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Stock Market & Financial Investment News

News Breaks
January 21, 2013
19:26 EDTJNJJ&J's Cordis announces two-year results from STROLL trial
Cordis, a unit of Johnson & Johnson, announced the presentation of the two-year STROLL study results. In the study, the average lesion length was 77 mm, 23.6% of patients presented with total occlusions and 47% of patients were diabetic. Freedom from clinically driven target lesion revascularization at two years was 80.3%. The 24-month primary patency rate for the S.M.A.R.T. Stent was 74.9% by Kaplan Meier estimate. The primary duplex patency rate was 83.5%. There were no major adverse events at 30 days after the initial index procedure, Cordis added. There was also a low rate of stent fractures noted at 12 months with no additional fractures reported out to 24 months, the company said. All stent fractures were Type I, least severe, and there were no incidents of more severe stent fractures. STROLL is a multicenter, non-randomized, single-arm, prospective trial comparing the safety and efficacy of the S.M.A.R.T. Stent with a previously published objective performance goal.
News For JNJ From The Last 14 Days
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July 27, 2015
10:40 EDTJNJLeerink major pharma analyst holds an analyst/industry conference call
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July 23, 2015
17:51 EDTJNJJanssen submits sNDA to update label for Olysio
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July 22, 2015
10:15 EDTJNJThoratec downgraded to Market Perform from Outperform at Northland
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July 14, 2015
16:24 EDTJNJOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street opened in relatively quiet fashion following the market's last three days of gains. With headwinds such as the Greek debt crisis and the Iran nuclear deal out of the way for the time being, investors are able to turn their attention more fully to the earnings season. Reports from JPMorgan (JPM), Wells Fargo (WFC) and Johnson & Johnson (JNJ) were mostly in-line with expectations, if not better than hoped, in several dimensions. The averages began to drift higher, with the Dow surpassing the 18,000 level again and the Nasdaq rising back above 5,100. ECONOMIC EVENTS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. If autos and gas are removed from the data, the core reading slipped 0.2%, versus expectations for it to be up 0.4%. The import price index fell 0.1% last month, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in May, matching the consensus expectation. In Europe, BOE Governor Mark Carney told U.K. officials that “the point at which interest rates may begin to rise is moving closer.” Additionally, Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Shares of Twitter (TWTR) spiked as high as $38.82 late this morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal. Twitter, which has been the frequent subject of takeover speculation, closed up 93c, or 2.6%, at $36.71. The Securities and Exchange Commission will need to add this latest apparent hoax to the list of others it is investigating, including a filing made two months ago by "PTG Capital Partners" purporting to outline its offer to acquire Avon Products (AVP)... JPMorgan (JPM) reported quarterly earnings before the open, beating on both the top and bottom line. Banking peer Wells Fargo (WFC) also reported its results this morning, with earnings in-line with consensus estimates and revenue somewhat below expectations. Shares of both banks rose about 1% following their reports. Dow member Johnson & Johnson (JNJ) slipped about 0.5% to $99.78 despite reporting better than expected earnings, posting revenue that was in-line with expectations and raising its fiscal year adjusted profit forecast. MAJOR MOVERS: Among the notable gainers was Micron (MU), which rose $2.00, or 11.36%, to $19.61 following a Wall Street Journal report last night that claims China's Tsinghua offered to acquire the company for $23B, or $21 per share. Also higher were shares of WPX Energy (WPX), which advanced 71c, or 6.38%, to $11.83 after announcing an agreement to buy RKI Exploration & Production for $2.35B plus the assumption of $400M in debt. Among the noteworthy losers was Vince Holding (VNCE), which fell $2.24, or 18.73%, to $9.72 after announcing last night that its CEO Jill Granoff has resigned. In the wake of that news, William Blair downgraded the stock today to Market Perform from Outperform. Also lower was Spirit Airlines (SAVE), which dropped $4.73, or 7.44%, to $58.81 after cutting both quarterly and yearly guidance last night, which was followed by a downgrade of the stock at Citi this morning. INDEXES: The Dow advanced 75.90, or 0.42%, to 18,053.58, the Nasdaq rose 33.38, or 0.66%, to 5,104.89, and the S&P 500 gained 9.35, or 0.45%, to 2,108.95.
12:28 EDTJNJOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday despite data showing that retail sales unexpectedly fell last month. With a nuclear pact agreed to by Iran and the Greek debt crisis pushed to the back burner for the time being, earnings are set to take center stage, beginning with the reports this morning from two of the country's biggest banks and a bluechip healthcare conglomerate. With stocks working on their fourth consecutive day in positive territory, the Dow has pushed back above the 18,000 level. ECONOMIC EVENTS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus expectations for growth of 0.3%. If autos and gas are removed from the data, the core reading was down 0.2%, versus expectations for it to be up 0.4%. The import price index fell 0.1% last month, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in May, matching the consensus expectation. In Europe, Bank of England Governor Mark Carney told U.K. officials that “the point at which interest rates may begin to rise is moving closer.” Additionally, Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions on the Islamic Republic by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Twitter (TWTR) shares spiked late in the morning after a questionable takeover report appeared on a website that attempted to mimic Bloomberg. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service is a fake, while a Twitter spokesperson also denied the report of an alleged deal in a statement to Reuters... The nation's largest bank, JPMorgan (JPM), earned $1.54 per share in earnings in the second quarter of the year, which was up from the same period of last year and above the $1.44 per share consensus estimate. Peer Wells Fargo (WFC) reported quarterly earnings that were in-line with expectations on a revenue that, like JPMorgan, was a bit below the consensus forecast. Shares of each of the banks rose about 1% near noon following their reports... Dow member Johnson & Johnson (JNJ), however, slipped about 1% after reporting better than expected earnings, revenue that was in-line with expectations and raising its fiscal year adjusted profit forecast. MAJOR MOVERS: Among the notable gainers was Micron (MU), which jumped 11% after The Wall Street Journal reported last night that China's state-owned Tsinghua Unigroup had offered to acquire the memory chip maker for $23B, or $21 per share. Also higher was Matrix Service (MTRX), which gained 18% after the Oil & Gas industry service provider issued guidance for its revenue and earnings in fiscal 2016. Among the noteworthy losers was Vince Holding (VNCE), which sunk 19% after the fashion brand owner announced the resignation of its CEO, which follows the resignation of its CFO less than a month ago. Also lower was Navient (NAVI), which fell 10% after the company lowered its outlook to reflect marketplace conditions for private loan portfolio purchases and its cost of funds. INDEXES: Near midday, the Dow was up 60.30, or 0.34%, to 18,037.98, the Nasdaq was up 34.68, or 0.68%, to 5,106.20, and the S&P 500 was up 8.21, or 0.39%, to 2,107.81.
09:45 EDTJNJJohnson & Johnson says Remicade market share in mid-single digits in Europe
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09:37 EDTJNJJohnson & Johnson says acquisitions a priority, but divestitures still an option
09:33 EDTJNJJohnson & Johnson sees FY15 adjusted EPS $6.70--$6.80 on constant currency
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09:31 EDTJNJJohnson & Johnson backs FY15 reported sales $75B-$76B, consensus $70.56B
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09:30 EDTJNJJohnson & Johnson says consumer business seeing slower volumes in China
The company adds that it will not hesitate to divest businesses or assets that does not meet its profitability criteria. Anticipates at least one major product launch in each of the next three years in Vision Care business. Backs FY15 net interest expense $450M-$550M. Raises FY15 net other income to $2.2B-$2.3B from $2B-$2.1B. Comments taken from Q2 earnings conference call.
07:50 EDTJNJJohnson & Johnson reports Q2 Worldwide Consumer sales $3.5B
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07:49 EDTJNJJohnson & Johnson raises FY15 adjusted EPS to $6.10-$6.20 from $6.04-$6.19
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07:47 EDTJNJJohnson & Johnson reports Q2 Domestic sales down 2.4% to $8.91B
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07:46 EDTJNJJohnson & Johnson reports Q2 adjusted EPS $1.71, consensus $1.67
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July 13, 2015
15:01 EDTJNJNotable companies reporting before tomorrow's open
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15:00 EDTJNJJohnson & Johnson July 100 straddle priced for 1.8% movement into Q2
14:05 EDTJNJEarnings Watch: Johnson & Johnson shares relatively flat since last earnings
Johnson & Johnson (JNJ) is scheduled to report second quarter earnings before the market opens on Tuesday, July 14, with a conference call scheduled for 8:30 am ET. Johnson & Johnson is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. EXPECTATIONS: Analysts are looking for earnings per share of $1.68 on revenue of $17.76B, according to First Call. The consensus range for EPS is $1.54-$1.84 on revenue of $17.52B-$18.16B. LAST QUARTER: On April 14, Johnson & Johnson reported first quarter EPS of $1.56 on revenue of $17.37B. The company's Q1 results exceeded average analyst expectations of $1.54 for EPS and $17.31B for revenue. With its Q1 results, the drug giant lowered its EPS view for the year to $6.04-$6.19 from $6.12-$6.27 due to foreign currency headwinds, while maintaining its sales outlook of $75B-$76B. The company had worldwide consumer sales of $3.4B for the quarter which represented a decline of 4.7% versus the prior year due to a negative impact from foreign currency. Worldwide Pharmaceutical sales of $7.7B for the first quarter represented an increase of 3% versus the prior year with operational growth of 10.2% and a negative impact from currency of 7.2%. The strong operational sales results were driven by new products and the strength of core products. New products including Invokana/Invokamet, Xarelto and Imbruvica. STREET RESEARCH: On April 15, Wells Fargo said Johnson & Johnson's valuation appears attractive. The firm added that the growth outlook of the company's consumer business is improving, while its pharma unit has a growth profile that is well above average. The firm kept an Outperform rating on the stock. On April 20, Deutsche Bank added J&J to its short-term buy list. PRICE ACTION: Since reporting its Q1 results, Johnson & Johnson's stock is down fractionally, and it is currently trading up less than 1% in midday trading ahead of earnings.
13:29 EDTJNJJohnson & Johnson technical notes before earnings
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11:47 EDTJNJFDA approves new drug to treat schizophrenia
The U.S. FDA announced that it has approved Rexulti tablets to treat adults with schizophrenia and as an add-on treatment to an antidepressant medication to treat adults with major depressive disorder. Rexulti is manufactured by Tokyo-based Otsuka Pharmaceutical. Novartis' (NVS) Clozaril is indicated to treat severely ill adult patients with schizophrenia who have not responded appropriately to standard antipsychotic treatment. Other atypical antipsychotics include Otsuka's Abilify, Pfizer's (PFE) Geodon, Janssen's (JNJ) Invega and Risperdal, Forest Labs' (ACT) Saphris, AstraZeneca's (AZN) Seroquel and Eli Lilly's (LLY) Zyprexa.

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