Before the open on Tuesday, Johnson & Johnson (JNJ) reported Q2 earningsthat weren't very impressive. The stock though jumped 2% on the news sending the stock only a couple of bucks off the all-time highs. The question, though, is whether the quarterly numbers were all that impressive for a rather expensive stock already. Has the market become so complacent that any results outside of a major warning will be bought?
JNJ provided the following infographic on the Q2 earnings. As one can quickly see, the growth is meager. Revenue growth is nearly nonexistent, while diluted EPS only grew 5% in part due the share reductions that reduced the share count by 2%.
