Shares of Johnson & Johnson JNJ and Goldman Sachs Group Inc. GS were the biggest drags on the Dow Jones Industrial Average DJIA, even as both companies reported first-quarter profit that topped expectations. J&J’s stock fell $3.92, or 2.4%, as the drug maker recorded a large charge as it settled lawsuits stemming from its talc-containing powders. Goldman’s stock shed $6.37, or 1.9, after the banker and broker’s profit beat, but revenue fell short. The two stocks’ combined $10.29 price declines shaved about 68 points off the Dow’s price, as the Dow slipped 15 points, or 0.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.