J&J announces $5 bn share buyback after losing $50 bn m-cap
Johnson & Johnson (J&J) on Monday said it plans to buy back up to $5 billion of its stock after over $50 billion of its market value was wiped out in two days. This comes after a recent report suggested that the company had known its baby powder contained cancer-causing asbestos. Shares of the company ended 2.75% down on Tuesday.