|Day's range||0.6500 - 0.6500|
Dow component Johnson & Johnson earnings and existing home sales for December will be the focal points for investors Wednesday.
Johnson & Johnson (JNJ) delivered earnings and revenue surprises of 1.08% and -0.21%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Shares of the healthcare giant, which were trading at a record high prior to the results, fell about 1.5% to $147 in premarket trading. J&J's pharmaceuticals unit, which makes up half of the overall sales and produces blockbuster drugs such as Imbruvica and Stelara, has powered much of the company's recent growth even as it works to improve the performance of its medical device and consumer health units. Sales of psoriasis drug Stelara rose 17.7% to $1.70 billion, missing Credit Suisse's estimate of $1.79 billion.
Johnson & Johnson (NYSE:JNJ) raised its guidance for underlying earnings and revenue after a strong fourth quarter on Wednesday but was unable to stop reported earnings slumping due to costs related to opioid- and talc-related lawsuits. The company announced fourth-quarter adjusted earnings of $1.88 a share for the quarter, 1c ahead of forecasts, but reported earnings tumbled by 54% to only 66c. Revenue also fell short of forecasts slightly at $20.75 billion.
Johnson & Johnson (JNJ) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Drug companies are not making progress against the spread of antibiotic resistance at a scale and speed great enough to tackle the global health threat posed by superbugs, a key benchmark analysis found on Tuesday. The findings of a second Antimicrobial Resistance (AMR) Benchmark report showed that while a few pharmaceutical companies are expanding their efforts, change is not happening at the scale needed to radically impact the problem. In India, drug resistance exceeds 70% for many widespread bacteria, the AMR report said.
AstraZeneca's (AZN) label expansion application for Lynparza in a prostate cancer indication gets priority review from the FDA. Imfinzi and pipeline candidate, tremelimumab get orphan drug status for liver cancer.
A Philadelphia judge slashes J&J's (JNJ) punitive damages in a lawsuit, which claims that the company did not warm men that they could grow breasts by using its antipsychotic drug, Risperdal.
If you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share...
J&J's (JNJ) cancer drugs are expected to have contributed significantly to fourth-quarter 2019 earnings. Generic/biosimilar headwinds are expected to have hurt Pharma unit's sales.