Racing for a cure

Johnson & Johnson’s stock rose to a two-month high after the world’s biggest health products company raised its dividend and gave investors a reassuring forecast, despite the viral pandemic. Johnson & Johnson said it now expects 2020 revenue of $77.5 billion to $80.5 billion, down from its January forecast of $85.4 billion to $86.2 billion. It also forecast adjusted earnings per share of $7.50 to $7.90,
down from the January forecast of $9 to $9.15 per share. Despite that, the company increased its quarterly stock dividend, for the 58th consecutive year, from 95 cents to $1.01 per share. Johnson & Johnson also said it aims to have a single-dose vaccine candidate for the new coronavirus available for broad use early in 2021. The company is aiming to have 600 million to 800 million doses available in the first half of next year alone