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US Markets in the Green on Wednesday

U.S. stocks were in the green on Wednesday, Jan. 22, reversing losses from the day before. The Dow Jones Industrial Average climbed 0.27% to 29,276, the S&P 500 index rose 0.36% to 3,332 and the Nasdaq Composite Index jumped 0.52% to 9,419.

Non-index stocks have also posted gains and losses recently.Shares of Johnson & Johnson (NYSE:JNJ) fell more than 1% on Wednesday after the company announced fourth quarter results. The company posted earnings of $1.88 per share, beating earnings estimates by 1 cent, while revenue of $20.75 billion fell short of estimates by $80 million.




"We delivered strong underlying sales and earnings growth in 2019, driven by the strength of our Pharmaceutical business, accelerating performance in our Medical Devices business and improved profitability in our Consumer business," Alex Gorsky, Chairman and CEO, said.

By segment, the Consumer segments revenue was $3.57 billion versus $3.54 billion in the same trimester of the past year. The Pharmaceutical revenue reached $10.55 billion, higher than $10.19 in the fourth quarter of 2018, Medical Devices reported $6.63 billion lower than $6.67 in the comparable quarter of the previous year and Worldwide?s sales were $20.75 billion versus the previous $20.39 billion.

Looking forward to full year 2020, the company expects adjusted earnings per share between $8.95 and $9.10 on sales of $85.39 billion to $86.2 billion.

During the quarter ended Dec. 31, the Yacktman Fund reduced its holding in the company by 22% to 1,950,000 shares, while T Rowe Price Equity Income Fund (Trades, Portfolio) increased its position by 5% to 3,210,000 shares.

Gainers

o International Business Machines Corp (NYSE:IBM) 3.7%

o Fortinet Inc (NASDAQ:FTNT) 1.8%

o Centene Corp (NYSE:CNC) 1.3%

Western Union Co (NYSE:WU) 0.5%

Losers

o Arconic Inc (NYSE:ARNC) -2.4%

o Devon Energy Corp (NYSE:DVN) -2.0%

o Occidental Petroleum Corp (NYSE:OXY) -2.0%

o Ventas Inc (NYSE:VTR) -2.0%

o Baker Hughes Co (NYSE:BKR) -1.9%

Global markets

Amont the main European stock markets, the U.K.'s FTSE 100 fell 0.31%, France's CAC 40 slid 0.23%, Germany's Dax rose 0.03% and Spain's Ibex 35 slipped 0.34%.

In Asia, Japan's Nikkei 225 jumped 0.70%, India's BSE Sensex retreated 0.50%, Hong Kong's Hang Seng gained 1.27% and China's Shanghai Composite jumped 0.28%.

Disclosure: The author holds no positions in any stocks mentioned.

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