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3M Company (MMM)

NYSE - NYSE Delayed Price. Currency in USD
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144.38+0.55 (+0.38%)
At close: 04:03PM EDT
143.94 -0.44 (-0.30%)
Pre-Market: 04:29AM EDT
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  • c
    compound knowledge
    average statute of limitations to go to trial in each state is 6 years. some states 3 years and some up to 10 years. clock starts ticking not when you discover the injury, but when you discover what caused it
  • R
    Randy Hundley
    Oh boy, subprime again:

    “WSJ reports that millions of Americans with subpar low credit scores are falling behind on paying their credit cards and automobile and personal loans. This is an ominous sign the 'strong consumer' narrative is cracking.

    Data from credit-reporting firm Equifax Inc shows a rise in the share of 60-day delinquencies for subprime credit cards and personal loans. Those delinquencies hit an eight-month high in March, nearing levels not seen since before the virus pandemic.”

    Not only that but:

    “Equifax's data also showed subprime car loans and leases soared to a record-high in February. The data goes back to 2007.”

    And this:

    “There's new concern about the consumer's health. A little over a week ago, the latest data from the Federal Reserve showed credit card debt in March had the largest increase on record at $52.4 billion.”

    In short, the consumer is tapped out. Credit cards are maxed, they can’t afford the cars they drive, and they can’t make their payments. But they’ll buy expensive Scotch tape and Post It’s?
  • P
    Pennywise
    What just happened?
  • R
    Randy Hundley
    At these prices, all it takes is for MMM to drop $6 dollars, and you’ve lost your “hefty dividend”. It is already down ~$3 today — so we’re half way there.

    3M to $105 in 5.5 months.
  • s
    steve
    what is it going to take for 3M's board to take action and bring in new leadership. Granted, lawsuits don't help but the way all of the turmoil is managed is what really sets leaders apart. 3M's is just not strong enough to manage effectively through the mess so its beyond time for a change.
  • L
    Lord
    Trading and investing literally has to do with determination, consistency and having a mindset to never give up is key. Just like a battle or war, we take loss in our stride and continue to fight. Never give up, never get too comfortable and you'll be surprised by the outcome. Forex trading remains the best.
  • R
    Randy Hundley
    What 3M leadership cannot comprehend is the same thing American leadership cannot grasp: the nation and the whole chunk of western economies are on the cusp of a major economic collapse while holding exorbitant amounts of debt. Dealing with debt under these circumstances is dire.

    Like crazy western governments, the company is still spending large on dividends while two things persist: (1) huge debt loads ; and (2) an economic slowdown accompanied by striking producer price increases.

    As I’ve said before, and will say again, attempts to pay down inflated debt using deflated federal reserve notes is nothing short of a recipe for disaster.

    In order to survive in good shape, 3M needs to pay off its debt now for it will not be able to do so when it has no earnings. This business of increasing dividends when equity, bond, and real estate markets are collapsing is much worse than the proverbial ostrich putting its head in the sand. It is the tornado chaser driving right into the path of the cloud.

    The deflation we’re seeing in these three markets is not only not going away, it is rapidly accelerating, and it is doing so while commodity prices swiftly climb. And as both do so, revenue numbers will shrink dramatically while debt will have to financed as much higher interest

    In other words, there’s going to be much less revenue and more expenses. And because 3M does not sell the basic things people need to survive, namely, food, fuel, and housing, it’s sales will have to drop. And drop they will.

    Scotch tape is not going to be on the shopping list when the consumer is dealing with hunger, lack of heat and fuel.

    I stick with my prediction: 3M to $105 in six months. If they scrap the dividend, it may get there sooner. But in the long run, it will save the company, provided the savings are used to pay off debt.

    We are no longer living in your grandparents economy, unless they lived through the Great Depression.
  • c
    compound knowledge
    verdict for veteran James Beal is the largest yet for an individual in a sprawling litigation over the earplugs that as of May 16 included more than 290,000 claims in the Pensacola court, by far the largest mass tort litigation in U.S. history.
    I took a chance that 3m would come out of this but it doesn't look like it
    Neutral
  • C
    Celia
    3M innovation, ot made the list at 74! 3M lost to Honeywell at 43. IBM is number 1.
  • R
    Randy Hundley
    Take a look at a 20 year chart of the DJIA, the SnP 500, the Nasdaq, the Russell 2000. Now do the same for 3M.
  • C
    Celia
    3 M an innovative company? It did not make the list of companies with the most 2021 patents. No surprise IBM leads...
  • p
    pm190605
    I am new to this board, although I worked for 3M in a former life. Is there any fire associated with the earplug litigation smoke? I have done a wee bit of research on the issue. Looks like the settlements, so far, have been outsized but the sources may have been law firms. TIA ==> I guess I have my answer.
    Neutral
  • R
    Randy Hundley
    The DJIA fell to 8,000 the last time the Fed raised rates to any substantial degree. As typical, they did so to curtail price increases. That was back in 2003 to 2006. The Federal funds rate peaked at 5.25% in June 2006 from 1% beginning in June 2003.

    Most of us remember the result: TARP was passed. Income tax revenues from hard working Americans were stolen from them at the point of a gun and were given to the shareholders of poorly managed banks.

    Rather than let the competents buy up the assets of the incompetents, the competents were forced to give their savings to the incompetents, despite a record 90% of the population being against it.

    Then to add insult-to-injury, the competents were forced to buy gasoline and groceries at much higher prices to fund a further Federal Reserve money-printing bailout to the incompetents in the trillions.

    But inflation, as measured by price increases, as silly as that is, was, before the Fed bailouts, minuscule compared to what is seen all around us today. CPI numbers came in at 3.2% in 2006.

    But not only was the system put on life support from those two fascist actions (fascism is the merger of corporate and government powers), they then gave us another one: they brought the FF rate down to zero — remember ZIRP? — for about 10 collective years!

    Now if bringing the FF rate to 1% from June 2003 to June 2004 was sufficient to cause inflation bad enough to bring on the economic ruin of 2009, imagine what trying to contain the inflationary damage from 10 years of ZIRP will bring us!

    It will require much more economic damage to bring the wild inflation horse under control today. To get the FF rate to 2% higher than the CPI would require overnight lending at 10%!

    But even if we assume conservatively that the DJIA will only sink to 8,000 to get that job done, that’s a 75% drop from here.

    A 75% drop in 3M would bring it down to $36 per share. You see, my $105, six month, prediction is not too extreme after all.

    Imagine where we will be in late 2023, 18 months from now.
  • R
    Randy Hundley
    Here it comes. Just like I said.

    “So here is the big news: in April, new job postings fell by 2.0M to 6.6M according to Revelio’s data. This is a huge deal as it represents the largest monthly drop in the available history going back to May 2019!

    Furthermore, the decline was broad-based with 146 of the 147 industries - virtually everyone - reported by Revelio recording a sequential decline in new postings. Moreover, the share of industries with a Y/Y decline in new postings rose to 22.5%, highest since last Feb.”

    “In short, as BofA economist Stephene Juneau writes, the drop in job postings is a sign that labor demand is beginning to cool, although there will be a distinct lag between the crack seen by such 3rd party data collectors as Revelio and the US Department of Labor (just like a year ago we warned that housing inflation was about to soar by looking not at lagging government housing data but real-time metrics from Apartment List and Zillow, see our June 2021 article "And Now Prices Are Really Soaring: June Rent Jump Is Biggest On Record").

    Furthermore, the gap between new postings and voluntary separations will likely narrow when we get the April data from JOLTS, but it is unlikely to close completely (unless the BLS kitchen sinks the April/May data ahead of the midterms). The upshot is that we will likely need to see new job postings fall much further in order to cool down the labor market, and subsequently wage and price pressures.”
  • R
    Randy Hundley
    I won’t mention what’s happening in Europe with respect to price levels. It’s too disgusting even for me to look at.

    But here’s just a sample what our government has done to our currency as a result of excessive government spending.

    Electric bills nationwide rose an average of 8 percent over the past 12 months, the U.S. energy department reported. Rates in Florida, Hawaii, Illinois, and New York spiked as much as 15 percent.

    In the first two months of this year, electricity’s price averaged 14 cents per kilowatt-hour (kW) nationwide. It hit 25 cents in Massachusetts and 38 cents in Hawaii, the highest in the nation.

    Electric bills rose together with the cost of natural gas, which fuels about 40 percent of the country’s electricity generating plants and heats most homes.

    I won’t get into groceries and gasoline since those are constantly in your face each day.

    The price increases are now rivaling those of the late 70s, which took 20% interest to quell. How will the government fund itself when it has to refinance $30T at 20%?

    “Impossible” you say. “Correct” I say.

    The only other options thus are default Argentine style or hyperinflation Germany/Zimbabwe style. What will Sniffer and Powell do?
  • R
    Randy Hundley
    Even though workers are going to be laid off in the face of rising prices, the Fed can’t be dovish. Inflation is not only destroying consumer purchasing power, it is eating into corporate profits. The Fed must stop inflation before we all need wheelbarrows.

    There is a margin problem. Shares of Target (TGT) fell by 25% on Wednesday the 18th as their margins shrank by the same amount. TGT margins collapsed due to higher input costs, overstocking, and overstaffing. 3M margins are also shrinking. Management blames inflation too.

    So much for the mantra that stocks are a great hedge against inflation. In reality, inflation is destroying American corporations, the economy, and the middle class.

    Walmart (WMT) is America's and the world's largest private employer. Its earnings report on Tuesday the 17th had a lot to say about the US economy. The company missed earnings primarily because of inflation and margin pressure. One of the primary drivers for margin compression was that WMT has TOO MANY EMPLOYEES. The reason is clear: after the hoax stimulus checks expired, these furloughed workers found themselves out of savings and in need of money. Hence, they returned to work en masse.

    The key point here is that the world's largest employer is no longer hiring but instead will be letting workers go. There are over 2.7 million people employed by WMT and TGT.

    See where we’re heading now?
  • R
    Randy Hundley
    William Gates proposes creating an “expert” cadre for the World Health Organization to monitor sovereign nations and to decide when they need to suspend people’s civil liberties to enforce health decrees.

    The B administration wants to sign the USA onto an international treaty that gives the WHO unprecedented power over United States’ citizens and our personal health decisions – with dire consequences if you and I disagree.

    Now why would Sniffer want to do such a thing? So much for his oath to support and defend the US Constitution. Looks like he’s working for somebody else.
  • m
    maurice
    This is bad news
  • P
    Paul
    3M just lost the final Bellwether case.
  • R
    Randy Hundley
    Well 3M is down 31% from the beginning of the year. That almost 8 years worth of dividends! Even the persons who bought in last week have lost their dividend.

    Then, both Target and Walmart say they’re selling less consumer products because the consumer is tapped out.

    Didn’t I just tell you guys that Scotch tape wasn’t going to make it to the shopping list.

    3M is a microcosm of the world economy. It is not going to be unscathed from the incoming tidal wave.

    3M to $105 easily in 5.5 months.
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