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10.13.2015 JNJ Tries to Cover Lousy Earnings Bookmark

In what one can only call the most desperate of "in your face" maneuvers, JNJ announced a 10 billion dollar stock buy back AHEAD of their actual earnings report. Why? Simple, they wanted to pad their stock price ahead of yet another disappointing earnings release. See, their revenues fell Year over year. Their pretax income fell some 40% YOY. Their GAAP earnings missed. Last year they posted $1.61. This year 1.49 for the same quarter. 

Notice they didn't spend that ten BILLION on new plants, research or hiring folks. Nah, let's just spend it on keeping our stock price inflated.  This is what passes for normal in the most twisted stock market of any generation. Oh, and there's many more like it to come. 


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