TheStreet’s Jim Cramer is keeping an eye on Johnson & Johnson (JNJ) Tuesday when the company releases its latest quarterly results. The global healthcare giant is scheduled to post third quarter earnings before the bell. Cramer says, ‘there is a hatred of anything growth in this market and a love of value.’ He says that’s going to be tested Tuesday with JNJ’s results. Cramer says that’s because, ‘this stock has moved up from $91 to $96 and if you see this stock falter then you’re going to see another wave of selling and growth.’ ‘Watch out’, he says, ‘biotech remains in a hideous bear market, anything you touch in that sector is going to hurt you.’ Analysts surveyed by Reuters are expecting the company to earn $1.45 a share on $17.47 billion in revenue for the quarter. Shares of JNJ are down more than 8 percent year-to-date.
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