Stock Story -
What Happened:Shares of industrial conglomerate 3M (NYSE:MMM) jumped 17.6% in the morning session after the company reported second-quarter earnings results. 3M beat analysts' revenue, operating profit, and EPS expectations. That the company raised full year EPS guidance is also a great sign. Overall, this was a really good quarter that should please shareholders.
Is now the time to buy 3M? Find out by reading the original article on StockStory, it's free.
What is the market telling us:3M's shares are not very volatile than the market average and over the last year have had only 6 moves greater than 5%. But moves this big are very rare even for 3M and that is indicating to us that this news had a significant impact on the market's perception of the business.
3M is up 11.7% since the beginning of the year, and at $122.98 per share, has set a new 52-week high. Investors who bought $1,000 worth of 3M's shares 5 years ago would now be looking at an investment worth $706.12.
![Why Are 3M (MMM) Shares Soaring Today](https://d68-invdn-com.investing.com/content/pic60f1f8fbe95bf40d6709b6238983ab3b.jpeg)