Johnson & Johnson (JNJ) Beats

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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.