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Major U.S. indices ended Wednesday in the red as the Federal Reserve raised interest rates by 0.25%, marking the first increase since 2023. The Dow Jones Industrial Average fell 1.2% to 51,461.90, while the S&P
ON Semiconductor, Carlyle and Coeur Mining led decliners in the hour after the Fed chair spoke. Economists split on whether October or December brings another hike.
GE Aerospace gained 1.91% to $312.90, outperforming a declining market. The company is projected to report earnings of $2.01 per share (up 21.08% YoY) with revenue of $12.66 billion (up 11.96% YoY). Full-year estimates call for $7.91 EPS and $50.56 billion revenue. However, GE trades at a premium valuation with a Forward P/E of 38.81 versus the industry average of 24.25, and holds a Zacks Rank of #3 (Hold).
3M Company returned $3.8 billion to shareholders through dividends and buybacks in the first half of 2026, with $1.8 billion remaining under its repurchase authorization. The company expects adjusted operating cash flow of $5.8-$6.0 billion and free cash flow conversion above 100% for 2026, while raising its quarterly dividend by 6.8% in February 2026. Despite trading above industry valuation averages, 3M shares gained 3.6% over the past year compared to a 27.8% industry decline.