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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: vagabond who wrote (6330)	7/26/2000 9:28:31 AM
From: puborectalis	Respond to of 24256

3M beats quarterly expectations By William L. Watts, CBS.MarketWatch.com Last Update: 8:48 AM ET Jul 26, 2000 NewsWatch Latest headlines ST. PAUL, Minn. (CBS.MW) - Manufacturing conglomerate Minnesota Mining and Manufacturing posted stronger-than-expected second-quarter earnings Wednesday, citing global product strength and productivity gains. Today on CBS MarketWatch Stocks heading for soggy open 3M beats quarterly expectations DaimlerChrysler warns of slowing second half Compaq matches Wall Street profit estimates StockWatch: Nice guys for the Net More top stories... CBS MarketWatch Columns Updated: 7/26/2000 8:33:18 AM ET 3M (MMM: news, msgs), which makes products ranging from Post-It notes to electrical insulating products to fabric protectors, said second-quarter earnings were $470 million, or $1.18 a share, compared to $421 million, or $1.03 a share, in the same period last year. A survey of analysts by First Call produced a consensus estimate of $1.17. Sales rose 9 percent to $4.224 billion from $3.863 billion in the same period last year. "We continue to deliver solid growth," said CEO L.D. DeSimone. "We're going through a strong flow of innovative products, increasing participation in dynamic industries and our strong global presence." DeSimone said productivity gains also contributed to the company's financial performance. Specifically, DeSimone said 3M saw strong growth in its electro communications businesses, as well as its consumer and office, and transportation, graphics and safety segments.