Top 5 Losers Today

1. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 54

Shares of 3M Company (NYSE:MMM) turned red in the pre-market trading session on Tuesday. The drop came after the industrial products maker delivered mixed results for the third quarter and cut its outlook for the full year.

3M Company (NYSE:MMM) earned $2.69 per share on an adjusted basis, up from $2.58 per share in the year-ago period. On the downside, revenue for the quarter slipped 4 percent versus last year to $8.6 billion. Analysts were looking for earnings of $2.60 per share on revenue of $8.70 billion.

For the full year, 3M Company (NYSE:MMM) now expects adjusted earnings in the range of $10.10 – $10.35 per share, down from its previous guidance between $10.30 – $10.80 per share. Revenue for the same period is expected to drop in the range of 3.5 – 3 percent, compared to its earlier guidance calling for a decline of 2.5 – 0.5 percent.

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