News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Merck & Co., Inc. (MRK) and Johnson & Johnson (JNJ) Sit on Piles of Cash


8/9/2011 7:15:40 AM

As it turns out, giant companies like Prudential Financial and Johnson & Johnson aren’t so different than average consumers unnerved by the nation’s economic uncertainty. Some of the largest companies are holding onto huge stashes of money because, like American families, they’re worried about the economy and its impact on their future finances. Prudential Financial and Merck have each added $1 billion in cash this year to their troves. And Johnson & Johnson has socked away $3 billion since January. "Companies feel like they don’t have strong confidence that things will be better in the next year," said John Challenger, chief executive officer of Challenger, Gray & Christmas. "Why take risks right now?"

Read at nj.com


comments powered by Disqus
nj.com
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES