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Thursday, January 30, 2014

3M revenue growth slows, misses Wall Street target, (NYSE: MMM)

Diversified manufacturer 3M Co reported lower-than-expected quarterly sales on Thursday, hurt by declines in its consumer business and slowing growth in Latin America.Revenue rose 2.5 percent to $7.57 billion in the fourth quarter, below the analysts' average estimate of $7.71 billion.Analysts expressed disappointment in the region that includes Latin America and Canada, where sales growth slowed significantly, and in the decline in revenue in the consumer business, which includes stationery and office supplies.Shares of 3M fell 1.9 percent to $127.77 in morning trading.

3M Company (3M) is a diversified technology company. Shares of MMM fell by 1.97% or $-2.568/share to $127.68. In the past year, the shares have traded as low as $100.07 and as high as $140.43. On average, 2841870 shares of MMM exchange hands on a given day and today's volume is recorded at 375849.