On this episode of Stock Movers:
- Johnson & Johnson (JNJ) shares rallied today after the company beat Wall Street’s quarterly sales expectations and raised its full-year outlook, a show of confidence as the pharmaceutical industry faces the dual threats of tariffs and a crackdown on drug pricing. J&J’s strong second quarter comes as President Donald Trump floats the idea of levies on the sector. On Tuesday night, he said tariffs on drugs could “probably” come at the end of the month, starting low and working their way up.
- Morgan Stanley (MS) shares fell today. That is despite the fact that the bank's stock traders scored their best second quarter on record. This beat comes as the biggest US banks continue to reap the benefits of market volatility tied to President Donald Trump’s policy moves. The firm earned $3.72 billion in equity-trading revenue, a 23% jump from a year ago and ahead of analyst expectations, according to a statement Wednesday. The firm’s closely-watched wealth management unit reeled in $59.2 billion of net new assets in the period, also surpassing predictions. However, Morgan Stanley’s investment-banking fees fell 5% to $1.54 billion, a smaller drop than analysts expected due to a 42% increase in equity underwriting.
- United Natural Foods Inc. (UNFI) shares jumped after the food distributor provided investors with a much anticipated new guidance view — which appears to be better than feared — after a cybersecurity incident last month. The midpoint of the new adjusted Ebitda forecast of $550 million is above the consensus estimate of $543.4 million (at the time of the press release), with the company noting that its forecasts do not reflect the benefit of anticipated insurance proceeds, which are expected to be “adequate for the incident”.
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