Stocks quoted in this article:
Minnesota Mining & Manufacturing (MMM – 84-3/8) is responsible for the creation of Post-It notes, Scotch tape, and other well-known consumer products. The company also has divisions in the health care, transportation, and communications industries. In all, the firm manufactures 50,000 different products. This morning, the company announced the positive news that a Texas jury has found MMM not liable in the latest case against defective breast implants. MMM has logged a 1.5-percent gain shortly after the open.
Technically, MMM has been floundering of late, falling 15 percent in the last three weeks. In late August, MMM encountered short-term resistance just above the 97 mark. The shares are now sitting below all of their significant short-term and long-term moving averages. <