This blue-chip stock just suffered its biggest drop since 1987
Shares of 3M Co. rang up its biggest one-day decline in over 30 years, after the industrial, health-care and consumer products company missed profit and revenue expectations, slashed its full-year outlook, and said it was cutting 2,000 jobs.
The percentage decline was second only to the 26% plunge on Oct. 19, 1987. That is the day referred to as Black Monday, with the Dow registered its biggest-ever one-day crash with a 22.6% tumble.The company behind brands such as Post-it, Scotch, Nexcare and Command, reported first-quarter results before Thursday’s open, showing net income of $891 million, or $1.51 a share, from $602 million, or 98 cents a share, in the same period a year ago.
3M cut its guidance range for 2019 adjusted EPS, which excludes litigation-related charges, to $9.25 to $9.75 from $10.45 to $10.90. On the post-earnings conference call with analysts, Chief Financial Officer Nick Gangestad said the industrial business saw a “broad-based slowdown across most of its portfolio,” highlighted by a 9% drop in its automotive business, including a 6% decline in car and light-truck builds.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
3M’s shares on verge of worst day since 1987 stock-market crashShares of 3M Co. plunge toward biggest one-day decline in over 30 years, after the industrial, health care and consumer products company reported missed...
Consulte Mais informação »
3M’s stock on verge of worst day since 1987 stock-market crashShares of 3M Co. plunge toward biggest one-day decline in over 30 years, after the industrial, health care and consumer products company reported missed...
Consulte Mais informação »
3M’s stock on verge of worst day since 1987 stock-market crashShares of 3M Co. plunge toward biggest one-day decline in over 30 years, after the industrial, health care and consumer products company reported missed...
Consulte Mais informação »
3M’s shares on verge of worst day since 1987 stock-market crashShares of 3M Co. plunge toward biggest one-day decline in over 30 years, after the industrial, health care and consumer products company reported missed...
Consulte Mais informação »
MSFT Stock | MICROSOFT Stock Price Today | Markets Insider
Consulte Mais informação »
FB Stock | FACEBOOK Stock Price Today | Markets Insider
Consulte Mais informação »
INTC Stock | INTEL Stock Price Today | Markets Insider
Consulte Mais informação »
A stock-market correction is coming, but don’t ‘head for the hills yet’, says BNY MellonLiz Young, director of market strategy at BNY Mellon, is a unsettled by how far and fast equities have risen this year, but it’s no time to “head for the...
Consulte Mais informação »
Health-care stocks could rebound after their worst week of the yearHealth care's sharp drop comes as investors worry that left-leaning policy ideas like universal health coverage are gaining support.
Consulte Mais informação »
You can find plenty of solid stock bargains in this year’s worst-performing sector, analysts sayYou can find plenty of solid stock bargains in this year’s worst-performing sector, analysts say (via philipvandoorn)
Consulte Mais informação »
World stocks slip, euro suffers, growth fears lingerWorld equity markets slipped on Thursday amid worries on global growth and as in...
Consulte Mais informação »