3M has slowly, methodically been cut in half over that time period. The company generated $1.7 billion in adjusted free cash flow in the fourth quarter. They are pulling back on inventory levels and decreasing their manufacturing proactively for the next few quarters. There could be just a shift in the business over time where they move their puzzle pieces around.
How long will macroeconomic pressures persist in 2023?
(0:21) Asit Sharma discusses: - Johnson & Johnson's 4th-quarter profits falling 25% - Why he likes the company's balance of pharma and medtech - 3M's challenges and why an increase in consumer-facing solutions may be a better route
(10:40) Alison Southwick and Robert Brokamp answer your questions about saving for retirement, bonds, and more.
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Stocks discussed: JNJ, MMM, BND
Host: Chris Hill Guest: Asit Sharma, Alison Southwick, Robert Brokamp Producer: Ricky Mulvey Engineer: Rick Engdahl
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