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    Analyst: Strengthening dollar throws off 3M's earning expectations

    By Dan Haugen | Published Wed, Dec 3 2008 10:20 am

    A weak dollar means bargains for foreign customers buying products from the United States. So when the dollar dropped to record lows last fall, the fortunes of multinational companies such as 3M headed in the other direction. Now that the dollar is climbing back, the profit forecasts for those companies are being thrown off course, the Wall Street Journal's Marketbeat blog reports. In fact, the strengthening dollar could throw 3M's earnings expectations off by $1.5 billion, according to a projection today by Citigroup analyst Jeffrey Sprague, who downgraded the company's shares.

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    minnpost.com/businessagenda

    Business Agenda reports on what's going on at businesses in Minnesota. Reported and written by MinnPost's Dan Haugen, Business Agenda provides brief, quick-reading items about important companies in Minnesota and the people who work at those firms. Business Agenda features new items every day Monday through Friday. 

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