Johnson & Johnson said Thursday it filed for marketing approval to the Food and Drug Administration of its drug canagliflozin, a once-per-day pill intended to treat Type 2 diabetes.

Today marks the start of the earnings reports that really matter --the bank stocks. This morning we heard from two of the biggest.

Wells Fargo (WFC) and JP Morgan (JPM) reported their results for the first quarter, both beating expectations, albeit with the ever present "noise" familiar to shareholders of big banks.

Conventional wisdom says that everything changes once a company goes public. Instead of helming your own ship, you now have to kowtow to the voracious Wall Street masters, ever hunting for bigger and better quarterly earnings. You have to play nice with the press, for fear of bad news leading to a short of your stock.