Johnson & Johnson shares fell 6% after its medical device sales missed forecasts, even though third-quarter results beat estimates. Revenue was $25.4 billion, above the $25.37 billion expected. Adjusted earnings were $2.59 per share, $0.07 above estimates. MedTech sales rose 2.5% to $8.6 billion, below the $8.71 billion forecast, and marked a second straight quarterly miss. The company blamed the Middle East conflict, European austerity, and pricing pressure in China. Pharmaceutical sales rose 7.7% to $16.76 billion. Net earnings fell to $210 million from $2.12 a year earlier, hit by about $7 billion in talc settlement and deal costs. The company raised its full-year sales outlook to about $101.2 billion and said it is leaning toward spinning off its orthopedics unit, DePuy Synthes, by mid-2027.

Johnson & Johnson's medtech sales rose 2.5% year over year to $8.64 billion in the third quarter, missing internal expectations. Growth has slowed for two quarters in a row, after rising more than 7% in the first quarter and last year's fourth quarter. The cardiovascular unit grew 4.3% to $2.31 billion. Its Abiomed business, bought in 2022 for $16.6 billion, fell 2.3% to $412 million. Tim Schmid, worldwide chairman of medtech, blamed lower patient volume after an unfavourable UK study of the Impella heart device. He called the setback temporary and said pressure also came from sales outside the US. J&J expects results from its PROTECT IV study of nearly 1,300 patients next year.

US stock futures were mixed on Tuesday as investors weighed a wave of earnings reports. Dow futures rose 0.9%, S&P 500 futures slipped 0.1%, and Nasdaq futures fell 0.7%. Memory stocks fell for a second day after a Chinese chipmaker, CXMT, said it had made a breakthrough in memory chip production. Roundhill Memory ETF fell more than 5% in premarket trading. UnitedHealth rose more than 2% after it earned an adjusted $4.69 per share on $112.69 billion in revenue, beating estimates. It raised its full-year earnings outlook to at least $20.50 per share. Goldman Sachs gained more than 3% on strong results. JPMorgan Chase, Wells Fargo, and Citigroup fell short in parts of their reports. Johnson & Johnson fell 2% after $25.40 billion in sales narrowly missed estimates, though it raised its full-year forecasts.