3M posts decline in 2nd-quarter profit

Manufacturing conglomerate 3M Co. said Thursday its second-quarter profit fell 17 percent as the global recession cut sales to car makers, but results still beat analyst estimates.

The Dow Jones industrial average component, which makes products ranging from Scotch tape to Post-it Notes, raised its full-year sales and earnings forecasts, and shares rose in Thursday trading, according to a July 23 AP report in Chicago Tribune.