Last night when Facebook (FB) and Microsoft (MSFT) posted results, it was a forgone conclusion their results, and pop in share prices, would dominate the conversation today.  Yet, it’s the 117-year-old 3M (MMM) that’s making the most noise.  While its direct rivals like Honeywell (HON), Dover (DOV) and Danaher (DHR) have posted solid results, several Industrial names are getting hit.

• MMM monster earnings miss, lower guidance and laying off 2,000
• UPS profits -$1.1 billion or 17% blames “extreme weather”
• RTN beat on top and bottom but lukewarm guidance
• MAS earnings $0.44 missed by $0.03
• ROK missed top and bottom lines and lowered guidance
• ITW earnings in line and revenue missed

The Dow Jones Industrial Average did find buyers when it hit 26,310.  Technically, it would be a positive sign for the index to close above 26,412.  One reason for the bounce in the Dow is Bernstein is out with positive comments on the FAA’s review of the fix for Boeing’s 737 Max.

After the close, Amazon (AMZN) reports its quarterly results, and investors are telegraphing they think the stock will beat. There is momentum over the last couple of weeks, and the stock is up more than 300 points since February 8^th.   Moreover, the stock got hammered the last two time it’s posted its results.  We are holding our position into the number.