Dow Jones News: Johnson & Johnson Cuts Outlook; JPMorgan Chase Prepares for the Worst
The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 2.3% by 12:35 p.m. EDT Tuesday as earnings season began in earnest. As more companies report results in the coming days and weeks, it will become clearer how badly the coronavirus pandemic and the associated social distancing are hitting corporate profits.
Johnson & Johnson (NYSE: JNJ) was forced to cut its full-year guidance due to the pandemic, but the company beat expectations for the first quarter and raised its dividend. Meanwhile, JPMorgan Chase (NYSE: JPM) had little good news to share, missing analyst estimates badly as credit loss reserves were built up ahead of what will be a rough period for many banks.
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Source Fool.com
