Shares of 3M Co. (MMM) gained 0.4% in afternoon trading, and were the biggest gainer of the only two Dow Jones Industrial Average components gaining ground, amid a broad-market selloff after the consumer, health care and industrial products company announced a positive outcome in its patent infringement case against in China. The company said the Intermediate People's Court of Zhengzhou has ordered Qingdao Sisa Abrasives Co. Ltd. to immediately stop making and selling its infringing abrasive grain in China as it infringes 3M's patents in China. The court also directed Qingdao Sisa to compensate 3M for its economic losses and expenses, but the amount of compensation was not disclosed. The other Dow gainer was Nike Inc.'s stock (NKE), which rose 0.2%. The other 28 Dow stocks were down between 0.4% and 4.8%. Meanwhile, the Dow tumbled 513 points, or 1.6%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 25, 2021 13:17 ET (18:17 GMT)
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