Johnson & Johnson shares shed 0.40% to $168.20 Wednesday. This proved to be an all-around rough trading session for the Stock market, with the S&P 500 Index SPX falling 2.14% to 4,063.04 and Dow Jones Industrial Average DJIA falling 1.99% to 33,587.66. This was the stock’s second consecutive day of losses.
Johnson & Johnson closed $5.45 below its 52-week high of $173.65 which the company reached on January 26th. The stock underperformed when compared to some of its competitors Wednesday, as Roche Holding AG Part. Cert. RHHVF rose 0.84% to $334.80, Merck & Co. Inc. MRK rose 0.70% to $78.00, and Pfizer Inc. PFE rose 0.86% to $39.69. Trading volume (6.7 M) remained 846,128 below its 50-day average volume of 7.6 M.
The company raised its earnings and revenue guidance for the year. The New Jersey-based company expects a full-year profit of $9.42 to $9.57 per share, compared with its previous forecast of $9.40 to $9.60 per share. It expects revenue between $90.6 billion and $91.6 billion, compared with its prior forecast of $90.5 billion to $91.7 billion.
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