The latest quarterly filing from Warren Buffett's Bekshire Hathaway shows what changes the Oracle of Omaha made to his portfolio. What led him to buy into payment processor Fiserv and raise his stake in J&J?
Johnson & Johnson's earnings for the second quarter of 2010 rose 5.4% to $3.4 billion, or $1.23 per share, from $3.2 billion or $1.15 per share, the company announced Tuesday morning. Adjusted earnings, which exclude litigation costs, were $1.21 per share.
Johnson & Johnson subsidiary McNeil recalled another batch of over-the-counter medicines Thursday. The specific lots of Tylenol, Motrin and Benadryl products may have been contaminated with trace amounts of a chemical that gives them a musty or moldy odor.
At Congress' hearings on Johnson & Johnson's huge drug recall, the company's statements were contradicted by the FDA, and details of its Motrin "phantom recall" were revealed.
Ahead of a Congressional hearing over Johnson & Johnson's big drug recall, internal documents were revealed that showed the drugmaker trying to conduct a stealth recall of Motrin in 2008. That's just one of the series of problems discovered at J&J.
Johnson & Johnson shares are rebounding as the drug maker recovers from federal charges it paid kickbacks to a pharmacy company to boost sales of its drugs to nursing-home patients. Meantime, the Food and Drug Administration accused it of being too slow with its product recall during a Tylenol scare.