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3M, Pfizer See Recovery in Sight With Pandemic Impact Near Peak

  • Bellwethers say second quarter to be worst for economy
  • Caterpillar remains cautious as uncertainty grips markets
Bloomberg business news
3M CEO Says Virus Uncertainty 'Too Great' to Maintain Forecast
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The coronavirus outbreak blindsided the world as it sent economies into a nosedive. Now, the bottom is starting to come into focus for several of the largest companies in the U.S.

Manufacturer 3M Co. and drugmaker Merck & Co. see the pandemic impact peaking this quarter, paving the way for some semblance of a rebound later in the year. As Pfizer Inc. Chief Financial Officer Frank D’Amelio put it on a conference call Tuesday, “Punch line: second-half recovery.”