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Stock Market & Financial Investment News

News Breaks
April 14, 2014
13:25 EDTJNJEarnings Preview: J&J looking for another strong performance in pharmaceuticals
Johnson & Johnson (JNJ) is scheduled to report first quarter earnings before the market open on Tuesday, April 15, with a conference call scheduled for 8:30 am ET. Johnson & Johnson, together with its subsidiaries, is engaged in the research and development, manufacture, and sale of various products in the health care field worldwide. EXPECTATIONS: Analysts are looking for earnings per share of $1.48 on revenue of $18.0B, according to First Call. The consensus range for EPS is $1.41-$1.55 on revenue of $17.83B-$18.32B. LAST QUARTER: Johnson & Johnson reported fourth quarter EPS of $1.24 against estimates of $1.20 on revenue of $18.4B against estimates of $17.95B. The company gave a fiscal year EPS view of $5.75-$5.85 against a consensus estimate of $5.85. The company noted that the primary contributors to operational sales growth in 2013 include Remicade, Simponi, Stelera, Zytiga, and Prezista. Sales results for the year were negatively impacted by loss of exclusivity for AcipHex/Pariet, a proton pump inhibitor for gastrointestinal disorders and Concerta for the treatment of attention deficit hyperactivity disorder. STREET RESEARCH: On April 14, Jefferies downgraded its rating on Johnson & Johnson to Hold from Buy citing the recent outperformance of shares. The firm kept a $105 price target for the stock. PRICE ACTION: Shares of Johnson & Johnson are up approximately 2% since its last earnings report, and are trading hear flat in afternoon trading.
News For JNJ From The Last 14 Days
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March 2, 2015
12:13 EDTJNJOn The Fly: Midday Wrap
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11:52 EDTJNJJohnson & Johnson EPS dilution from Cordis deal seems modest, says Wells Fargo
Wells Fargo estimates that Johnson & Johnson's (JNJ) planned sale of Cordis to Cardinal Health (CAH) should dilute J&J yearly EPS by about 3c-4c, assuming all is else equal, and the firm expects the company to be able to absorb at least some of this dilution and possibly offset the rest via share repurchases. Wells maintains its Outperform rating on J&J shares.
08:01 EDTJNJCardinal Health offers to buy Cordis from Johnson & Johnson in $1.99B deal
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07:53 EDTJNJCardinal Health to host conference call
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07:35 EDTJNJCardinal Health to buy Cordis from Johnson & Johnson in $1.99B deal
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07:35 EDTJNJCardinal Health to acquire Cordis for $1.94B in cash
Cardinal Health (CAH) announced plans to acquire Johnson & Johnson's (JNJ) Cordis business, a global manufacturer of cardiology and endovascular devices, for $1.94B in cash, or approximately $1.59B, net of the present value of tax benefits. The acquisition is expected to be financed with a combination of $1B in new senior unsecured notes and the remainder with existing cash. The transaction is expected to close in the United States and key non-U.S. countries towards the end of calendar 2015. Assuming this timing, Cardinal Health expects fiscal 2017 accretion in non-GAAP diluted earnings per share from continuing operations of greater than 20c per share, which includes the cost of an incremental 7c-8c per share of interest expense associated with financing the transaction. The company expects the acquisition to be increasingly accretive thereafter and assumes that synergies will exceed $100M annually by the end of fiscal 2018. Cordis had annual sales in 2014 of approximately $780M, split almost evenly between cardiology and endovascular products. Upon completion of that process, Cardinal Health expects to enter into a definitive purchase and sale agreement in respect of the proposed acquisition. The proposed transaction will also be subject to customary closing conditions, including regulatory approvals, and is expected to close in the approximately 20 principal countries towards the end of calendar year 2015 and in the remaining countries on a rolling basis afterward.
February 27, 2015
14:34 EDTJNJPharmacyclics says Imbruvica combination enhances anti-tumor activity
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08:15 EDTJNJJohnson & Johnson would benefit from Pharmacyclics deal, says Wells Fargo
After Bloomberg and The Financial Times reported that Johnson & Johnson (JNJ) and Novartis (NVS) are interested in buying Pharmacyclics (PCYC), Wells Fargo thinks the deal would cause a slight acceleration of Johnson & Johnson's revenue growth. The firm believes that the deal could be slightly dilutive to Johnson & Johnson's EPS in the first full year and 1%-4% accretive thereafter. Wells keeps an Outperform rating on Johnson & Johnson.
February 26, 2015
09:41 EDTJNJHospira launches generic Remicade, WSJ says
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08:03 EDTJNJJohnson & Johnson forms new health and wellness platform
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06:52 EDTJNJPharmacyclics downgraded to Hold from Buy at WallachBeth
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February 25, 2015
14:47 EDTJNJPharmacyclics could fetch as much as $19B in sale, FT says
Pharmacyclics (PCYC) is considering a sale that could fetch as much as $19B, reported Financial Times, citing people familiar with the matter who said Johnson & Johnson (JNJ) is exploring a potential deal for the company. The Fly notes that Bloomberg had a similar report, but its report said Pharmacyclics could fetch $17B-$18B in a sale. Reference Link
14:10 EDTJNJPharmacyclics downgraded to Hold on lack of upside at Deutsche Bank
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12:54 EDTJNJPharmacyclics exploring options including sale, Bloomberg reports
According to sources, Pharmacyclics (PCYC), which develops cancer treatments, is currently exploring options, Bloomberg reports. One option may include a sale of the company, and the sources say Johnson & Johnson (JNJ) and Novartis (NVS) have expressed interest in the company. Pharmacyclics could fetch $17B-$18B in a sale, the sources add. Reference Link
12:53 EDTJNJPharmacyclics weighing sale to U.S. drugmaker, Bloomberg reports
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February 22, 2015
12:51 EDTJNJJ&J considers Cordis sale with Cardinal the leading suitor, Bloomberg says
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February 20, 2015
17:31 EDTJNJJ&J considering sale of Cordis with Cardinal the leading suitor, Bloomberg says
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16:03 EDTJNJOptions Update; February 20, 2015
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09:38 EDTJNJActive equity options trading on open
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07:23 EDTJNJAbbVie replaces Pfizer as top global pharma pick at Jefferies
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