Question-and-Answer SessionLet me just open up the conversation, we're coming off of a year with significant outperformance for the stock, some really impressive kind of underlying fundamentals, would love just to hear about your top priorities for the company as we enter 2026.Joaquin DuatoCEO & Chairman Thank you. So first, thank you for organizing this impressive meeting. Every year JPMorgan does a very good job in bringing us all together and kicking off the year. So thank you for doing that. And thank y ...

Johnson & Johnson (NYSE:JNJ) FY Conference January 12, 2026 11:15 AM ET Company ParticipantsJoaquin Duato - Chairman and CEOChris Schott - Managing Director and Senior Equity Research AnalysChris SchottGood morning. I'm Chris Schott from JPMorgan, and it's my pleasure to be hosting this fireside discussion with Joaquin Duato, the Chairman and CEO of J&J. Joaquin, happy New Year.Joaquin DuatoThank you.Chris SchottGreat speaking with you today. Do you want to just open up the conversation? We're coming off of ...

In this articleJNJXBIPFEBMYLLYThe J.P. Morgan conference draws thousands of investors, analysts, and executives. Above, a JPMorgan Chase branch in San Francisco, in 2021. (David Paul Morris/Bloomberg)The first morning of the biggest healthcare conference of the year seems to have come and gone without any major deal announcements. ...

Federal Reserve Investigation - A criminal investigation has been launched into Federal Reserve Chair Jerome Powell regarding the renovation of the Fed's Washington headquarters and potential false statements made to Congress about the project's scope [2][3] - The investigation, approved by Jeanine Pirro, includes analysis of Powell's public statements and spending records [3] - The renovation project, which began in 2022, is approximately $700 million over budget and involves modernizing the Marriner S. Eccles Building and another building, both of which have not been comprehensively renovated since their construction nearly 100 years ago [5] Allegiant Travel Acquisition - Allegiant Travel Co. has agreed to acquire Sun Country Airlines in a cash-and-stock deal valued at approximately $1.5 billion, including net debt [8] - Under the terms of the agreement, Sun Country shareholders will receive 0.1557 shares of Allegiant common stock and $4.10 in cash for each share, implying a total value of $18.89 per share, representing a 19.8% premium over Sun Country's closing price of $15.77 [8] Meta's Compliance with Age Restrictions - Meta has removed over 550,000 accounts of Australian children from its platforms to comply with a social media ban for users under 16 [9][10] - The removal included 330,000 users from Instagram, 173,000 from Facebook, and 39,000 from Threads, following the implementation of the ban on December 10, 2025 [10] - Meta has indicated that early data suggests the ban is not effectively improving teen safety or wellbeing, citing inconsistent age-verification measures across platforms [11]

Group 1: Tariffs and Pharmaceutical Sector - President Trump has threatened pharmaceutical tariffs of up to 250% and 500% on India over Russian oil purchases, indicating a shift in the administration's approach to tariffs as a tool for industry reshaping rather than negotiation [2] - Johnson & Johnson (JNJ) has secured an exemption from certain tariffs by committing to lower drug prices, joining 14 other major pharmaceutical companies in the "TrumpRx" program, which aims to align US drug prices with European counterparts [3] - Moody's Analytics reported a "collapse in pharmaceutical imports" as companies stockpiled goods in anticipation of tariffs, demonstrating the market's tendency to react preemptively to presidential announcements [3] Group 2: Energy Sector and Venezuela - Following the capture of Venezuelan President Nicolás Maduro, President Trump declared a national emergency and announced new sanctions, leading to a surge in US energy stocks, with Chevron (CVX) rising 5% and Exxon Mobil (XOM) increasing by 2.2% [4] - However, by January 10, 2026, analysts expressed skepticism about the viability of Venezuelan oil investments, citing a lack of legal pathways and the need for significant infrastructure rebuilding [5] - Venezuelan government bonds saw a rally, with a bond maturing in 2027 increasing from 31.5p to over 40p on the dollar, indicating market interest despite the geopolitical instability [5] Group 3: Credit Card Industry - President Trump proposed a one-year, 10% cap on credit card interest rates, aiming to save Americans "tens of billions of dollars," which has raised concerns among banking executives [6][7] - The banking industry, including the Bank Policy Institute and the American Bankers Association, warned that such a cap could lead consumers to less regulated alternatives and reduce credit availability [8] - Major credit card companies like American Express (AXP) and JPMorgan Chase (JPM) experienced stock declines of -1.92% and -0.18% respectively, reflecting market apprehension about the proposed cap [8] Group 4: Defense Sector - President Trump's executive order threatening to restrict stock buybacks and dividends for defense contractors initially caused a drop in defense stocks, but a subsequent announcement of a $1.5 trillion defense budget for fiscal year 2027 led to a rally in the sector [9][10] - Northrop Grumman (NOC) saw a premarket increase of 6.8%, while Lockheed Martin (LMT) rose 6.7%, indicating strong market response to the budget announcement [10] - The iShares US Aerospace & Defense ETF gained approximately 55% over the past year, significantly outperforming the S&P 500's 17% increase, highlighting robust demand in the defense sector [10] Group 5: Market Reactions and Trends - The US stock market exhibited polarized performance on January 8, 2026, with the DOW gaining 60.94 points (+0.12%) while the S&P 500 and NASDAQ Composite fell [13] - By January 9, 2026, the indices largely recovered, with the S&P 500 climbing 0.6% and the DOW adding 0.5%, indicating a rotation out of high-growth technology into heavy industry [14] - Analysts forecast a 10% increase for the S&P 500 in the remainder of 2026, although they acknowledge that presidential tariffs pose a significant source of uncertainty for market performance [15]

For decades, the crowds outside House of Nanking have been a fixture of San Francisco’s Chinatown, with lines frequently wrapping around the block to get a seat in the cramped, high-energy dining room, under the iconic, multicolored sign that crowns Kearny Street. But for Kathy Fang, the restaurant’s heir apparent, her presence in that kitchen represents a sharp deviation from the “American Dream” her parents envisioned for her—a deviation that initially caused them deep dismay.Peter Fang, the restaurant’s ...

Group 1 - The article discusses the expertise of Fred Piard, a quantitative analyst with over 30 years in technology, focusing on data-driven systematic investment strategies since 2010 [1] - Fred Piard manages an investing group called Quantitative Risk & Value, which emphasizes quality dividend stocks and innovative tech companies [1] - The article highlights that Fred provides various market risk indicators and investment strategies, including real estate, bonds, and income strategies in closed-end funds [1]

Core Insights - Johnson & Johnson announced promising results from the Phase 1b/2 OrigAMI-1 study of amivantamab combined with chemotherapy for RAS/BRAF wild-type metastatic colorectal cancer, showing over 70% response rates in the first-line subgroup and durable responses lasting beyond 16 months [1][2][5] Study Results - The study demonstrated a confirmed overall response rate (ORR) of 51% across all patients, with a median duration of response (DOR) of 9.3 months and a median progression-free survival (PFS) of 9.2 months [5][6] - In the first-line subgroup, the ORR was 73%, with some patients maintaining responses for over two years, and four patients proceeding to curative intent surgery [5][6] - Notable activity was observed in patients with liver metastases, achieving an ORR of 57% and a median PFS of 11.3 months [6] Safety Profile - The safety profile of amivantamab plus chemotherapy was consistent with previous reports, with treatment-related adverse events primarily linked to EGFR and MET inhibition [6] - Only 9% of patients discontinued therapy due to treatment-related adverse events, with neutropenia being the most common Grade 3 or higher event [6] Future Directions - Johnson & Johnson is advancing pivotal Phase 3 studies (OrigAMI-2 and OrigAMI-3) to further evaluate amivantamab-based regimens in both first- and second-line colorectal cancer settings [7]

Core Insights - Eli Lilly and Johnson & Johnson both reported strong third-quarter results, indicating robust performance in their respective healthcare sectors [1] Company Performance - Eli Lilly and Johnson & Johnson demonstrated fundamentally different healthcare business models despite both achieving strong earnings [1]

Core Insights - The "High-Income DIY Portfolios" Marketplace service aims to provide high income with low risk and capital preservation for DIY investors, particularly targeting income investors such as retirees or near-retirees [1][2] - The service offers a total of 10 model portfolios, including 3 buy-and-hold, 3 rotational portfolios, and a conservative NPP strategy portfolio, designed to create stable, long-term passive income with sustainable yields [1][2] Group 1 - The service includes two High-Income portfolios, two Dividend Growth Investing (DGI) portfolios, and a conservative NPP strategy portfolio that focuses on low drawdowns and high growth [1] - The unique 3-basket investment approach aims for 30% lower drawdowns, 6% current income, and market-beating growth over the long term [2] - The portfolios are structured to cater to varying levels of risk and include buy and sell alerts along with live chat support for investors [2]