J&J Profit Beats Forecast, Shares Jump

JOHNSON AND JOHNSON, CONSUMER, PERSONAL AND HOUSEHOLD GOODS, EARNINGS Johnson & Johnson, fueled by strong sales of consumer products and medical devices, reported third-quarter earnings that beat Wall Street expectations and lifted its shares more than 5 percent. But sales of J&J prescription drugs rose only slightly in the period, following new generic competition for its Risperdal schizophrenia drug. "The broad message today is that J&J's image as a safe place for investors is now even more tangible, with good predictability amid ongoing worries about the economic climate," said Les Funtleyder, an analyst with Miller Tabak. The diversified health-care company said Tuesday it earned $3.31 billion, or $1.17 per share in the quarter. That compared with $2.55 billion, or 88 cents per share, in the year-earlier period, when the... [read full story]