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J&J −6.2%, Citi −3.8% After Beats; Micron −5.1%: Midday 10

Earnings — J&J −6.2% and Citi −3.8% after beats; Micron −5.1%, chip fund back under its 50-day line

Good numbers, cold reception: J&J beat and raised, but its medical-devices unit grew only 2.5%; Citi beat on both lines and still falls. JPMorgan, which missed, recovers from −2% before the open to +0.2%; Goldman +0.3% after a wide beat. S&P 500 −0.1%, Nasdaq-100 −0.5%, energy fund +1.2%.

In this edition

JNJ XLV C JPM GS WFC BAC MS

The Midday 10 Tue, Oct 13, 2026 ~60 seconds 13:15 ET

The first big earnings day is a lesson in expectations. At about 13:15 ET the S&P 500 is down 0.1%, the Nasdaq-100 0.5% and the Dow 0.4%, and the biggest moves come from companies that beat. Johnson & Johnson is down 6.2% after topping estimates and raising its outlook; Citigroup is down 3.8% after a beat on both lines.

The miss of the morning is doing better: JPMorgan, which fell short on profit and revenue and traded about 2% lower before the open, is up 0.2%. Goldman Sachs, the widest beat of the day, is up 0.3%.

The chip selling that started in Korea continues in New York: Micron −5.1% to $938, ASML −3.1% a day before its report, the chip fund SOXX −1.3% and back under its 50-day average. Energy leads again, the energy fund XLE +1.2%.

US intraday quotes at about 13:14 ET (17:14 UTC), measured against Monday's closes; intraday prints are not closes. Quotes via Yahoo Finance and the site's live market strip. Earnings figures and the reasons for the J&J and Citi moves as reported by CNBC, Reuters, Investing.com, TipRanks and the companies' filings.

  1. Johnson & Johnson −6.2% to $247.27 after a beat and a raised outlook
  2. Citigroup −3.8% to $126.96 despite beating on both lines
  3. The miss holds up: JPMorgan +0.2% to $334.83 after −2% before the open; Goldman +0.3% after a wide beat
  4. Memory sold again: Micron −5.1% to $938.47, SanDisk −2.1%, Lumentum −2.3%
  5. Chip fund SOXX −1.3% to $538.02, just under its 50-day line (538.16); ASML −3.1% a day before its report
  6. A few big software and platform names bought: Oracle +3.1% to $141.68, Meta +2.8% to $763.40, Microsoft +0.8%
  7. Sectors: energy +1.2% leads, health care −1.2% trails on J&J; financials −0.2%, utilities +0.2%
  8. Indices: S&P 500 fund SPY −0.1% to $777.20, Nasdaq-100 −0.5%, Dow −0.4%, Russell 2000 −0.6%
  9. Oil mixed, gold soft: Brent about $106.10 (−0.5%), US crude $94.49 (+0.8%); gold −0.4% to $4,175, bitcoin +1.6%
  10. Print Record: PepsiCo scored at tonight's close (−1.1% from its start); Delta at $79.05, under its 'sold' mark

The ten lines

  1. 1

    DOWN Johnson & Johnson −6.2% to $247.27 after a beat and a raised outlook

    JNJXLV

    J&J beat on profit ($2.59 a share adjusted, against about $2.53) and on sales ($25.4 billion, +5.9%) and raised its 2026 outlook — and the stock is falling more than after any of its last ten reports. The reason given is the medical-devices unit: sales grew only 2.5%, with cardiology and surgery weak, and heart-pump sales slowed after a UK study questioned their use in some high-risk procedures, as reported. The health-care fund XLV is down 1.2%.

  2. 2

    DOWN Citigroup −3.8% to $126.96 despite beating on both lines

    C

    Citi earned $2.85 a share against about $2.66 expected, on revenue of $23.85 billion against $23.72 billion (CNBC). Its provision for bad loans, $2.6 billion including a $369 million addition to reserves tied to the economic outlook, was close to the roughly $2.62 billion expected (Investing.com). After a 37.5% rise in a year — the strongest of the big banks — a beat was not enough.

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  4. 3

    LEVEL The miss holds up: JPMorgan +0.2% to $334.83 after −2% before the open; Goldman +0.3% after a wide beat

    JPMGSWFCBACMSXLF

    JPMorgan missed on profit ($5.57 a share, $5.75 without securities losses, against about $5.90) and revenue ($50.91 billion against $51.22 billion) and has recovered its pre-market loss. Goldman Sachs earned $17.01 a share against about $13.02 and is up 0.3% to $896.20. Wells Fargo, short on revenue, −1.8%; Bank of America −1.1% and Morgan Stanley −1.3% a day before their own reports; the financials fund XLF −0.2%.

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Further reading on Closelooknet

Ten lines on the US midday tape, not advice — an investment diary. Published every trading day at 12:30 ET. See The Morning 10 and the Daily Pulse.