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Johnson & Johnson 2019 revenue forecast misses expectations

“(Reuters) – Johnson & Johnson on Tuesday forecast 2019 sales that fell short of analysts’ estimates as the healthcare conglomerate faces increasing competition for some of its older drugs” writes Midwest Communications Inc for 95kqds.com. Excluding items, the company earned $1.97 per share, beating analysts’ average estimate of $1.95 per share.The company said it expected adjusted 2019 profit in the range of $8.50 per share to $8.65 per share, compared with analysts’ expectation of $8.60 per share.In the quarter ended Dec. 31, the company’s litigation expense doubled to $1.29 billion. Source:…

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UBS swings to profit, but misses expectations

“UBS Group AG UBS, +0.89% said Tuesday that it swung to a profit in the fourth quarter of the year but missed analysts’ expectations” writes Pietro Lombardi for marketwatch.com. In recent years UBS has shifted toward managing money for wealthy clients while streamlining its investment bank operations.Adjusted pretax profit for the quarter fell at UBS’s investment bank and at its key wealth-management business, with the latter reporting a 22% decline on year in adjusted pretax profit.The Swiss bank reported a net profit of $696 million for the quarter compared with…

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Markets News Stocks 

Stocks slide after the IMF cut its forecast for global growth amid mounting concerns about the US-China trade war

“Stocks around the world are sliding Tuesday after a gloomy global growth outlook from the International Monetary Fund (IMF) gave investors another thing to worry about” writes Will Martin for businessinsider.com. On Monday, the IMF released its latest forecasts for global GDP growth in the coming two years, and lowered both estimates from previous forecasts.Growth in 2019, the fund said, will be 3.5% globally, while next year it will come in at 3.6%.The two issues have combined to subdue stocks, with major indexes in Asia and Europe falling, and US…

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UBS posts $690 million fourth-quarter pre-tax earnings, missing expectations

“FILE PHOTO: Logo of Swiss bank UBS is seen in Zurich Thomson Reuters ZURICH (Reuters) – UBS on Tuesday posted a $690 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank” reports businessinsider.com. On an adjusted basis, fourth-quarter pre-tax profit fell to $862 million, less than the $1.038 billion forecast in the bank’s own analyst consensus summary.Full-year net profit rose to $4.897 billion from $969 million in 2017, when a one-off 2.9 billion franc hit from U.S. tax…

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News Regulators 

As outlook darkens, central banks think hard about their language

“Conditions have not deteriorated to the point where central banks need to ponder reverting to extreme measures” reports businessinsider.com. That raises the hurdle for central banks to make forward guidance work.”. The BOJ could be among the major central banks most reliant on forward guidance.”Forward guidance was effective after the Lehman crisis because it was something new and surprised people,” she said.But other central banks, notably the BOJ, have been forced to maintain or even strengthen forward guidance to make up for a lack of alternative tools. Source: businessinsider.com

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Markets News 

Investors are headed for disappointment in 2019 | Your Funds

“American investors almost certainly are headed for disappointment this year, even if the stock market continues its recent rebound and avoids too much trouble” writes Chuck Jaffe for seattletimes.com. Quite simply, individual investors want it all: reward without risk, safety without diminished performance, and bigger returns despite a market prepared to offer less.I’ll skip the other appropriate descriptions to say simply that investors are destined for failure and disappointment that way, unless the market manages to resume a path of straight-up gains.A recent survey of individual investors conducted by Natixis…

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Markets News Regulators Stocks 

Gold steady on Fed pause hopes, equity recovery

“Spot gold edged about 0.1 percent lower to $1,290.80 per ounce at 0401 GMT, while U.S. gold futures were unchanged at $1,291.4 an ounce” writes Umit Bektas for cnbc.com. Spot gold looks neutral in a range of $1,285-$1,299 per ounce, and an escape could suggest a direction, according to Reuters technical analyst Wang Tao.Gold tends to gain on expectations of lower interest rates, as they reduce the opportunity cost of holding non-yielding bullion.Gold prices held steady on Tuesday, supported by market expectations of fewer interest rate hikes in the year…

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Acuity Brands’ stock jumps after profit, sales rise above expectations

“AYI, +1.80% rallied 2.9% in premarket trade Wednesday, after the lighting and building management company reported fiscal first-quarter earnings and sales that rose above expectations” writes Reporter Editor for marketwatch.com. Excluding non-recurring items, adjusted earnings per share came to $2.32, above the FactSet consensus of $2.11.The stock has slipped 4.4% over the past three months through Tuesday, while the Dow Jones Industrial Average DJIA, +1.09% has lost 10.0%. Source: marketwatch.com

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