These are the stocks making the biggest headlines on Monday, October 21, 2019.
Johnson & Johnson (JNJ)
Johnson & Johnson (JNJ) is seeing a slight recovery this morning. All after plunging nearly $8.50 on Friday following its recall of a single lot of Johnson’s Baby Powder.
The recall was “out of an abundance of caution based on the results of a U.S. FDA test that found “sub-trace levels” of asbestos contamination in a bottle of its baby powder, said the company. However, JNJ cannot confirm if cross-contamination caused a false positive with sample. It cannot confirm if the sample was taken from a bottle with intact seal, nor can it confirm if the sample was prepared in a controlled environment.
BA is still under a good amount of pressure after the company revealed 2016 e-mails that called into question the safety of the 737 Max jet’s flight control system.
The FAA said it found the messages to be “concerning” and “is reviewing this information to determine what action is appropriate.” In addition, FAA Chief Steve Dickson told Boeing’s CEO, “I expect your explanation immediately regarding the content of this document and Boeing’s delay in disclosing the document to its safety regulator,” as quoted by NBC News.
Boeing is down another $9 this morning in pre-market.
Halliburton Co. (HAL)
HAL is slipping after posting a third quarter profit that was in line with expectations. Net income fell to $295 million, or 34 cents a share from $435 million, or 50 cents a year earlier. Revenue fell 10.1% to $5.55 billion, which missed estimates for $5.82 billion.
Analysts at Raymond James just raised their price target on Apple to $280 from $250, and raised its iPhone sales estimates for 2020 and 2021. They also noted that 5G remains the biggest opportunity for Apple at the moment.