Kenvue is the world’s largest pure-play consumer health company by sales, generating $15 billion in annual revenue. Formerly known as Johnson & Johnson’s consumer segment, Kenvue spun off and went public in May 2023. It operates in a variety of silos within consumer health, such as cough, cold and allergy care, pain management, face and body care, and oral care, as well as women’s health. Its portfolio includes a wide array of some of the most well-known brands in the space, including Tylenol, Listerine, Johnson’s, Aveeno, and Neutrogena. Despite playing in a fragmented industry with intense competition and ever-changing consumer preferences, many of Kenvue’s brands are the global leader in their respective segment thanks to their strong brand power.

Kenvue Technologies Inc., formerly part of Johnson & Johnson, is a pure-play consumer health company. The company has three segments: Self Care, Skin Health & Beauty, and Essential Health. Major brands include Tylenol, Nicorette, Zyrtec, Neutrogena, Aveeno, Listerine, and Band-Aid. The company has 22,000 employees. KVUE shares are a component of the S&P 500.

Major indices are mixed at midday. Crude oil is down 3%. Wall Street is waiting on the key inflation report coming tomorrow. Any surprises will not be appreciated. We expect the CPI report to show a slight tick down, meaning that inflation is tracking lower, as the Fed wants. Markets have priced in a Fed rate cut at the meeting next week.

In this edition, Bellway builds an appealing position; Kenvue is looking fairly healthy; Rockwell engineers a most; and Rheinmetall, Disney, and New Fortress Energy.