Medical giant Johnson & Johnson (JNJ) beat analysts’ Q4 profit estimates Tuesday but missed on the topline and offered weak guidance, sending the stock down more than 3% in morning trading. J&J said that its Q4 earnings excluding one-time items rose 2.4% over the year-earlier quarter to $1.27 a share, beating analysts’ consensus by a penny, according to Thomson Reuters. Sales shrank 0.6% to $18.3 billion, missing consensus of $18.6 billion. The
Medical giant Johnson & Johnson (JNJ) beat analysts’ Q4 profit estimates Tuesday but missed on the topline and offered weak guidance, sending the stock down more than 3% in morning trading. J&J said that its Q4 earnings excluding one-time items rose 2.4% over the year-earlier quarter to $1.27 a share, beating analysts’ consensus by a penny, according to Thomson Reuters. Sales shrank 0.6% to $18.3 billion, missing consensus of $18.6 billion. The
Specialty drugmaker Depomed (DEPO) popped nearly 10% to a new high and got an upgrade from Roth Friday after it inked a deal to acquire a new pain drug for $1.05 billion. Late Thursday, Depomed agreed to buy the Nucynta franchise from the Johnson & Johnson (JNJ) Janssen Pharmaceuticals division. The franchise includes a tablet, an extended-release tablet and an oral solution that has yet to be launched. Nucynta had been drawing $166 million a year