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Here's Why 3M Stock Soared by 25% in July

TheMotleyFool

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Shares in industrial giant 3M (NYSE: MMM) rose by a startling 24.8% in July, according to data from S&P Global Market Intelligence. This is a remarkable move, because it nearly all occurred on the day of the company's second-quarter earnings release.

The second-quarter results were better than expected, and management upgraded its full-year margin growth guidance, leading to an increase in the low end of its full-year earnings-per-share guidance from $6.80-$7.30 to a new range of $7.00-$7.30.

Still, the real cause of the move likely lies in a well-received presentation from its new CEO, William Brown, on the earnings call.

Source Fool.com

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