Johnson & Johnson is selling its Ortho-Clinical Diagnostics business to The Carlyle Group for $4 billion. Jim Cramer, who discussed J&J as a potential breakup candidate in his latest book, "Get Rich Carefully," says he believes the money from this sale will be used to buy back a huge amount of stock. Cramer expects the company to make an announcement about a big buyback when it announces its next quarterly results. He says this will send the stock north of $100 - and it's not coming down.
More from Video
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Breaking down an approach to the long side of this biotech stock.