
Johnson & Johnson Details Launch Plans Regarding Kenvue IPO Roadshow
Pharmaceutical powerhouse J&J expects to price its Kenvue IPO shares at $20 to $23 for a potential $40 billion company valuation.
Pharmaceutical powerhouse J&J expects to price its Kenvue IPO shares at $20 to $23 for a potential $40 billion company valuation.
Johnson & Johnson saw a better-than-expected in the third quarter according to its Q3 2022 report. However, JNJ may cut jobs soon.
The Dow saw a pullback of more than 200 points pullback during late-day trading as Apple plans to slow hiring and growth spending in 2023.
As the global health crisis persists, vaccine makers are looking forward to huge revenues this year.
The proposed split of the company’s business units has been listed as an avenue to drive effective resource allocations and management across the board.
The move by the major American stock market indices including the S&P 500 to hit their new ATHs may be fast-tracked by increased earnings reports from the companies that are going to unveil their results for the previous quarter.
The boost from the COVID vaccine sales, among other factors, has pushed Johnson & Johnson to increase its full-year earnings guidance.
The markets remained pumped up ahead of the Fed meeting on Thursday, where the central bank will discuss any stimulus tapering measures.
Dow Jones recovers all losses from Monday with two-day consecutive rallies. Interestingly, the bond market is also fuelling optimism on Wall Street.
During the first three months of 2021, Johnson & Johnson reported revenue of $22.32 billion versus $21.98 billion expected by analysts.
While the announcement negatively impacted JNJ shares, the overall outlook in tech stocks was bullish.
The US stock market is perhaps responding to a 1.41% drop in the 10-Year Treasury rate, a major focus point for equity investors.
The vaccine developed by Johnson & Johnson has varying efficacies as shown by FDA documents. In the United States, efficiency is at 72%, 66% in Latin America, and about 64% in South Africa.
J&J stock is set to significantly benefit if the United States FDA approves the company’s coronavirus vaccine for emergency use.
At press time, AstraZeneca stock is at $50 in the pre-market trading, which shows a 0.54% increase over its previous close of $49.73.