Tuesday, July 14, 2009

JNJ Question of Adequate Earnings Release

Johnson & Johnson (JNJ) announced results which included drastically reducing revenues in almost every category and almost every region. EPS substantially the same. The press release gave lip service to macro global numbers. But quite frankly JNJ gave no qualitative commentary in the press release. I imagine they are saving the good stuff for their conference call. This creates a two tier disclosure system. Conference call material needs to be dissected. Conference call transcripts do not come out immediately. Not everyone can listen to a live conference call. This is not a level playing field.