Mead Johnson Nutrition Company (MJN)
Last time I checked in with Mead Johnson Nutrition Company (MJN), we had seen a recent gap that re-took the 200 day SMA and was holding. My ideal set-up was for some continued consolidation above the 200 day and then a next leg higher which could ultimately reach the 90’s. After not much consolidation we saw MJN start to move and after reaching $80, that was it. The negative sentiment seemed to stem from a report that China is cracking down on formula products coming in from Honk Kong. This news also prompted Credit Suisse to lower estimates for MJN…
Mead Johnson Nutrition Company (MJN)
Mead Johnson Nutrition Company (MJN) may not be a household name. Frankly even after reviewing their brands (which you can look over by Clicking Here), I still wasn’t familiar with the company. What I am familiar with is their recent Q4 earnings report which beat on EPS and revenues (72c vs 68c and $981.1M vs $956.32M). MJN’s guidance for 2013 did look to be somewhat below analyst expectations coming in at a range of $3.22-3.30 with analysts consensus being $3.33. It was on that earnings report that MJN gaped significantly higher and came on my radar. From a technical prospective…