J&J rises after issuing 2016 guidance

Johnson & Johnson (NYSE:JNJ) gained $4.78 to $101.18 on Tuesday after reporting earnings and issuing 2016 guidance. The company expects adjusted EPS this year of $6.43-$6.58, exceeding a consensus estimate of $6.38.

On a conference call, Chairman and CEO Alex Gorsky reiterated the company's appetite for M&A remains strong. Last year, he said, J&J felt the "market was premium priced." Gorsky said earlier this month at the JPMorgan Healthcare Conference in San Francisco the company expects to rely on M&A to spur growth, with a preference for "smaller opportunities." ...