Reported 2 days ago
Billionaire investor Daniel Loeb's hedge fund, Third Point, is acquiring a stake in Kenvue, the consumer health branch of Johnson & Johnson, as it faces pressure from various activist investors for strategic changes. Following the news, Kenvue's stock rose temporarily but later closed at $23.01, reflecting ongoing challenges as the company contemplates how to enhance its brand positioning and financial performance amidst flat sales. Kenvue, known for its popular brands like Band-Aids and Tylenol, has been navigating investor scrutiny since its IPO in 2022.
Source: YAHOO