Tuesday, July 14, 2009

J&J in Focus To Report Lower 2Q Earnings

Forex currency market will review data docket to follow risk trends in Europe, with 2Q earnings reports from Johnson & Johnson. Overall, risk sentiment is likely to prevail once again in European forex trading hours. 2Q earnings announcements of Johnson & Johnson are likely to be of particular importance for traders. Indeed, forex markets largely oscillated in overnight trading despite significant gains across Asian stock markets with the upswing in confidence already priced in during US hours.
The company will probably prove particularly downside market-moving.
Today Johnson & Johnson (J&J) health-care corporation is expected to report lower 2Q profit. Tuesday, as a result the recent loss of market exclusivity for its popular Topamax drug and the company slowed sale volume of consumer products. Based in New Jersey J&J corporation, listed in the Dow Jones Industrial Average, is likely to report earnings of $1.11 a share, $0.15 down from the earned in the three months ended June 30, 2008.
According to forecasts quarterly revenue may be flat on a year-over-year basis, at $15 billion

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