3M shares soar as strong results highlight cost cuts, growth push

3M’s (MMM.N), opens new tab shares soared to a near two-year high on Friday following the industrial conglomerate’s quarterly results that underscored its focus on investing in high-growth businesses and reigniting the company’s storied history of product innovation.

3M’s shares, which rose as much as 20%, were on track for their best day ever after the company also raised its full-year profit forecast, benefiting from a spate of cost cuts.

Source: REUTER