Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. The Dow Jones Industrial Average ( ^DJI) is trading up 56 points (+0.3%) at 16,473 as of Friday, Jan 17, 2014, 1:35 p.m. ET. During this time, 342 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 357.5 million. The NYSE advances/declines ratio sits at 1,391 issues advancing vs. 1,588 declining with 147 unchanged.
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.
The Dow component leading the way higher looks to be Johnson & Johnson (NYSE: JNJ), which is sporting a 38-cent gain (+0.4%) bringing the stock to $95.02. This single gain is lifting the Dow Jones Industrial Average by 2.88 points or roughly accounting for 5.1% of the Dow's overall gain. Volume for Johnson & Johnson currently sits at 6.9 million shares traded vs. an average daily trading volume of seven million shares. Johnson & Johnson has a market cap of $267.47 billion and is part of the health care sector and drugs industry. Shares are up 3.3% year to date as of Thursday's close. The stock's dividend yield sits at 2.8%. Johnson & Johnson, together with its subsidiaries, engages in the research and development, manufacture, and sale of various products in the health care field worldwide. The company operates in three segments: Consumer, Pharmaceutical, and Medical Devices and Diagnostics. The company has a P/E ratio of 21.2, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Johnson & Johnson as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, reasonable valuation levels and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.