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Stock Market & Financial Investment News

News Breaks
February 25, 2013
07:43 EDTMJNMead Johnson says Hong Kong to limit flow of formula products to mainland China
Mead Johnson (MJN) disclosed in a regulatory filing that Hong Kong's government has imposed a regulation designed to limit the flow of formula milk products out of the territory. Effective March 1, to ensure adequate supplies for local infants and young children, the authorities will limit travelers departing Hong Kong to 1.8 kilograms, equivalent to two 32-ounce cans, of formula milk for children up to 36 months of age, according to Mead Johnson. The company said approximately 30% of Mead Johnson sales in the China/Hong Kong market originate in Hong Kong and it is believed that a substantial portion of the products sold in Hong Kong are taken to mainland China by visitors and private resellers. The company said no change is being made to its most recent earnings guidance, at this time. The company added, "It is difficult to quantify the potential net impact, if any, of the restriction on the company’s overall China/Hong Kong business. The Company will carefully monitor retailer orders and consumer purchases across the China/Hong Kong market following the implementation of the new restriction to determine if any reduction in Hong Kong purchases by visitors and resellers may be offset by increased demand in mainland China. The Company will consider actions as necessary to address any changes in market dynamics that may result from the new regulation."
News For MJN From The Last 14 Days
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April 24, 2014
07:04 EDTMJNMead Johnson raises FY14 EPS view to $3.60-$3.72 from $3.50-$3.62
Consensus $3.62. In the first quarter of 2014, MJN adopted mark-to-market accounting for all of its defined benefit pension and other post-employment benefit plans. Of the expected 10c increase in earnings per share, approximately two-thirds is attributed to the New Pension Accounting with the remainder the result of stronger anticipated operational performance. To provide a better view of underlying operational performance, pension MTM actuarial gains or losses will be treated as a Specified Item. The company now anticipates constant dollar sales growth of approximately 8% for the full year 2014, up from 7% in its prior guidance, consensus $4.44B.
07:02 EDTMJNMead Johnson reports Q1 EPS $1.02, consensus 91c
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April 16, 2014
13:54 EDTMJNDanone slips after fresh dairy volume shrinks
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