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I consider myself incredibly fortunate to have led Johnson & Johnson during a decade-long period that encompassed astonishing advancements in human health. But it’s no coincidence that each one closely reflects the Credo values that have set Johnson & Johnson apart from our earliest days-and I feel great certainty that they are the lodestars for charting both the best course for our company, and the healthiest possible future for humanity.įirst, Science Has Unlimited Potential to Change Lives-But We Must Continue to Prioritize Innovation This hope is rooted in the collective purpose and lived experiences of recent years that have created an unprecedented momentum behind four ideas that I believe will-and indeed, must-propel us onward in creating a better tomorrow.Īt the most fundamental level, these ideas could be characterized as lessons imparted by living and leading through a global pandemic. As I reflect on my last year serving as the CEO of this great company, the world faces uncertainty in so many aspects of our society and global economy-but there is still a great deal of hope for the future. For more on HAL’s earnings, click here.In my time at the helm of Johnson & Johnson, it has been my privilege to write ten letters such as this one to you-our valued partners. Shares are also trading down 2% ahead of the bell. Operating income from Production and Drilling Evaluation were both down notably year over year, on softer oil drilling output.
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Revenues of $5.9 billion in the quarter beat our consensus estimate by 1%. Oilfield services company Halliburton HAL, also rated a Zacks Rank #4 ahead of its Q4 report this morning, beat earnings estimates by 4 cents in posting 41 cents per share. Underwriting numbers were way down year over year, offset somewhat by growth in net written premiums. Zacks Rank #4 (Sell)-rated Travelers Insurance TRV also beat expectations on its top and bottom lines: $2.13 per share was easily above the $1.98 consensus, whereas $7.8 billion on the top line surpassed the $7.7 billion our analysts were looking for. However, guidance of revenues below the previous Zacks estimate for next quarter, along with earnings guidance that puts our consensus at the top of the range, has sent Johnson & Johnson shares down 2% in today’s pre-market. Its earnings of $197 per share topped the Zacks consensus by two cents, while revenues in the quarter reached $20.39 billion, above the estimated $20.1 billion. Johnson & Johnson JNJ, a Zacks Rank #3 (Hold) stock, beat Q4 expectations on both top and bottom lines. After four weeks of relaxed attitudes about trade relations helped buoy up the markets from Christmas Eve lows, it would appear the struggle is far from over - on either side of the Pacific. government shutdown, now in its fifth week, was rather brazenly undertaken but no resolve is apparent, we can see parallels with the U.S.-China trade friction. Not much is very transparent in the country, of course - even the 6.6% figure ought to be taken with a grain of salt (not that we should assume it’s higher or lower, just that it’s not etched in stone) - but the mere fact that China’s leaders appear to be redirecting their efforts economically helps add question marks to the forward-looking terrain. Futures are down ahead of today’s opening bell, on fresh concerns about the slowing Chinese economy, and what President Xi Jinping is planning on doing about the ongoing trade war with the U.S.Ĭhina’s 6.6% annual growth was its lowest in nearly 30 years, and Xi has called a private meeting of party heads to discuss a way forward. After four straight “up” weeks in the markets - following a late-2018 crater in equities that did not begin to turn around until after Christmas - we now see a reckoning of sorts in today’s pre-market.