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Markets Watch: Johnson & Johnson (NYSE:JNJ), Orbitz Worldwide, Inc. (NYSE:OWW), Jacobs Engineering Group Inc (NYSE:JEC)

Markets Watch: Johnson & Johnson (NYSE:JNJ), Orbitz Worldwide, Inc. (NYSE:OWW), Jacobs Engineering Group Inc (NYSE:JEC)
Written by
Joel Najarian
Published on
October 14, 2014
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Johnson & Johnson (NYSE:JNJ) has announced Q3 earnings that beat the Street view on EPS and has increased full year guidance, buoyed by an increase in pharmaceutical sales from the same period last year. The company reported Q3 adjusted EPS of $1.50, up from $1.36 in Q3 2013 and beating analyst estimates of $1.45 for the quarter. Total revenue of $18.47 billion was up from $17.57 billion in Q3 2013 and surpassed analyst projections of $18.44 billion.Johnson & Johnson (NYSE:JNJ) increased its earnings guidance for full-year 2014 to $5.92 - $5.97 per share from previous guidance of $5.85 - $5.92 per share. The Street view is $5.92 per share. "Our strong third-quarter performance reflects the continued success of our new products and the strength of our core business," said Alex Gorsky, Chairman and Chief Executive Officer. "We are making deliberate portfolio choices, positioning us well for achieving our near-term priorities and our long-term growth drivers." Worldwide pharmaceutical sales of $8.3 billion for the third quarter represented an increase of 18.1% versus the prior, while worldwide consumer sales of $3.6 billion for the third quarter represented a decrease of 0.6% versus the prior year.Online-travel company Orbitz Worldwide, Inc. (NYSE:OWW) was upgraded Tuesday by analysts at FBR Capital Markets to an outperform investment rating from market perform. The firm set its price target on the stock at $9 a share, which marks a potential upside of 21% from the stock's Monday closing price. Shares of Orbitz Worldwide, Inc. (NYSE:OWW) were up 1.5% to $7.53 in Tuesday's recent pre-market activity, trading within a 52-week spread of $6.40 to $9.96.Jacobs Engineering Group Inc (NYSE:JEC) said Tuesday it will provide project and construction management, handsome design-build work for the $400 million upgrade of multiple facilities at the Rancho Los Amigos National Rehabilitation Center, in Downey, CA, under a contract let by the County of Los Angeles. . JEC, based in nearby Pasadena, will manage work on the 51-acre site, including the renovation of an historic building; a new patient tower addition; two medical office buildings; demolition of multiple structures; and site landscaping. JEC expects to use contractors for make-ready work, but will design-build for the major construction. Jacobs Engineering Group Inc (NYSE:JEC) did not release an estimate of anticipated revenues from the project. The Rancho Center serves 4,000 inpatients and 71,000 outpatients annually.

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