Top 5 Gainers Today

3. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 51

Shares of 3M Company (NYSE:MMM) rose to a nearly one-month high in the pre-market trading session today. The surge follows the company’s better-than-expected Q2 results and a decision to spin off its healthcare segment. After the spin-off, its healthcare business will operate as a separate publicly listed firm.

For the second quarter, 3M Company (NYSE:MMM) reported adjusted earnings of $2.48 per share on sales of $8.7 billion, surpassing analysts’ average estimate of $2.42 per share and $8.58 billion, respectively.

On the downside, 3M Company (NYSE:MMM) cut its profit outlook for the full year, citing strong U.S. dollar and macroeconomic challenges. It now expects adjusted earnings in the range of $10.30 – $10.80 per share, versus its previous guidance of $10.75 – $11.25 per share.