The market needed Johnson & Johnson (JNJ) to come though with big numbers to show that the consumer goods and medical devices markets, which to a large extent depend on consumer healthcare, were OK.
JNJ delivered better than expected.
Johnson & Johnson announced sales of $15.9 billion for the third quarter of 2008, an increase of 6.4% as compared to the third quarter of 2007.
Net earnings and diluted earnings per share for the third quarter of 2008 were $3.3 billion and $1.17, respectively, up over 10%.
Douglas A. McIntyre.