Likes oil longer-term but shorter-term it is probably going to come under pressure and may go lower. If you own, Hold, otherwise buy it at lower levels.
Has $25 billion in cash, which is about a quarter of their market cap. Their competition is in total disarray and they are able to make some good acquisitions.
Very strong balance sheet. Have 3 really great businesses including consumers, medical devices and pharmaceuticals. Made a very good acquisition from Pfizer (PFE-N) of their consumer products. Nice dividend of 4.5%.
