3M Trashed After Issung Lower Guidance

3M Co.

shares are trading lower by $7.63 at $150 in Tuesday's session. After a sharply lower open, it managed a brief rally to $153.02 before resuming is move lower. So far, it has dipped under $150, reaching $149.69, but has not been able to a sustained rebound. If the decline continues, the next identifiable support point comes in at its October 21 low ($148.90). The catalyst for the steep decline is lower guidance for the remainder of FY 2015 and FY 2016.