Shares of 3M Co. kept sinking Friday, toward the lowest close in years, after Wall Street’s most bearish analyst got even more bearish, citing the company’s...
Shares of 3M Co. kept sinking Friday, toward the lowest close in years, after Wall Street’s most bearish analyst got even more bearish, citing the company’s overly optimistic growth outlook at a time of very high inventory levels.
Tusa questioned the company’s financial guidance, which calls for acceleration in the second half of the year mostly in auto electronics and related to China, and says that he is “even more cautious” on the sector after visiting last week. That’s not to mention all the uncertainty regarding the contentious U.S.-China trade relationship, and the downward adjustment that will likely be needed when the acquisition of Acelity Inc. is included.
Add to that uncertainties surrounding environmental liabilities. In the first quarter, the litigation-related charges 3M recorded included a $313 million increase in respirator reserves to resolve coal-mine dust lawsuits and the establishment of $235 million in reserves to resolve matters related to the manufacture and disposal of waste containing perfluorinated compounds .
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple shares fall as Instinet cuts stock price target on China trade tensionsApple Inc. shares slid 1.5% in premarket trade Friday, after Instinet lowered its stock price target to $175 from $180 citing concerns about China trade...
Read more »
Asia shares shudder as Beijing talks toughAsian shares suffered a fresh bout of the shakes on Friday as tough words on tra...
Read more »
AbbVie halts enrollment after brain cancer trial misses goal, shares fallAbbVie Inc said on Friday it has halted enrollment of patients in all ongoing st...
Read more »
Pinterest shares tumble as profit seen elusivePinterest Inc's shares slumped as much as 17% on Friday after the online sc...
Read more »
Fastly shares rocket more than 30% in IPO debutFastly competes against the likes of Amazon and Google to help companies more quickly deliver their content to customers. Now it's a public company.
Read more »
Nvidia revenue forecast beats estimates; shares riseNvidia Corp reported a better-than-expected quarterly profit and forecast second...
Read more »
Pinterest forecasts 2019 revenue in line with estimates, shares fallPinterest Inc forecast full-year revenue mostly in line with analysts' esti...
Read more »
Pinterest Shares Fall After Hours, Following Post-IPO Earnings ReportShares of Pinterest fell 17% in extended trading after the company posted a wider-than-expected loss in its first quarterly report following its public-market debut.
Read more »
Baidu forecasts quarterly revenue below estimates, shares fallChinese search engine operator Baidu Inc on Thursday reported lower-than-expecte...
Read more »