A partnership between 3M Company’s (MMM) Post-it Brand and Evernote, announced on Sep 26, failed to lift investors' sentiments. 3M’s shares dropped 0.4% on Sep 27, negating any bullish sentiment from the partnership that looks to fill the analog-digital gap.
The partnership with Evernote, a company that builds applications and products, is claimed to provide a new digital life to Post-it products using Evernote’s technology. Photos clicked with the Post-it Note Camera will instantly transform any Post-it Note into a digital memory that can be saved and shared anywhere. The feature will be available exclusively in Evernote for iOS 7.
The Post-it Brand aims to develop new and innovative solutions for people in their busy daily lifestyle. Evernote technology will allow users to have a seamless link between the analog and digital world.
Also, the companies are introducing special packs of co-branded Post-it Products with a free 30-day subscription to Evernote Premium with purchase. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.
The partnership works in tune with 3M’s focus on inventing new products and maintaining its competitive advantage worldwide.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide, thus maintaining the security of people and documents.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Federal Signal Corp (FSS), having a Zacks Rank #1 (Strong Buy), ITT Corporation (ITT) and LSB Industries Inc (LXU), each having a Zacks Rank #2 (Buy).
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