Wednesday P.M. Report

Wells Fargo Q3 profit beats estimates: Wells Fargo & Co. reports third-quarter net income of $3.15 billion, or 60 cents per diluted share. Before paying dividends, the San Francisco-based bank earned record net income of $3.34 billion, or 60 cents per diluted share, in the latest quarter, up from $3.24 billion, or 56 cents per diluted share, a year ago. Wells Fargo’s results for the latest quarter exceeded analysts’ consensus estimate of 55 cents per diluted share. Read full story

3M completes Attenti acquisition:
3M Co. said today that it has completed its acquisition of Attenti Holdings, an Israeli maker of tracking and monitoring devices. Maplewood-based 3M planned to buy Attendi for $230 million. The company employs about 340 people in Israel, Florida, Illinois and Wisconsin. Read full story

FSI stock drops after Q1 revenue prediction: FSI International stock was down 17 percent today, after the company announced Tuesday first-quarter revenue projections that were less than half of what analysts expected. Fourth-quarter sales also missed the mark. Chaska-based FSI, which makes electronic circuit manufacturing equipment, is predicting revenue of $10 million to $12 million this quarter; analysts polled by Thomson Reuters expected $26.62 million. The company also expects a loss of $3.5 million to $4 million in the first quarter. FSI in its news release cited “timing of requested shipments by several of the company’s major customers.” Read full story

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