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HomeTrading News3M Stock Is Soaring. Thank Johnson & Johnson.

3M Stock Is Soaring. Thank Johnson & Johnson.

3M stock is jumping Friday. The primary reason isn’t the broad market rally, although that helps. The best explanation for 3M’s rise comes from an odd source for an industrial conglomerate. Johnson & Johnson did it.

3M (ticker: 3M) stock is up about 4.6% in late trading Friday. Shares of J&J (ticker: JNJ) are up, too, by 5.1%. Both moves are better than the 2.1% and 2.4% respective gains of the S&P 500 and Dow Jones Industrial Average.

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