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News Summary: 3M cuts full-year outlook

The Associated Press
Tuesday, 23 Oct 2012 | 10:10 AM ET

SLUGGISH ECONOMY: 3M cut its profit projections for this year because of weak economic growth, including in China and Europe. Revenue for the year will be roughly flat.

3Q RESULTS: Matched analyst expectations. 3M said it will lay out 2013 expectations in December.

WHY IT MATTERS: 3M makes everything from Post-it notes and Scotch tape to roofing granules, coatings for LCD screens, and traffic sign coatings. The variety of its businesses and its worldwide footprint make it an economic bellwether.

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