Johnson & Johnson (NYSE:JNJ) suspended sales guidance for its COVID-19 vaccine on Tuesday, citing global oversupply and demand uncertainties. The pharmaceutical group also cut its full-year sales and profit forecast. Chief financial officer Joe Wolk said that the forecast cuts only reflected the impact of a stronger dollar. Still, J&J stock rose 3% on Tuesday as investors welcomed an earnings beat and a dividend increase.
Johnson & Johnson Cuts 2022 ForecastThe pharmaceutical group had previously said it was aiming for $3 to $3.5 billion in sales in 2022 for its COVID vaccine, which has performed ...
Read The Full Article On StockStreetNews.com
Get early insight on hidden secret gems on StockStreetNews . Follow Crypto, Mining, Cannabis and Energy stocks and get free research reports here .
All content provided by StockStreetNews is subject to our Terms Of Use and Disclaimer .
For further details see:
Johnson & Johnson Shares Rise on Profit Beat