- Johnson & Johnson shares were sold more than 5 % on Tuesday.
- The Texas court prevented the company from allowing its subsidiaries to request bankruptcy.
- This was the third time that JNJ tried to deduce talcia through the bankruptcy court.
- Reuters reports that pharmaceutical companies may get a gradual road towards a 25 % tariff.
Johnson and Johnson (JNJ) The stocks fell to the simple moving average for 200 days (SMA) on Tuesday after the company’s attempt to put its previous business in bankruptcy failed for the third time.
A Texas judge rejected the health care giant’s case to get rid of tens of thousands of lawsuits that claim that children’s powder that depends on Johnson & Johnson caused cancer. This means that the parent company will likely face financial claims separately in the trial, which may end more than 9 billion dollars, which it agreed to pay.
The US stock market recovered in a late trading in the morning on Tuesday, after weighing a short period of time after an open period. Dow Jones (DJIA) gained 0.25 % at the time of writing this report, while the Nasdaq compound increased by 1.00 %.
Johnson and Johnson news stocks
Johnson & Johnson has established a subsidiary company to possess all the assets of the talc called Red River Talc. Then I agreed with 83 % of the owners of the request to obtain bankruptcy and then financing the subsidiary of 9 billion dollars to be divided between the demands. This legal strategy is sometimes called two Texas.
83 % of the “yes” sounds are essential because the law requires 75 % of the demands to approve this type of plan. However, the American bankruptcy judge, Christopher Lopez, concluded that Johnson & Johnson did not give the demands enough time to make a decision on their vote.
The company’s attempt to obtain a bankruptcy River Talc has failed twice in a similar court in New Jersey.
“The decision to litigate each case is an introduction depends on the simple truth that this fake claim created by the lawyers of the greedy prosecutors who are looking for another deep pocket to prosecute and nourish the announcement of lawyers funded by litigation,” said Vice President J & Jorldwide.
In a good sign of the company, Reuters reported that pharmaceutical companies are likely to win a slight insolence from the Trump administration. While the White House is expected to put a 25 % tariff on the import of most foreign goods, the sources tell Reuters that pharmaceutical companies will witness the definitions that are probably increased gradually to 25 % instead of facing a sudden shelf. This will allow pharmaceutical companies to restore the beach of spa and active ingredients to the United States during the next year.
Johnson and Johnson expectations shares
Johnson & Johnson SMA has hacked for 50 days on Tuesday, but it stopped before SMA for 200 days. This gives more than 200 days more important, but also means that the break of this purple line will lead to the sale of heavier.
More support lies in its latest December and January’s lowest levels between $ 140.50 and $ 142.50.
JNJ’s share needs to exceed the previous support level at $ 162.50 to remove itself from the technical downward trend.
JNJ Daily Plan
