Several major corporations reported first-quarter earnings this week, with mixed results across the financial and healthcare sectors.

JPMorgan Chase posted strong results, with GAAP earnings per share of $5.94 beating analyst expectations by $0.48. The bank's revenue of $50.5 billion also exceeded forecasts by $1.59 billion. Wells Fargo showed a more mixed performance, with GAAP EPS of $1.60 beating estimates by $0.02, though revenue of $21.45 billion fell short of expectations by $340 million.

Johnson & Johnson delivered solid quarterly performance, reporting non-GAAP earnings per share of $2.70, which beat analyst estimates by $0.02. The pharmaceutical and medical device company's revenue of $24.06 billion exceeded expectations by $450 million. The company's first-quarter sales growth was driven by strength in its cancer drug portfolio, as J&J works to maintain consistent growth following the loss of patent protection for its blockbuster drug Stelara.

Following the strong quarterly results, Johnson & Johnson announced a dividend increase of 3.1%, raising the quarterly payment to $1.34 per share. This marks the company's continued commitment to returning capital to shareholders amid its strategic focus on maintaining revenue growth through its oncology division.

In merger and acquisition activity, Avanos Medical saw its stock price surge 67% following news of a $1.27 billion acquisition by American Industrial Partners. The deal represents a significant premium for shareholders of the medical technology company.