Shares of 3M Company (MMM) rose nearly 5% on Monday after the Wall Street Journal reported the company was close to a settlement on claims from hundreds of thousands of veterans over faulty earplugs.
3M would pay $5.5 billion in the settlement, according the Journal.
Citi managing director Andrew Kaplowitz believes the $5.5 billion number is lower than the range of $5 billion-$10 billion that investors had been expecting and could be a catalyst for the stock.
Source: Yahoo Finance:
