3M, Merck, Pepsi
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 28 April 2020
⏱️ 13 minutes
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Summary
3M’s 1st-quarter report gets a boost from the personal safety division. Merck’s 1st-quarter profits rise 10%. Pepsi’s snack division helps offset weakness in 1st-quarter beverage sales. Ron Gross analyzes those stories and discusses dividend protection and the rise in snacking.
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Transcript
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| 0:00.0 | It's Tuesday, April 28th. |
| 0:03.7 | Welcome to Market Foolery. |
| 0:05.0 | I'm Chris Hill with me representing the University of Michigan. |
| 0:10.0 | It's Ron Gross. |
| 0:11.0 | Good to see you. I'm not literally with you but in spirit I'm with you. Yes and you're rocking the Michigan Wolverines hat so |
| 0:21.3 | So any any listeners any of the dozens who are in. |
| 0:25.3 | Go below. |
| 0:26.7 | They're in Ohio, they're not happy now. |
| 0:29.6 | We're going to talk food and beverage, |
| 0:31.0 | we're going to talk pharmaceuticalss but we're going to start with |
| 0:33.9 | Minnesota mining and manufacturing better known as 3M shares its 3M up just a little bit |
| 0:40.8 | first quarter revenue was fueled by strong demand for personal safety products, |
| 0:46.5 | which shouldn't be a surprise because they make those n95 masks. And this is where the diversification of 3M pays off for investors. |
| 0:58.8 | Yeah, you know that for sure that health care segment really strong including the results of an acquisition they made last year |
| 1:06.8 | But the stock has held up relatively well just in general down about 10% maybe for the year. |
| 1:13.0 | So that's kind of where the market is now, |
| 1:14.8 | maybe the market's a bit worse. |
| 1:16.4 | But these results actually beat expectations, |
| 1:18.6 | as you say, in large part due to personal safety, |
| 1:21.2 | but also some home improvement strength as well as |
| 1:23.8 | cleaning supplies which I guess we shouldn't be surprised about those n95 |
| 1:27.6 | masks being the ones that are in the news and they are a significant |
... |
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