Johnson & Johnson (
kicked off a busy earnings week this morning. But the market is
basically in wait-and-see mode until
reports earnings after the market closes on Wednesday.
longest slump in years
, Apple could use a strong fourth-quarter earnings report to help
get out of its four-month rut. At roughly $500 a share, the
world's largest stock has fallen nearly 30% since late
thinks tomorrow's earnings report could inject some much-needed
life into Apple's shares, and is imploring people to
buy Apple before earnings
"The pathetic stock performance following the latest (iPhone)
release was a fluke,"
Jason wrote last week.
"…(But) this will be the first full quarter of iPhone 5 sales
data. Though the iPhone 5 launched September 21, Apple's fourth
quarter ended on September 30.
"Apple can put investors' fears to rest with big earnings
this quarter. And I think they'll do it."
Apple can only hope that it sees as much earnings as Johnson
& Johnson reported this morning.
JNJ's fourth-quarter earnings of 91 cents per share was more
than 11 times better than its 8-cents-a-share earnings during the
same quarter a year ago. Strong sales growth in the healthcare
company's medical device unit was largely responsible for the
Verizon's fourth quarter wasn't nearly as impressive. Costs
from Hurricane Sandy and charges related to a pension fund
resulted in a $4.23 billion loss for the large cap communications
company. That's more than twice the loss the company suffered in
the same quarter a year ago.
Here are the rest of this week's more noteworthy earnings,
starting with today's after-market reports:
Bristol-Myers Squibb (BMY)