PREVIEW: Johnson & Johnson rises ahead of Q2 earnings
** Shares of Johnson & Johnson JNJ.N rise 0.6% to $150.17 on Tues ahead of the release of its second quarter results due before the opening bell on Wed
** Wall Street analysts expect JNJ to report rev of $22.3 bln, which is ~13% down from a year ago, and EPS of $2.70 compared with $2.80 a year ago, according to LSEG data
** JNJ's rev has met or surpassed expectations in 6 of the last 8 quarters, while EPS has beat estimates every time in the same period
** During the quarter, JNJ agreed to buy two privately-held companies: Proteologix for $850 million in cash and Numab Therapeutics for about $1.25 billion
** JNJ also agreed to pay $700 million to settle an investigation by 42 U.S. states and Washington, D.C. into its marketing of baby powder and other talc-based products blamed for allegedly causing cancer
** Among the 25 analysts that cover JNJ, the median PT is $170 and avg rating is "buy", with the breakdown of recommendations as 13 "strong buy" or "buy," 12 "hold" and no "sell" or "strong sell", per LSEG data
** JNJ options imply a 2.4% swing for the shares, in either direction, by Fri; that's higher than the stock's avg move, on the day of results, of 1.9%, over the last eight quarters, according to Trade Alert
** JNJ is down 4.2% YTD compared with 8.2% gain in Dow Industrials .DJI and 9.4% rise in the S&P 500 healthcare index .SPXHC
Reporting by Chibuike Oguh and Saqib Ahmed in New York
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