Updated from 3:12 p.m. EST
Johnson & Johnson's (JNJ Quote) shares closed to the downside Tuesday amid a weak forecast from the company and a down day overall for the U.S. stock market.
The New Jersey-based drug and consumer-products giant predicted earnings for 2009 of $4.45 to $4.55 a share, which excludes the impact of certain items, but includes a reduction of 3 cents to 5 cents from the pending acquisition of Mentor (MNT Quote). On average, analysts surveyed by Thomson Reuters are calling for $4.61.
J&J's outlook came as the company reported fourth-quarter earnings of $2.7 billion, or 97 cents a share. Before items, the company would have earned 94 cents, 2 cents better than expectations. In the same quarter last year, J&J had a profit of $2.4 billion, or 82 cents a share. ...
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