PG is eyeing its best single-day percentage gain since November
Blue-chip earnings reports continue to roll in, with results from Procter & Gamble Co (NYSE:PG) and Johnson & Johnson (NYSE:JNJ) on tap. The former beat fiscal second-quarter profit and revenue estimates due to strong demand for household products like toilet paper and laundry detergent. Meanwhile, the latter beat fourth-quarter expectations thanks to sales of its cancer treatment, but shared a lackluster 2025 outlook.
PG is up 2.4% to trade at $165.68 at last check, pacing for its fourth-straight gain and best single-day percentage pop since November. Shares are bouncing off their lowest level since April, and could today conquer overhead pressure from the 20-day moving average. The security also sports a 5% year-over-year lead.
On track for its worst day since July 2023, JNJ was last seen down 3.9% at $142.26. The security has shed 7.3% in the past 12 months, and is pulling back toward its Jan. 10, four-year low of $140.68, after yesterday's rally ran into long-term resistance at its 50-day trendline.
Both equities are getting blasted in the options pits today, with PG and JNJ seeing 5 and 3 times the intraday average volume so far, respectively. For the former, the most popular contract active is the weekly 1/24 162.50-strike call, while for the latter it's the 150-stirke call in that series.