Diversified manufacturer 3M (NYSE: MMM) easily topped Wall Street's quarterly expectations and raised the lower end of its full-year guidance.

Investors are rallying into the shares, sending 3M up 17% as of 11:15 a.m. ET.

3M has required patience from investors, losing nearly half of its value over the past five years as it dealt with a series of liability lawsuits and reworked its business. But 3M appears to be making progress putting the litigation behind it and recently completed the spinoff of its healthcare business. Its first quarter under new CEO Bill Brown came in much better than expected.

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Source Fool.com