This morning there have been earnings reports from key industrial and defense stocks from the likes of 3M Co. (NYSE: MMM), Caterpillar Inc. (NYSE: CAT), and Lockheed Martin Corporation (NYSE: LMT). These have all reported earnings that Wall Street appears to be digesting well. None of these numbers are blow-out numbers, but they are also not indicative of the orders at major companies falling off of a cliff into the abyss.
3M Co. (NYSE: MMM) is trading higher this morning after theconglomerate beat earnings expectations. It posted $1.42 non-GAAP and$1.41 actual EPS vs. First Call estimates of $1.38, while revenues were$6.56 billion versus $6.65 billion estimates. The company also guided$5.40 to $5.48 EPS versus estimates of $5.45 EPS. 3M shares are up 4%at $60.00.