J&J STOCKS RISE AFTER NEW JERSEY JURY FINDS COMPANY NOT LIABLE IN TALC CANCER TRIAL
Johnson & Johnson’s stock is currently trading at 139.42-higher by 0.52% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.25%. The stock has continued gaining after the opening bell.
A New Jersey jury on Wednesday cleared the company of liability in a lawsuit filed by a person. The person alleged that asbestos in the company’s talc-based products, including baby powder, caused his mesothelioma. The jury delivered its unanimous verdict in Middlesex County Superior Court in New Brunswick, in the case of plaintiff Ricardo Rimondi.
The company faces some 13,000 talc-related lawsuits nationwide. J&J denied the allegations by saying that numerous studies and tests by regulators worldwide have shown its talc to be safe and asbestos-free.
J&J on Wednesday also settled three other mesothelioma talc cases pending in state courts in California, Oklahoma and New York.
On the technical front, the RSI is currently at 60.22% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 139.25 TAKE PROFIT AT 140.35 STOP LOSS AT 138.70