Johnson & Johnson reported quarterly earnings and revenue that topped analyst expectations, while also lifting its full-year guidance. Despite the positive results, the stock slipped roughly 1.8% in midday trading, a move some analysts attribute to profit-taking or broader market headwinds.
Wholesale Prices Drop
The Producer Price Index fell 0.3% month-over-month in June, a sharper decline than forecast. The drop was driven largely by lower energy and food costs, adding to evidence that inflation pressures are easing. The data comes as the Federal Reserve weighs its next policy move.
PayPal Attracts Takeover Interest
Shares of PayPal jumped after an unsolicited $60.50 per share offer emerged, representing a 28% premium to the prior close. The bid values the payments giant at more than $53 billion, signaling strong external conviction in its long-term value. No decision has been announced.