The share buyback was just the latest effort Johnson and Johnson (J&J) has made to boost investor confidence after the baby powder fiasco. They were up about 1% in extended trading following the announcement of the share buyback. “We unequivocally believe that our talc, our baby powder, does not contain asbestos,” Gorsky said in a clip CNBC released ahead of the interview. While J&J has dominated the talc powder market for more than 100 years, the products contributed less than 0.5% of its $76.5 billion revenue last year. J&J shares were trading at $130.30 in after hours trading following a close at $129.14 on Monday.

Source: Mint December 18, 2018 07:52 UTC