The bluest of blue chip stocks, health care conglomerate Johnson & Johnson (NYSE: JNJ), reported strong second quarter results and yet shares tumbled almost 2%.
Operationally J&J couldn't have been stronger; growing its topline 9% to 19.5 billion, and excluding one-time items, embarrassing Wall St earnings estimates at $1.66 per share, 11 cents better than expected. The pharma division continues its streak of monster growth, clocking in 21% gains, while its Medical Devices and Consumer segments chipped in strong international performances.
However, despite its recent success, J&J's full year guidance may be the culprit for its troubles on the market today.
In this special edition of Market Checkup, health care analysts David Williamson and Michael Douglass focus exclusively on J&J's second quarter results. Watch and find out everything worth knowing about the stock and how investors should react to its earnings.