The Daily Dow
Friday, October 25, 1996
by Robert Sheard (MF DowMan)

LEXINGTON, KY. (October 25): Year to date, 3M has been lagging behind its Foolish Four cohorts, up only 11.74% going into today's session versus the DJIA gain of 17.11%. But after posting better-than-expected earnings today, the stock got a welcomed jump-start. Our hope, of course, is that this is just the start of good things to come for 3M, which is now in its second year in the Foolish Four portfolio, and is currently in place to go for a third year in 1997.

For the third quarter, 3M posted earnings of 95 cents per share versus 81 cents in the year-ago quarter. That was two cents ahead of First Call's numbers, and that's even with a poor currency exchange-rate which, according to the company, sacrificed and additional five cents per share in earnings.

Two attractive factors helped the company improve its earnings, improving sales and continued lower raw materials costs. That's a sweet combination if you can produce your products more cheaply and then sell even more of them.

Healthy productivity gains, new products, a focus on customer satisfaction and continued international expansion fueled world-wide volume growth, said L.D. DeSimone, 3M's chairman and chief executive.

Giulio Agostini, 3M's chief financial officer, told analysts that overseas growth was especially strong in electronics, construction, consumer stationery, visual systems, and automotive businesses. Domestically, its strength was in the industrial and consumer sector, primarily the automotive and electro-communications markets.

Intra-day, 3M shares hit a new 52-week high. A sleeping giant awakes? If all goes according to the Dow Approach plan, don't get in his way when he stands up and begins rumbling ahead.

Transmitted: 10/25/96

      THE FOOLISH FOUR MODEL (10/25/96)  

           Day    Week   Quarter  Year  History
Fool-4    1.03%  -1.23%   4.78%  26.14%  26.14%
DJIA      0.24%  -1.43%   2.12%  17.39%  17.39%
S&P 500  -0.20%  -1.39%   1.98%  13.80%  13.80%
NASDAQ   -0.36%  -1.60%  -0.35%  16.20%  16.20%


Bought  #    Stock     In At   Now   Change

1/2/96  142  DuPont    69.88  94.13  34.70%
1/2/96  380  Chevron   52.38  67.13  28.16%
1/2/96  149  3M        63.76  74.38  16.65%
1/2/96  148  E. Kodak  67.00  76.13  13.62%
7/16/96  14  Imation   26.16  23.00 -12.07%

Bought  #    Stock          Cost       Value     Change

1/2/96  142  DuPont      $9,922.25  $13,365.75  $3,443.50    
1/2/96  380  Chevron    $19,902.50  $25,507.50  $5,605.00    
1/2/96  149  3M          $9,500.09  $11,081.88  $1,581.78    
1/2/96  148  E. Kodak    $9,916.00  $11,266.50  $1,350.50    
7/16/96  14  Imation       $366.21     $322.00    $(44.21)  

      CASH      $1,524.50      
      TOTAL    $63,068.13      





Transmitted: 10/25/96

      
      

      
      

        

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