Johnson & Johnson is buying $10 billion worth of itself

Johnson & Johnson is set to report third-quarter earnings results on Tuesday morning.

Ahead of the release, the company announced a $US10 billion share buyback program. It said it will finance the repuchases by issuing debt.

Its stock is down 8% year-to-date., and 5% over the past 12 months.

Analysts estimate that J&J will post adjusted earnings per share of $US1.45 on revenues of $US17.45 billion, according to Bloomberg.

More to come …

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