The drop today in Johnson and Johnson stock continues today which works well with the ongoing trade I have in JNJ Stock.
With earnings yesterday topping analysts estimates and its profit outlook raised for a second time this year, the stock is dipping on a number of downgrades following earnings release. Meanwhile Johnson and Johnson Stock reported revenue of $19.5 billion a jump from $17.88 billion last year which beat analysts expectations of $18.85 billion. This is a 9.1 percent jump in revenue.
Earnings increased to $4.33 billion from $3.83 billion for the same period last year. Meanwhile Morgan Stanley, among other analysts, changed their outlook for JNJ Stock to “Equal-Weight” on the belief that JNJ’s new hepatitis product Olysio, will not provide the sales boost most analysts are expecting. Instead Morgan Stanley analysts believe Gilead Sciences (GILD) will continue to dominate the hepatitis share of market sales.
Their outlook then disagrees with the revised profit outlook JNJ Board of Directors released today.
This is the second trade in two days in JNJ Stock.
Johnson and Johnson Stock Trade Alert for July 16 2014
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