Johnson & Johnson's
(JNJ - Get Report) shares sank 1.2% to $66.40 despite better-than-expected fourth-quarter earnings.
Excluding certain charges, the company earned 81 cents a share, 2 cents higher than analysts' estimates. Revenue reached $13.68 billion, up from $12.61 billion last year and in line with analysts' estimates.
However, the company said its acquisition of
(PFE - Get Report) consumer health care group won't add to its earnings until 2009. Earnings per share in 2007 are expected to take a 12-cent hit, and 2008 earnings should be reduced by 3 cents, excluding certain items.
(NVAX - Get Report) gained 4.4% to $4.27 after the company reported additional data on its pandemic flu vaccine after the close of trading Monday.
(VRX - Get Report)
shares gained 3.2% to $17.66 after the company restated its third-quarter earnings to reflect stock option expense. Valeant and said it recorded a profit of $13.7 million, or 14 cents a share. The company lost $2.7 million, or 3 cents a share, in the third quarter a year ago.
gained 10.5% to $2.94 after the drugmaker said it named a new chief executive officer and chief financial officer. Former
executive vice president Kenneth Bate will serve as the company's CEO, and business consultant James Ham will be CFO.
Among other health stock winners Tuesday were
, up 1.9% to $57.20;
, gaining 2.1% to $13.18;
, rising 2.7% to $26.33; and
, jumping 6.7% to $13.82.
Among the losers were Pfizer, whose shares fell 2.5% to $26.27;
, off 1.1% to $87.91;
, down 1.4% to $74.80;
, 1.9% lower to $49.24; and
, sinking 3.7% to $28.07.