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<p class="has-drop-cap">In today’s stock market news, three major companies – 3M (NYSE: MMM), Chubb (NYSE: CB), and Walmart (NYSE: WMT) – are making headlines. These companies have experienced notable changes in their stock prices, driven by factors such as analyst upgrades, high-profile investments, and impressive quarterly earnings reports.</p>
<h3 id="3m-stock-surges-on-positive-developments">3M Stock Surges on Positive Developments</h3>
<p>3M (MMM) stock has seen a surge in value, currently trading at $104.14, up $2.86 (2.86%) from the previous close. This increase comes from a <a href="https://www.streetinsider.com/Upgrades/Vertical+Research+Partners+Upgrades+3M+%28MMM%29+to+Buy/23237217.html" target="_blank" aria-label="positive analyst upgrade (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">positive analyst upgrade</a> from Vertical Research Partners, who moved their rating from “Hold” to “Buy” based on a favorable risk/reward outlook. <br><br>Additionally, under the leadership of new CEO Bill Brown, who took the helm on May 1, 2024, 3M has undergone significant corporate restructuring, including the spinoff of its healthcare business into a new company called Solventum. <br><br>The company has also settled major lawsuits, agreeing to pay approximately $18 billion over several years to resolve liabilities from water pollution and military earplug issues. Despite struggles in recent quarters, 3M reported a 0.8% year-over-year growth in first-quarter sales, marking its first positive growth in five quarters.</p>
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<h3 id="warren-buffett-s-berkshire-hathaway-invests-in-chubb">Warren Buffett’s Berkshire Hathaway Invests in Chubb</h3>
<p>Chubb stock is making waves following the news that Warren Buffett’s <a href="https://tokenist.com/berkshire-hathaway-reduces-apple-stake-holds-on-to-cash/" rel="noopener noreferrer nofollow" class="deco-link">Berkshire Hathaway</a> (NYSE: BRK.B) has acquired about 26 million shares worth approximately <a aria-label="$6.7 billion (opens in a new tab)" href="https://www.foxbusiness.com/markets/buffetts-berkshire-reveals-over-6b-investment-chubb-sending-shares-higher" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">$6.7 billion</a>. <br><br>This significant investment, revealed in a regulatory filing, caused Chubb’s stock to surge above its official buy point, jumping 5.9% and showcasing strong market confidence bolstered by Buffett’s move. The investment is seen as a return to Buffett’s roots in the <a href="https://tokenist.com/humana-stock-drops-over-5-as-firm-pulls-guidance/" rel="noopener noreferrer nofollow" class="deco-link">insurance industry</a>, an area where Berkshire Hathaway has historically found substantial success. <br><br>Currently, Chubb’s stock is trading at $263.08, up $10.11 (3.99%) from the previous close, with a market cap of $106.824 billion.</p>
<h3 id="walmart-posts-strong-q1-results">Walmart Posts Strong Q1 Results</h3>
<p>Walmart stock is also experiencing a significant increase. It is currently trading at $63.75, up $3.92 (6.55%) from the previous close. The company has a market cap of $513.812 billion. <br><br>This surge comes after the company reported <a href="https://tokenist.com/walmart-nyse-wmt-reports-6-0-revenue-growth-in-q1-tops-forecasts/" rel="noopener noreferrer nofollow" class="deco-link">impressive first-quarter results</a>. Revenue grew by 6.0% to $161.5 billion, exceeding market expectations. Walmart’s adjusted operating income rose by 13.7% due to higher gross margins and increased membership income. <br><br>The company’s eCommerce revenue also saw a substantial 21% growth, largely driven by its store-fulfilled pickup and delivery services and its thriving advertising business. Additionally, Walmart reported a 2.7% global inventory decrease, indicating effective management practices.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you think the stock market is heading for a soft landing in 2024? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-walmart-chubb-and-3m/">Stocks to Watch Today: Walmart, Chubb, and 3M</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: Walmart, Chubb, and 3M

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