3M Company (MMM) shares fell sharply on Tuesday, dropping 7.47 percent, or $12.53, after the company reported lower fourth-quarter earnings compared with last year.
The stock was trading at $155.27 after opening at $159.45, versus a previous close of $167.80 on the New York Stock Exchange. Shares moved between $153.10 and $163.73 during the session. The bid was around $155.00 and the ask near $155.18.
For the fourth quarter, 3M reported net income of $577 million, or $1.07 per share, down from $728 million, or $1.33 per share, a year earlier. On an adjusted basis, earnings totaled $987 million, or $1.83 per share. Revenue rose 2.0 percent year over year to $6.133 billion from $6.01 billion.
Trading volume reached about 5.07 million shares, well above the average volume of 2.94 million. 3M's 52-week range stands at $121.98 to $174.69.
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