NYSEARCA:DIA - American Stock Exchange - US78467X1090 - ETF - Currency: USD
Wall Street is struggling to find risk-on momentum, with major indexes stuck near the flatline at midday as investors assess the latest earnings reports from mega-cap tech stocks and weaker-than-expected U.S.
Caution dominates Wednesday's midday trading session in New York as investors anxiously await the Federal Open Market Committee decision at 2 p.m. ET.
According to Koyfin data, its earnings narrowly missed Wall Street expectations, while quarterly revenue of $17.18 billion was in line with estimates.
According to TheFly, Wells Fargo analyst Joseph O'Dea upgraded the stock to ‘Overweight’ from ‘Equal Weight’ and raised the price target to $170 from $140.
During the earnings call, J&J highlighted several growth drivers, including its positioning for 5%-7% annual growth through 2030 and plans to increase its dividend annually.
The company's full-year medical loss ratio, a key metric tracking the percentage of premiums paid out for medical expenses, rose to 85.5% from 83.2% in 2023.