Technical Analysis on 3M and United Technologies: Positive Global Economic Signs Spark Hope

  Technical Analysis on 3M and United Technologies: Positive Global Economic
                               Signs Spark Hope

  PR Newswire

  LONDON, January 28, 2013

LONDON, January 28, 2013 /PRNewswire/ --

In recent quarters, industrial conglomerates such as 3M Co. (NYSE: MMM),
United Technologies Corp. (NYSE: UTX) and General Electric Co. have found the
going tough due to the weak global economic environment. While developed
economies struggled last year, growth in China and India also slowed down.
However, the global economy is starting show signs of improvement and this
should help industrial conglomerates. StockCall has initiated technical
analysis on 3M and United Technologies, and these free reports can be
downloaded at

Industrial Conglomerates Executives expects Improving Global Economy Should

Last week, China reported better-than-expected fourth-quarter GDP data. A
survey released on Thursday, meanwhile, showed that China's manufacturing
index rose to a two-year high in January. Economic data in the U.S. has also
been encouraging, while concerns over the Eurozone debt crisis have also

In a conference call with analysts following the release of quarterly results,
3M Co. CEO Inge G. Thulin said that demand in China is improving from the
sluggish levels seen over the past year. Additionally, David Meline, 3M's CFO,
noted in a conference call with analysts that in Europe, the economies have
stabilized although they are not yet growing. Earlier in the week, United
Technologies CEO Louis Chenevert said that the company closed the year better
than it had anticipated and is seeing broad based improvements in its order
trends. Sign up now to access the free report on United Technologies Corp. at

3M's Profits Rise

Last Thursday, 3M Co. [ Free Report on MMM ] ^(1) released its financial
results for the fourth quarter. The company posted a 3.9% increase in its
fourth quarter profit, driven by strength in healthcare and office supplies,
which more than offset weaker results in some industrial and electronic

The company's sales for the quarter rose 4.2% to $7.4 billion. Organic
local-currency sales rose 4.3% in the quarter. In the Consumer and Office
division, organic local-currency sales growth was 8.7%. Display and Graphics
division registered organic sales growth of 8.3%, while Healthcare registered
sales growth of 5.3%. In terms of region, sales grew 9.7% in Latin
America/Canada, 5.8% in the Asia, and 5.2% in the U.S. Sales fell 1% in
Europe, Middle-East and Africa.

CEO Thulin said that the fourth quarter was a good finish to a successful year
for the company and the company has build good momentum to innovate and move
forward in 2013.

Meanwhile, the company also reaffirmed its guidance for 2013. The company
expects 2013 earnings to be between $6.70 per share and $6.95 per share.
Organic local-currency sales growth in 2013 is expected to be between 2% and

United Technologies' Q4 Profit Beats Estimates

Earlier last week, United Technologies also reported its quarterly results,
posting better-than-expected profit. Excluding discontinued operations, United
Technologies' earnings for the quarter were $1.04 per share. Sales for the
quarter rose an impressive 14% to $16.4 billion, thanks mainly to the
acquisition of Goodrich.

CEO Chenevert said that the company remains confident in its ability to
deliver 2013 earnings per share of $5.85 to $6.15 and continues to expect
sales to be between $64 billion and $65 billion.


1.3M Co. Technical Analysis [ ]

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