J&J beats expectations
Johnson & Johnson on Tuesday reported that revenue for the second quarter was $15.2 billion, down 7.4 percent from the same period a year ago. The health products maker said its net earnings were $3.2 billion for the period, or $1.15 per share, down about 5 percent from the same period last year. A year ago, the firm earned $3.37 billion, or $1.18 per share. Analysts had expected $1.11 per share, according to Reuters Estimates.
BA considers bonds issue
British Airways said Tuesday it is considering launching a convertible bonds issue to bolster its balance sheet, according to Reuters. The airline’s chairman, Martin Broughton said a rights issue was not appropriate due to a “number of key issues” coming up in the next twelve months.
Airline capacity stabilizing
Global airline capacity, after cuts in the past year, is beginning to stabilize, according to aviation data firm OAG. Scheduled flights are down 3 percent in July compared with the same period last year, according to the report. According to a chart the heaviest capacity drop this year took place in February with a drop of 7 percent.