J&J Coming Up Short, Sort Of (JNJ)

Posted in pre-market 
October 13th, 2009

Johnson & Johnson (NYSE: JNJ) is trading down 2.5% at $60.95 on over 700,000 shares as of 9:08 AM EST. Despite $1.20 EPS vs. $1.13 estimates, revenues were $15.1 billion versus estimates of over $15.2+ billion.  The dollar was believed to be a help but was not and the company’s ‘raised guidance’ looks effectively in-line. In short, earnings season is looking as though a “light revenues and beating earnings because of cost cuts” is not going to be good enough.
UPDATE at 9:18 AM EST: Shares are down 2.46% at $60.99 on almost 900,000 shares; average volume is about 10.2 million shares.

JON C. OGG
OCTOBER 13, 2009

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