3M (MMM) bottomed out the Dow Thursday after quarterly sales fell nearly 6% and came in short of estimates. The stationery company suffered weakness in Western Europe and China. The Dow Jones Industrial Average turned negative for the year, dragged on by a series of poor earnings reports from some of its biggest components including Caterpillar (CAT) and AmEx (AXP). United Rentals (URI) was the worst performer on the S&P 500 after slashing its full-year guidance. The leasing company expects to generate sales as high as $5.9 billion, under analysts' estimates of at least $6 billion. SanDisk (SNDK) topped the S&P 500 after reporting net income nearly double expectations. The bottom-line beat was enough for investors to overlook a 24% dive in sales.
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