Major Industrial Earnings Surviving, But Not Thriving (MMM, CAT, LMT)

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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.

Caterpillar Inc. (

Jon C. Ogg
October 21, 2008