Johnson & Johnson, Lockheed Martin Corporation Rise After Upping Guide

Johnson & Johnson and Lockheed Martin released their latest quarterly earnings reports before opening bell this morning. Johnson & Johnson posted adjusted earnings of $1.74 per share on revenue of $18.48 billion. Analysts had been expecting adjusted earnings of $1.68 per share on $17.98 billion.  In last year’s second quarter, the company posted adjusted earnings of $1.71 per share on $17.8 billion in revenue.

Lockheed Martin reported earnings of $3.32 per share and revenue of $12.9 billion, compared to Wall Street’s estimates of $2.94 per share and $12.6 billion. In last year’s second quarter, the defense contractor posted earnings of $2.94 per share on $11.6 billion in revenue.

Morningstar Investment Conference: Using Annuities In A Portfolio For Added Stability

portfolioOver the past decade, annuities have fallen out of favor with investors. These retirement products became popular in the US during the Great Depression when potential retirees were looking for a secure income stream that would be unaffected by stock market volatility. Q2 2020 hedge fund letters, conferences and more If you’re looking for value Read More


Johnson & Johnson shares rise after outlook raised

Johnson & Johnson’s GAAP earnings fell to $1.43 per share from $1.61 per share last year. Worldwide Consumer sales declined 1.8% year over year to $3.4 billion, while Worldwide Pharmaceutical sales increased 8.9% to $8.7 billion. Worldwide Medical Devices sales increased 0.8% to $6.4 billion.

Johnson & Johnson increased its full-year earnings outlook from between $6.43 to $6.58 per share to a range of $6.63 to $6.73 per share. The company also increased its full-year revenue guide from between $70.8 billion and $71.5 billion to between $71.5 billion and $72.2 billion.

Shares of Johnson & Johnson rose by as much as 2.78% to $126.56 in premarket trading this morning.

Lockheed Martin also raises guidance

Lockheed Martin’s Aeronautics sales rose from $4.1 billion last year to $4.4 billion this year, while sales in its Information Systems & Global Solutions business declined to $1.3 billion. Revenue from the Missiles and Fire Control segment edged higher to $1.7 billion, while Mission Systems and Training revenue climbed to $3.3 billion. Space Systems revenue edged lower to $2.2 billion.

Lockheed Martin raised its full-year earnings guide to between $12.15 and $12.45 per share from the previous range of $11.50 to $11.80 per share. The defense contractor also raised its full-year revenue outlook to between $50 billion and $51.5 billion from the previous range of $49.6 billion to $51.1 billion. The consensus estimates for the full year are $11.84 per share and $50.46 billion.

Shares of Lockheed Martin rose by as much as 1.83% to $260.99 in premarket trading this morning.