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[ad_1] Thibaut Mongon, CEO of Kenvue Inc. a Johnson & Johnson consumer-health business, speaks during an interview with CNBC during his company's IPO at the New York Stock Exchange (NYSE), May 4, 2023. Brendan McDermid | Reuters Kenvue CEO Thibaut Mongon is betting on brand and product innovation to drive growth at the newly spun-out company after its solid debut on the public market Thursday.  "In the next quarter and frankly, in the years to come, we are going to continue to do what we do best, which is innovating to find new ways to serve consumers and help them take better care of their health," Mongon told CNBC in an interview shortly after shares of Kenvue started trading on the New York Stock Exchange.   related investing news Shares of the company gained 22% Thursday to close at $26.90 per share. The stock hovered around that level in early trading Friday, giving the company a market value of roughly $50 billion.  Kenvue, spun out of Johnson & Joh...

[ad_1] In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California. Justin Sullivan | Getty Images A federal bankruptcy judge on Thursday halted roughly 40,000 lawsuits that allege Johnson & Johnson 's baby powder and other talc products caused cancer . The decision is part of J&J's second attempt to settle thousands of talc cases in bankruptcy proceedings. J&J in 2021 spun off its subsidiary, LTL Management, to carry its talc-related liabilities and file for Chapter 11 bankruptcy protections.  Judge Michael Kaplan during a hearing Thursday in U.S. Bankruptcy Court in Trenton, New Jersey, put a temporary hold on the suits that will last through mid-June, The Wall Street Journal reported . J&J won't have to go to trial over any other talc claims during the pause, but new lawsuits can still be filed against the company, The Journal reported. Kaplan said during the hearing that J...

[ad_1] A combination package of Procter & Gamble Co. DayQuil Severe and NyQuil Severe brand cold and flu medicine is arranged for a photograph in Tiskilwa, Illinois. Daniel Acker | Bloomberg | Getty Images The main ingredient used in many popular over-the-counter cold and allergy medications doesn't actually work to get rid of nasal congestion, an advisory panel to the Food and Drug Administration declared Tuesday.  In a unanimous vote, 16 advisors said oral versions of phenylephrine – a nasal decongestant found in versions of drugs like Nyquil,  Benadryl, Sudafed and Mucinex – aren't effective at relieving a stuffy nose.  The FDA typically follows the advice of its advisory committees but it is not required to do so. The agency could potentially move to begin a process that removes phenylephrine from the market, which would force manufacturers to pull widely used cough and cold medications from store shelves and reformulate those products.  That could affect Procter ...

[ad_1] Thibaut Mongon, CEO of Kenvue Inc. a Johnson & Johnson's consumer-health business, speaks during an interview to celebrate its IPO at the New York Stock Exchange (NYSE), May 4, 2023. Brendan Mcdermid | Reuters Most consumers have pulled back on spending as inflation squeezes their wallets, but they have not stopped paying up for brand-name health and personal care products, Kenvue CEO Thibaut Mongon said. Mongon told CNBC on Thursday that consumers are still willing to spend on the company's branded products – even as they reduce discretionary spending at retail stores and trade down on some essential items by changing their usual purchase size or switching brands for lower prices.  The Johnson & Johnson consumer spinoff Kenvue beat second-quarter revenue and adjusted earnings estimates on Thursday, fueled by resilient demand for the company's wealth of widely known brands such as Band-Aid, Tylenol, Listerine, Neutrogena and Aveeno. Still, the co...

[ad_1] A closely watched talc trial in California goes against Johnson & Johnson (JNJ), adding uncertainty around whether tens of thousands of other plaintiffs suing the company will sign on to J & J's proposed $8.9 billion settlement offer or seek to get their own days in court. Jim Cramer believes the biopharmaceutical company was "too hopeful" about winning. "The plaintiff system is stacked against them," Jim said. Still, he added, "I believe J & J is a great American company, I believe they'll see through this. ... They need to be a bit more realistic about what they say." Jim's conversations with J & J's legal team led him to believe there could be a path to victory in what we think is a pivotal case . But on Tuesday, J & J was ordered to pay $18.8 million after jurors found in favor of 24-year-old Emory Hernandez Valadez who claimed in his lawsuit that he developed mesothelioma, a deadly cancer linked to asbes...

[ad_1] Send your questions directly to Jim Cramer and his team of analysts at investingclubmailbag@cnbc.com . Reminder, we can't offer personal investing advice. We will only consider more general questions about the investment process or stocks in the portfolio or related industries. Question 1: What are your thoughts on the stability of FORD's dividend? Thank you, Denise The quickest way to determine the sustainability of a company's dividend is to consider it in relation to earnings and/or cash flow. The dividend payout divided by the earnings number is referred to as the "payout ratio" — below 100% is generally considered sustainable (so long as it's positive). A negative number would imply negative earnings, which is obviously bad. A payout ratio above 100% would also be something to be concerned about because it means the company is paying out more than it makes and therefore eating into the cash on its balance sheet, an obviously unsustainable dyna...

[ad_1] Thibaut Mongon, CEO and Paul Ruh CFO of Kenvue Inc. a Johnson & Johnson's consumer-health business, pose together during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. Brendan McDermid | Reuters Johnson & Johnson on Thursday said its shareholders will soon be able to swap their shares for stock of Kenvue , which spun out as an independent consumer health company just two months ago. J&J owns nearly 90% of Kenvue shares and plans to reduce its stake through an exchange offer that could launch "as early as the coming days," depending on market conditions, J&J CFO Joseph Wolk said during the company's second-quarter earnings call.  That process, also known as a split-off, will allow J&J shareholders to exchange all or a portion of their shares for Kenvue's common stock. J&J did not provide further details on the planned offer. But Wolk said a split-off is the "most advanta...

[ad_1] Johnson & Johnson on Thursday reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations, and lifted its full-year guidance as sales from the company's medtech business jumped. The medtech division provides devices for surgeries, orthopedics and vision. The company is benefitting from a rebound in demand for non-urgent surgeries among older adults, who deferred those procedures during the pandemic. That increased demand has been observed by health insurers like UnitedHealth Group and Elevance Health . Here's how J&J results compared with Wall Street expectations, based on a survey of analysts by Refinitiv: Earnings per share: $2.80 adjusted, vs. $2.62 expected Revenue: $25.53 billion, vs. $24.63 billion expected Shares of J&J rose more than 5% in morning trading Thursday. The stock has dropped more than 5% for the year, putting the company's market value at roughly $436 billion.  J&J, whose financial...

[ad_1] Pavlo Gonchar | LightRocket | Getty Images Johnson & Johnson on Tuesday sued the Biden administration over Medicare's new powers to slash drug prices, making it the third pharmaceutical company to challenge the controversial provision of the Inflation Reduction Act .   The lawsuit filed in federal district court in New Jersey argues the Medicare negotiations violate the First and Fifth Amendments of the U.S. Constitution. Earlier suits brought separately by drugmakers Merck and Bristol Myers Squibb , as well as by the U.S. Chamber of Commerce and PhRMA , the pharmaceutical industry's largest lobbying group, made similar arguments. J&J's complaint asks a judge to block the U.S. Health and Human Services Department from compelling the drugmaker to participate in the program. The company said its suit aims to stop the "innovation-damaging congressional overreach that threatens the United States' primacy in developing transformative therapies...

[ad_1] Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. Earnings and inflation Watch J & J Strong outlook for Meta 1. Earnings and inflation U.S. stocks edged higher Monday, with the Dow jumping over 150 points, rallying after a tough week for the major Wall Street gauges. We're looking ahead to second-quarter earnings Friday, kicking off with financials like Club holding Wells Fargo (WFC). Consumer price index (CPI) data will be released Wednesday, which will give the market a better read on the inflation situation. Overall, there's a lot of uncertainty for the U.S. economy as inflation stays high and the Federal Reserve mulls over further monetary tightening in order to cool a resilient labor market. 2. Watch J & J We're watching for closing arguments in a talc lawsuit against Johnson & Johnson (JNJ) brought by a 24-year-old in California ...

[ad_1] Investors hoping to capture more upside from artificial intelligence could turn to a sector that's underperformed this year, and maybe not immediately associated with AI: Health care. A handful of large tech names surged in the first half thanks to a mania for all things tied to artificial intelligence. Apple, for example, last week closed with a $3 trillion market capitalization for the first time. Nvidia is up by nearly 200% in 2023. Going forward, some of those gains might spill over to health care, which has underperformed this year. The sector is the third weakest out of 11 in the S & P 500, down about 3% year to date. "A lot of people talk about AI-powered performance and how that's going to impact the tech sector. And I think that's well understood," said Jamie Cox, managing partner for Harris Financial Group. "But what a lot of people fail to appreciate is that artificial intelligence and quantum computing are actually going to have th...