Department-of-Defense-Data-Reveals-No-Hearing-Loss-Among-Vast-Majority-of-Plaintiffs-in-Combat-Arms-Earplug-Litigation/default.aspx
"I've held MMM for years" Sorry to hear about your loss. My opinion is that we are good to go from here. Didn't know you were a spelling teacher, thanks for the correction $MMM long and strong!
I'm not sure what all that was about, but Buffett (note correct spelling) has long recommended S&P 500 index funds. Berkshire Hathaway currently owns two of them, VOO and SPY.
I've held MMM for years and Index funds for much longer.
I get it, at this point there are a lot of longs that are at a loss. To answer your comment, nothing "predicts" stock movement any better then the weather man "predicts" the weather, its all odds with a few dozen unknown variables. Warren Buffet, the greatest investor in history also states that portfolio diversification is foolish and indicates that one should buy a great company at a great price and hold it forever. I just so happen to think this is a great price to buy into this great company. IMO the next business cycle, that is beginning right now, will be great for $MMM. $MMM long and strong! Good luck to you!
Are poor earnings and weak dividend growth gifts too? as far as the chart, there's never been any evidence that TA predicts stock movement. Buffett,, the greatest investor in history doesn't even have a computer on his desk in Omaha.
I've long owned MMM, but it's the dog of my large and diversified portfolio
Best years are over. Next stop $97.
Been waiting to buy MMM!
Those ugly numbers are largely a result of the earplug litigation. If 3M can get limit the earplug liability, the other problems should take care of themselves in due course.
3M Q dividends. My worst grower lately by miles
Date Dividend
Mar 12, 2023 1.50 Dividend
Nov 17, 2022 1.49 Dividend
Aug 19, 2022 1.49 Dividend
May 19, 2022 1.49 Dividend
Feb 17, 2022 1.49 Dividend
Nov 18, 2021 1.48 Dividend
Aug 20, 2021 1.48 Dividend
May 20, 2021 1.48 Dividend
Feb 11, 2021 1.48 Dividend
Nov 19, 2020 1.47 Dividend
Aug 21, 2020 1.47 Dividend
May 21, 2020 1.47 Dividend
Feb 13, 2020 1.47 Dividend
Nov 21, 2019 1.44 Dividend
Aug 15, 2019 1.44 Dividend
May 23, 2019 1.44 Dividend
Feb 14, 2019 1.44 Dividend
Nov 21, 2018 1.36 Dividend
Aug 23, 2018 1.36 Dividend
May 17, 2018 1.36 Dividend
Feb 15, 2018 1.36 Dividend
3M YTD -2.52%; Perf for 12 months -27.2%, my worst performer YTD and probably the last several years.
3M increases dividend for 65th consecutive year:
https://finance.yahoo.com/news/3m-board-declares-quarterly-dividend-215700658.html
The quarterly increase was only a penny—from $1.49 to $1.50—so it’s pretty clear that the raise is mainly to keep the streak alive.
At the current share price ($116.90), the new annualized payout of $6.00 is a yield of 5.1%.
3M reports 4Q22 results—issues 2023 guidance:
https://s24.q4cdn.com/834031268/files/doc_financials/2022/q4/2022-Q4-Earnings-Release-vFinal.pdf
3M’s lineup at CES:
https://finance.yahoo.com/news/3m-innovation-full-display-ces-141500180.html
3M is appealing this matter to the 7th US Circuit Court (#msg-170191027), so Judge Rodgers’ statement today has no practical consequence, as far as I can tell.
"Judge penalizes 3M, bars it from shifting liability in earplug litigation"
"(Reuters) - A U.S. judge on Thursday barred 3M Co from trying to avoid liability for injuries current and former U.S. military members sustained from its allegedly defective earplugs by shifting blame to a subsidiary.
U.S. District Judge M. Casey Rodgers, the Pensacola, Florida-based judge tasked with overseeing nearly 250,000 cases over the combat earplugs, said 3M deserved the "harshest penalty" for its "bad faith" attempts to transfer the liability to a bankrupt unit."
https://finance.yahoo.com/news/u-judge-penalizes-3m-bars-233244902.html
3M—US Chamber of Commerce files amicus brief in support of 3M’s petition before the 7th US Circuit Court with respect to earplug litigation:
https://finance.yahoo.com/news/surprise-u-chamber-backs-3m-003147746.html
3M will_cease_making PFAS products_by_end_of 2025:
https://finance.yahoo.com/news/3m-exit-pfas-manufacturing-end-113000562.html
3M’s current annual PFAS sales are $1.3B, about 4% of total corporate sales.
When a company slashes guidance (again) and the stock is flattish (as it is this morning), it may be a hint that the share price is close to a bottom.
3M is seeing some moderation of price inflation in the logistics area.
3M reports 3Q22 results—lowers 2022 EPS guidance_again…
PR:
https://investors.3m.com/news/news-details/2022/3M-Reports-Third-Quarter-2022-Results/default.aspx
CC slides:
https://s24.q4cdn.com/834031268/files/doc_financials/2022/q3/3Q-2022-Earnings-Slides.pdf
2022 non-GAAP* EPS guidance has been lowered to $10.10-10.35 (vs $10.30-10.80 three months ago and $10.75-11.25 six months ago). The biggest components of the lowered guidance vs three months ago are FX and supply-chain bottlenecks.
*Excludes legal expenses for earplug and PFAS cases. The next trial in the earplug MDL will be in Feb 2023. The next trial in the PFAS MDL will be in Jun 2023.
3M—Federal Appellate Court agrees to hear Aearo-bankruptcy case:
https://www.wsj.com/articles/3m-earns-appellate-review-of-earplug-units-bankruptcy-shield-11665682266
Employees paying for mismanagement. 3M cuts jobs.
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