As the American market session heads into the back half of the trading day, the DJIA’s top performer is 3M Co. (MMM), which has added nearly 4% to trade into $102.60 on Wednesday. 3M continues to rally after the company recently announced that William Brown, the former leader at L3Harris Technologies, would take the helm at 3M as the new CEO. MMM is down steeply from 2017’s all-time highs above $225 per share, and is recovering into $102.77 per share after dipping to $91.25 earlier this year.
Intel Corp. (INTC) and McDonald’s Corp. (MCD) competed for the biggest loser on the Dow Jones on Wednesday. Both stocks were down around 3.5% on the day. Intel, according to reporting by Reuters, has an unfair advantage over its nearest competitor, AMD, with a specially-issued license issued by the US government under former President Donald Trump. Intel has special permission to supply chips to Chinese tech giant Huawei, and that advantage could come under threat as AMD seeks remediation, even as Intel export volumes to China decline following an increased export ban of technology to China.
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