3M stock was falling Monday after the company said that inflation was running hotter than it had expected.

Speaking at a Morgan Stanley conference, 3M CFO Monish Patolawala upped the cost impact on earnings from a range of 50 to 100 basis points to a range of 100 to 150 basis points, citing the rising price of raw materials, labor, and logistics.”[Despite] taking price up, getting the positive, we are seeing inflation outstrip price,” Patolawala said.

The…

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