U.S. stock market traded relatively flat in premarket trading on Tuesday, but the Dow Jones Industrial Average rose after the market opened. The S&P 500 and Nasdaq Composite were lower.
Johnson & Johnson (JNJ, Financial) jumped more than 2% on the back of the company reporting its financial results for the third quarter. The company posted earnings per share of $1.90 and diluted EPS of $1.37. The company’s revenue of $19.65 billion increased 10.3% from a year ago. Moreover, the company managed to beat EPS expectations by 10 cents. Revenue also beat estimates by $370 million. Operational sales increased 9.5% and domestic sales increased 9.7%. International sales grew 10.9%, reflecting operational growth of 9.3% and a positive currency impact of 1.6%.
Chairman and CEO Alex Gorsky said the growth in the third quarter was driven by the strong performance of the pharmaceutical business, among other recent acquisitions.
Harley-Davidson Inc. (HOG, Financial) is up after posting EPS of 40 cents and revenue of $962.14 million, which declined from $1.09 billion in the prior-year quarter. The company beat EPS expectations by one cent and revenue estimates by $8.88 million.
For the year, the company expects the operating margin to be down about one percentage point from the previous year. Further, it expects 2017 capital expenditures to be between $200 million and $220 million.
Gainers
- Interpublic Group of Companies Inc. (IPG, Financial)
- Omnicom Group Inc. (OMC)
- UnitedHealth Group Inc. (UNH)
- PG&E Corp. (PCG, Financial)
- Ulta Beauty Inc. (ULTA, Financial)
- Centene Corp. (CNC)
- Harley-Davidson Inc. (HOG, Financial)
Losers
- Coty Inc. (COTY, Financial)
- Freeport-McMoRan Inc. (FCX)
- Seagate Technology PLC (STX)
- Mosaic Co. (MOS, Financial)
- Xylem Inc. (XYL)
- Gap Inc. (GPS, Financial)
- Prologis Inc. (PLD)
Disclosure: The author has no positions in any stocks mentioned.