14:03 ET -- Johnson & Johnson is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The New Jersey-based drug company said its board has authorized the repurchase of up to $5 billion in stock and it doesn't expect to incur debt to fund the repurchases. J&J also reaffirmed its 2022 adjusted operational sales growth guidance of 6.5% to 7.5% and earnings per share at $10.65 to $10.75. "With our strong cash flow and lowest level of net debt in five years, we have the ability to invest in innovation, grow our dividend, execute strategic acquisitions, and take this action to deliver shareholder returns and drive long-term growth," said CEO Joaquin Duato. Dow Jones & Co. owns Factiva. (jennifer.tershak@wsj.com)

(END) Dow Jones Newswires

September 14, 2022 14:21 ET (18:21 GMT)

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