Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. The Dow Jones Industrial Average ( ^DJI) is trading up 38 points (+0.3%) at 13,613 as of Friday, Oct 5, 2012, 1:35 p.m. ET. During this time, 362.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 579.1 million. The NYSE advances/declines ratio sits at 1,997 issues advancing vs. 944 declining with 132 unchanged.
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The Dow component leading the way higher looks to be 3M (NYSE: MMM), which is sporting a 35-cent gain (+0.4%) bringing the stock to $94.78. This single gain is lifting the Dow Jones Industrial Average by 2.65 points or roughly accounting for 7% of the Dow's overall gain. Volume for 3M currently sits at two million shares traded vs. an average daily trading volume of 2.9 million shares. 3M has a market cap of $64.83 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 14.7% year to date as of Thursday's close. The stock's dividend yield sits at 2.5%. 3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 15.3, equal to the average conglomerates industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins, growth in earnings per share and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow.