Mead Johnson Nutrition Shares Slammed After Walmart Pulls Products

Wal-Mart (NYSE:WMT) pulled the plug on Enfamil, a major brand of baby formula, following the death of a 10-day-old infant in Missouri. The baby died due to a rare infection that could be linked to the formula. An exec with the firm says the move was made out of “an abundance of caution.”

Mead Johnson Nutrition (NYSE:MJN) shares got slammed following the removal of the formula from the shelves of Wal-Mart’s 3,000-plus stores.

Here’s how Wal-Mart and Mead Johnson Nutrition are trading on the news:

Wal-Mart Stores Inc. (NYSE:WMT): WMT shares recently traded at $59.83, up $0.64, or 1.08%. They have traded in a 52-week range of $48.31 to $59.66. Volume today was 2,379,554 shares versus a 3-month average volume of 11,378,500 shares. The company’s trailing P/E is 12.66, while trailing earnings are $4.72 per share. Get the most recent company news and stock data here >>

Mead Johnson Nutrition Company (NYSE:MJN): MJN shares recently traded at $65.10, down $3.66, or 5.32%. They have traded in a 52-week range of $55.12 to $76.91. Volume today was 5,868,229 shares versus a 3-month average volume of 1,701,090 shares. The company’s trailing P/E is 25.63, while trailing earnings are $2.54 per share. Get the most recent company news and stock data here >>