Kenvue Inc (KVUE)

Shares of Kenvue Inc (KVUE) dropped by 5.27% from $19.73 to $18.69 in the trading on Thursday, October 6,2023. The reason why KVUE stock down is due to weaker-than-expected quarterly results:

• In its Q3 2023 financial report, Kenvue Inc reported a 3.3% increase in net sales to $3.9 billion, driven by value realization but partially offset by a volume decline, attributed to portfolio changes and market conditions in China. Gross profit margin improved slightly, and adjusted operating income margin decreased.
• Net income for the quarter was $438 million, down from $586 million the previous year, with reported diluted earnings per share of $0.23 and adjusted diluted earnings per share of $0.31.

Kenvue Inc Stock (KVUE) dropped by 6.21% from $22.83 to $20.99 in the trading on Thursday September 07, 2023. The reason why KVUE stock down today is due to fears on Tylenol lawsuits. The primary driver behind the recent sell-off in Kenvue's stock is the mounting legal scrutiny surrounding Tylenol, particularly concerning its potential link to neurological disorders in children exposed to the medication during pregnancy. Multiple lawsuits have been filed against Kenvue and Johnson & Johnson, alleging that Tylenol exposure during pregnancy can lead to autism spectrum disorder (ASD), attention deficit hyperactivity disorder (ADHD), and other neurological impairments. The uncertainty surrounding the outcome of these lawsuits has fueled investor anxiety, leading to a significant drop in Kenvue's stock price.