Solventum Corporation (SOLV) has successfully spun off from
3M (MMM) and begun trading on the New York Stock Exchange, making it Minnesota's newest Fortune 500 company. The 3M board of directors approved this spin-off, and the unit was provided tax-free to shareholders in the process. The company's
first quarter 2024 earnings release date is announced and investor events are awaited. Conflicting views are seen regarding the post-spinoff prospects of SOLV, with Wells Fargo starting Solventum stock at
Equal Weight based on growth and debt considerations, while Morgan Stanley has also given an
Equal-weight rating. Adding to the developments, Solventum has appointed
Shirley Edwards to its Board of Directors. Despite these positive moves, SOLV's stock declined on its first day of trading. The company will soon join the S&P 500 Index alongside GE Vernova. While there is high potential in 3M's health division spin-off, the market debut for Solventum was ambiguous.
Solventum Corporation SOLV News Analytics from Wed, 21 Feb 2024 08:00:00 GMT to Tue, 07 May 2024 10:21:27 GMT -
Rating 3
- Innovation 7
- Information 8
- Rumor 4
