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3M misses in Q1, Hershey posts beat, Venmo tops 40M users

Yahoo Finance

Here are the companies Yahoo Finance is watching today.

A brutal quarter at 3M (MMM). The company fell short on profit and revenue and now plans to layoff some 2,000 workers. The CEO blames slowing economic conditions in key markets and poor execution on their goals.

A very different story at Hershey (HSY). The candy giant posted a surprise beat as sales grew 2%, and they cut expenses. Much of the growth was in North America, and the CEO says it is off to a strong start for the year.

A big quarter for PayPal (PYPL) and its Venmo service. The company says Venmo now has more than 40-million individual users. That's more than many banks. Venmo is seeing sharp growth with total payments topping $21 billion in the first quarter.

Slack may be the next unicorn to enter the public market. The Wall Street Journal says the messaging company may reveal its prospectus as soon as this week. That would put it on track to start trading as quickly as next month. Unlike Lyft and Pinterest, Slack plans to go public as a direct listing.