Link: <a href="http://, beat analysts’ muted”>, beat analysts’ muted

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>From an AP story on the Johnson & Johnson third-quarter results:

J&J, based in New Brunswick, New Jersey
, beat analysts’ muted
profit expectations for the quarter, but Wall Street
was
unimpressed. J&J shares slipped 33 cents to $95.66 in midday trading
Tuesday.

“International growth — the hoped-for growth driver — was anemic even after
adjusting for currency swings, and the domestic market is dead in the
water,” wrote analyst Erik Gordon, a professor at the University of
Michigan’s Ross School of Business.

The U.S. consumer health business, nearly recovered after a long and
embarrassing spate of recalls dating to 2009, was the lone bright spot,
with a 9 percent sales increase, but it accounts for just 7.5 percent of
sales.

“Domestic consumer sales of Tylenol and other brands that had suffered
being off shelves for so long after the manufacturing problems are
rebounding. The brand names still are strong,” Gordon noted.

San Fransisco Chronicle:

http://www.sfchronicle.com/business/article/Johnson-Johnson-beats-3Q-profit-forecasts-6567968.php

NBC News:

http://abcnews.go.com/Business/wireStory/johnson-johnson-beats-3q-profit-forecasts-34438888

abc News:

http://abcnews.go.com/Business/wireStory/johnson-johnson-beats-3q-profit-forecasts-34438888

_____________________
Erik Gordon
Ross School of Business
University of Michigan
Ann Arbor, Michigan