The novel coronavirus helped lift MMM stock but it needs other catalysts

Image source: Banej / CC BY-SA

Story originally published here.

3M (NYSE:MMM) announced first-quarter results April 28 that were better than expected, beating analyst estimates on both the top and bottom line. MMM stock jumped on the news.

“When the virus broke out, we were able to immediately activate our surge capacity and maximize production,” chief executive Mike Roman said on the company’s earnings call. “Beginning in January, 3M doubled our global output of N95 respirators to about 100 million per month, including 35 million per month in the U.S.”

The company also said that it expects to get up to 50 million masks per month by June.

While 3M delivered to shareholders the first bit of good news it’s had in a long time, the company isn’t out of the woods by a long shot. If you think it’s headed back to $250, you might want to holster that excitement.

Here’s why.

3M Pulls 2020 Guidance But Holds Dividend

According to TheStreet, 3M said it was cutting its full-year capital expenditure plans, but will keep its cash dividend in place. It will, however, suspend its share buyback plans and scrap its 2020 profit forecast. 

“Given the breadth and diversity of our businesses, the financial impact of COVID-19 is varying across 3M,” said CEO Mike Roman. “In the first quarter we saw strong growth in personal safety, as well as in other areas of our portfolio experiencing high demand due to the pandemic.”

Read more here.

Amazon Price Prediction

Should investors be looking to buy or sell?
Sign up below for our in-depth review & price prediction on Amazon.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Apple Price Prediction

Should investors be looking to buy or sell?
Sign up below for our in-depth review & price prediction on Apple.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Nvidia Price Prediction

Should investors be looking to buy or sell?
Sign up below for our in-depth review & price prediction on Nvidia.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Write This Stock Ticker Down Right Now

Enter your email address to see the name and ticker on the next page.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

How to Collect "Amazon Royalty" Payouts Before the Deadline

Thanks to a little-known IRS loophole, regular Americans can collect up to $28,544 (or more) in payouts from what is called “Amazon’s secret royalty program”…
Enter your email address to access all the details.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

New "Forever Battery" making gas cars obsolete​

Sign up to get the name of the stock that’s predicted to power every single EV on the planet.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

New EV Set to Disrupt Entire Industry

The Wall Street Journal calls it “an American manufacturing triumph.” – Will this disrupt the entire $1.3 trillion EV boom?


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Tiny TSLA Supplier To Soar

Sign up below for details on Project X and your first FREE report, The #1 EV Stock of 2023 from Market Junkie.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Write This Stock Ticker Down Right Now

Enter your email below to see the stock name and ticker on the next page.


By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

$3.73 EV Stock No One's Talking About

This company is a sneaky EV play that no one’s talking about.

Enter your email address to receive this company’s name and ticker symbol for free.



By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

$30 Stock Freaking Out Billionaires

This stock is an industry leader in a robotics technology that is freaking out billionaires (trading for just $30).

Enter your email address to receive this company’s name and ticker symbol for free.



By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

The Best TaaS Stock Right Now

This company is set to corner the market in a self-driving technology that  could fundamentally change our entire society – much like the internet did.

Enter your email address to receive this company’s name and ticker symbol for free.



By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

Up to 20,000 IPOs All in One Day

A radical $2.1 quadrillion shift is coming to the financial markets.

Some are calling it G.T.E. and Mark Cuban, Elon Musk, Richard Branson, and even banks like J.P. Morgan are invested in the tech behind it.

Just $25 could get you in alongside these billionaires. 

Enter your email address to receive the video that reveals it all.



By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works

53-cent Biotech Stock with $2 Price Target

Steve Cohen, the billionaire stock picker known for running one of the most successful hedge funds ever, has poured millions into the first stock, and it’s trading for only 53 cents.

Enter your email address to receive this company’s name and ticker symbol for free.



By submitting your email address, you give Stock Market Junkie permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. You can unsubscribe at any time. To review our privacy policy, click here: Privacy Policy | How it Works