3M Co. forecasts China sales will grow three times faster than the company’s total revenue because of demand for health and consumer products such as face masks and water filters, Chief Executive Officer Inge Thulin said.
3M Co., the maker of Post-it Notes and fuel system tuneup kits, gained in U.S. trading after posting a first-quarter profit that beat analysts’ estimates because of rising domestic auto and industrial demand.
Global corporate earnings growth is poised to accelerate this year as higher spending by U.S. consumers and Europe’s gradual rebound from a two-year recession help offset a slower economic expansion in China.
A U.K. judge upheld a decision that 3M Co., the maker of Post-It Notes, should pay $1.3 million to investors after it decided not to market BacLite, a product that detects hospital super-bug MRSA, the company said.
U.S. stocks advanced, following yesterday’s decline in the Standard & Poor’s 500 Index, amid better-than-estimated earnings at companies from AT&T Inc. to 3M Co. and as data indicated the housing market is stabilizing.