J&J spinoff Kenvue stock loses ground as profit drops

Kenvue Inc.’s stock KVUE, -0.39% fell by 3.2% in premarket trading on Thursday after the household products spin-off of Johnson & Johnson JNJ, -0.05% reported lower fourth-quarter profit and said its 2024 earnings would fall short of the FactSet consensus estimate. It also missed its revenue target for the fourth quarter. Kenvue said its net income for the three months ended Dec. 31 fell to $327 million, or 17 cents a share, from $361 million, or 21 cents a share, in the year-ago quarter. Adjusted fourth-q ...