Johnson & Johnson loses $10.7B after sweeping US tax changes

Johnson & Johnson posted a rare quarterly loss, a whopping $10.71 billion, due to a $13.6 billion charge related to last month’s U.S. tax overhaul.
While the loss was expected and the company’s adjusted results beat Wall Street expectations, shares fell nearly 3 percent in morning trading, an unusually big swing for the health care giant.
On Tuesday, J&J reported a big jump in sales, but that was offset by sharply higher spending on production, marketing, administration and r