- The company beat on the bottom line, but revenues fell short of estimates thanks a slowdown in pharmaceutical sales.
- Speaking on the earnings call, CFO Dominic Caruso says J&J (JNJ -3.5%) continues to evaluate options for its diabetes unit. He sees pricing pressure and paying pressure for for Xarelto and Invokana, and is happy to see little impact from biosimilar competition on Remicade.
- Weighing in on results, Cowen bull Joshua Jennings says the growth slowdown makes the Actelion acquisition more timely than previously thought. Source: Bloomberg's Tatiana Darie.
- Other players: Merck (NYSE:MRK) (MCK -5.9%), Bristol-Myers (BMY -0.1%), Gilead (GILD -1.5%), Eli Lilly (LLY -1.1%), AbbVie (ABBV -1.7%).
- A rare green name in healthcare is UnitedHealth (UNH +1%) after beating on both lines. Speaking on the earnings call, CEO Stephen Hemsley says Q2 results are likely to be inline with that seen in Q1.
- Other insurers: Aetna (AET -0.8%), Humana (HUM -0.3%), WellCare (WCG -0.4%)
- Also at work is Cardinal Health (NYSE:CAH)'s 11.6% plunge after its weak guidance.
- The Health Care SPDR (XLV -1.4%)
- ETFs: XLV, IYH, VHT, HQH, CURE, FXH, FHLC, RXL, THQ, RYH, RXD, SICK, BTEC, HCRF, JHMH, LNGR
Original article