3M's shares trend higher as Dow component affirms 2012 profit outlook

NEW YORK (MarketWatch)
3M Corp., technology company, reported on Thursday that fourth-quarter net income rose 2.8% on 5.7% higher sales and it affirmed its outlook for the year
Earnings were $954 million, or $1.35 a share, versus $928 million, or $1.28, in the year-earlier quarter
Shares outstanding fell 2.8% to 707.5 million
Sales reached $7.09 billion from $6.71 billion
A survey of analysts by FactSet Research produced a consensus estimates of $1.31 a share of profit on $7.09 billion of revenue
For the year, 3M estimated earnings would range $6.25 to $6.50 a share
That compares with the FactSet estimate of $6.33 a share