Within the last 30 minutes, Johnson & Johnson (JNJ) and Boston Scientific (BSX) have joined the ranks of several other notable names beating analysts' expectations and improving sentiment following recent market weakness.
They missed on revenues but thanks to that GDT cash infusion they beat earnings.
Its all how they spin it. Funny how yesterday oil was it, now 24 hours later, it means nothing. Kind of like in the airlines. They would go down .50 when oil went up a dollar, but they would go up $2 when oil went down 50 cents. Its all going to catch up. Earnings are good, but I still harp on inflation, which the talking heads say is tame. I went long klac today for a quick trade, but still believe in shorting the dow. Todays pop is just to show whos still in charge, but that won't last
Good example is the Merril L report. Net way down on a charge, but revenues up. Funny how these charges are always ignored as the stock goes up. The old nvls trick. One time charge for 12 straight qrts, and it never effects the stock, but now it looks like it has caught up, as it is, and will be, the weakest of the equip. companies.