After its collapse on Friday, and extended losses yesterday (wiping out $50 billion in market cap), Johnson & Johnson is bouncing this morning on the back of a well-timed $5 billion buyback and headlines suggesting talc liabilities will be lower than expected.

Attorney behind Johnson & Johnson lawsuit speaks out from CNBC.

Lanier Law Firm Founder Mark Lanier (one of the lawyers who successfully represented women in a July lawsuit against JNJ) spoke on CNBC about the potential costs for J&J’s ongoing lawsuits related to its talcum powder.

Lanier said he sees litigation resolution costing the company “much, much less” than the more than $50 billion that has been wiped from the drugmaker’s market value since a Reuters report last week.

Lanier noted the size of the litigation for thousands of lawsuits over claims its baby powder caused cancer is “manageable for the size and strength of J&J.”

That seems to have briefly enthused traders who bid up JNJ by over 3.1% in the pre-market. However, the early gains are fading fast as it seems the STFR crowd is back...

We're gonna need a bigger buyback!