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☆ Texas just raised the price of bottled water in prisons by 50% amid one of the state's most extreme heat waves yet
▼ + stars: | 2023-07-30 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +3 min

The Texas Department of Criminal Justice raised the price of bottled water for incarcerated people by 50%. This further limits access to water, as the tap water is often "simply filthy," one prison reform advocate told KVUE. Amid this punishing heat — which is even still milder than last year, during which at least 306 people died of heat-related illness in Texas — the Texas Department of Criminal Justice has raised the price of bottled water available in prisons by 50%, local outlet KVUE reports. Prison reform advocate Amite Dominick told KVUE that adds financial pressure on families where the breadwinner is incarcerated. The Texas Department of Criminal Justice did not immediately respond to Insider's request for comment about water quality in state prisons.

Persons: KVUE, Amite Dominick, Chivas Watson Organizations: Texas Department, Criminal, Service, Texas Tribune, The Texas Department Locations: , Texas, Texas, El Paso , Texas, McAllen , Texas

☆ J&J starts share exchange offer for consumer health spin-off Kenvue
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 29, 2019. REUTERS/Brendan McDermid/File PhotoJuly 24 (Reuters) - Johnson & Johnson (JNJ.N) said on Monday it had launched an exchange offer under which its stockholders can opt for shares of Kenvue <KVUE.N>, its newly listed consumer health unit. The exchange will allow J&J shareholders to exchange their shares for those of Kenvue at a 7% discount, subject to conditions. Kenvue, which debuted on the New York Stock Exchange in May, has a market capitalization of about $46 billion. ‍Goldman Sachs and J.P. Morgan Securities are serving as dealer managers for the offering, J&J said.

Persons: Johnson, Brendan McDermid, ‍ Goldman Sachs, J.P, J, Bhanvi, Shounak Dasgupta, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Johnson, Morgan Securities, Thomson Locations: New York, U.S, Kenvue, Bengaluru

☆ Ford's dividend quality, J&J's split-off, cost basis discipline — what we think about all these
▼ + stars: | 2023-07-21 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

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). First, earnings fluctuate and therefore so does the payout ratio (assuming a non-variable dividend payment). That's because all the numbers are positive in the "adjusted EPS payout ratio" line (2021 and 2022 actual results and 2023 and 2024 estimated results) and each of them is below 100%. As you stated, our discipline is to not violate our cost basis and we stick to that as much as possible.

Persons: Jim Cramer, Denise The, it's, Johnson, Larry, Jim, Denise Organizations: investingclubmailbag, Ford, Kenvue, Johnson, Nvidia, CNBC Locations: FactSet, IOUs, JNJ

☆ Here's what Jim Cramer thinks about J&J stock after a pivotal talc case verdict
▼ + stars: | 2023-07-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

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 asbestos, from exposure to J & J talc products. J & J has said that over 60,000 claimants support its latest $8.9 billion settlement to be paid out over 25 years. Johnson & Johnson issued an official statement following the verdict in favor of Valdez, intending to appeal. Even so, J & J got a few of price target increases on Wall Street on Friday. The higher growth pharmaceuticals and medical technology businesses are remaining as the new J & J.

Persons: Johnson, J's, Jim Cramer, Jim, J, Emory Hernandez Valadez, we're, there's, Moshe Maimon, Levy, Maimon, Michael Kaplan, Kaplan, Erik Haas, Thursday's, Haas, Jim Cramer's, Justin Sullivan Organizations: Johnson, LTL Management, J, Credit Suisse, AAA, CNBC, & ' $, & $ Locations: California, American, Levy Konigsberg, Valdez, Stifel, Kenvue, San Anselmo , California

☆ J&J expects cancer drugs, medical devices to drive growth in 2023
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

Shares of J&J, which recently spun off its consumer health unit to focus on drugs and medical devices, rose over 1% in premarket trading. The company expects sales at its pharmaceutical unit to grow more in the second half of 2023, compared with the first half. Quarterly sales of its multiple myeloma drug, Darzalex, were $2.43 billion, in line with Wall Street estimates, according to Refinitiv. Second-quarter sales for its medical device unit were $7.79 billion, topping estimates of $7.55 billion. J&J said it now expects adjusted 2023 profit of $10.70 to $10.80 per share, above estimates of $10.65 per share and its prior forecast of $10.60 to $10.70 per share.

Persons: Johnson, Stelara, J, J's, Bhanvi, Anil D'Silva Organizations: Johnson, Wall, Thomson Locations: Kenvue, Bengaluru

☆ J&J's strong quarter was amplified by new details around its big Kenvue consumer unit stake
▼ + stars: | 2023-07-20 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

Johnson & Johnson (JNJ) reported strong second - quarter profit and revenue before the opening bell Thursday, with better-than-expected results both domestically and internationally, as well as across all major operating segments. It's possible that J & J management will offer up Kenvue shares at a discount to market value. Regardless, arbitrage isn't our game and we want to be invested in J & J for the long term. The only change — since J & J owns 89.6% of Kenvue — is that 10.4% of earnings generated since Kevnue went public in early May to the end of the quarter are no longer attributed to J & J. A Johnson & Johnson building is shown in Irvine, California.

Persons: Johnson, —, Kevnue, J, J's, prioritization, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Dow, Pharmaceutical, Management, J's, Johnson, J, Consumer, Consumer Health, Pharmaceutical Pharmaceutical, CNBC, & $ Locations: Kenvue, JNJ, KVUE, Spravato, Irvine , California

☆ J&J-spinoff Kenvue forecasts upbeat annual profit on strong self-care demand
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

Companies Kenvue Inc FollowNeutrogena Corporation FollowHaleon Plc Follow Show more companiesJuly 20 (Reuters) - Kenvue (KVUE.N), the former consumer health unit of Johnson & Johnson (JNJ.N), forecast full-year profit above Wall Street estimates on Thursday, betting on resilient demand for its skincare and self-care products such as Neutrogena and Tylenol. Kenvue, in its first results after being spun off from Johnson & Johnson in May, forecast full-year adjusted profit per share between $1.26 and $1.31. However, adjusted gross profit margin came in at 57.5%, compared to 59.3% a year earlier, dragged by a strong dollar and higher costs. Meanwhile, J&J raised its 2023 profit forecast on Thursday, banking on the strength in its medical devices business and demand for its cancer drugs such as Darzalex. Net sales rose 5.4% to $4.01 billion while adjusted profit per share came in at 32 cents.

Persons: Johnson, Haleon, J, Ananya Mariam Rajesh, Raghav, Devika Syamnath Organizations: Johnson, Wall, Thomson Locations: Bengaluru

☆ Israel's Oddity seeks higher valuation in US IPO
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

July 17 (Reuters) - Oddity Tech said on Monday it was targeting a valuation of $1.92 billion in its U.S. initial public offering (IPO), more than 13% higher than what it was previously seeking. Over 10.5 million shares priced between $32 and $34 each will be offered, Oddity said. At the top end of the new range, the IPO would fetch around $358 million for Oddity and its existing investors who are cashing out some of their stake. It was previously expected to rake in around $316 million. Up to 2% of the shares being sold will be offered to retail investors via brokerage firm SoFi Technologies (SOFI.O), Oddity said.

Persons: Tech, Oddity's, Johnson, Niket, Shinjini Organizations: Federal Reserve, SoFi Technologies, Thomson Locations: Bengaluru

☆ Israel's Oddity Tech seeks up to $1.7 bln valuation in U.S. IPO
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

July 10 (Reuters) - Israel-based Oddity Tech will seek a valuation of up to $1.7 billion in its U.S. initial public offering (IPO), the beauty and wellness products company said on Monday. The company is aiming to price its shares between $27 and $30 each to raise up to $315.8 million. Oddity, which owns the IL MAKIAGE and SpoiledChild brands, is seeking to list on the Nasdaq under the symbol "ODD." Goldman Sachs, Morgan Stanley and Allen & Co are the lead underwriters, Oddity said. Reporting by Niket Nishant in Bengaluru; Editing by Sriraj Kalluvila and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Johnson, Goldman Sachs, Morgan Stanley, Niket, Sriraj Kalluvila, Arun Koyyur Organizations: Tech, Nasdaq, Allen, Thomson Locations: Israel, Bengaluru

[1/3] Mark Walsh, CEO of Savers Value Village, celebrates his company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermidJune 29 (Reuters) - Thrift store operator Savers Value Village (SVV.N) fetched a market capitalization of nearly $4 billion in a strong debut on the New York Stock Exchange on Thursday, underscoring a resurgence in the IPO market as investors lap up new listings. Savers Value, owned by private equity firm Ares Management (ARES.N), joins a host of companies that have enjoyed a warm reception in recent months, reviving hopes the frosty IPO market has begun to thaw. So really this (an IPO) was the right smart option for us to move forward," said Savers Value CEO Mark Walsh. Savers Value and Ares raised over $401 million in the share sale on Wednesday.

Persons: Mark Walsh, Brendan McDermid, Avery Spear, Johnson, Ares, Niket Nishant, Sri Hari, Echo Wang, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Ares Management, U.S, U.S . Federal, Renaissance, Rivian, Kodiak Gas Services, Fidelis Insurance Holdings, Canada's Healthcare, Ontario, Norway's Norges Bank Investment Management, Thomson Locations: New York City, U.S, U.S ., Sri, Bengaluru, Echo, New York

NEW YORK, June 20 (Reuters) - Savers Value Village (SVV.N) said on Tuesday it aims to raise up to nearly $320 million for an initial public offering that would value the U.S. thrift store operator at about $2.7 billion. Savers Value Village, owned by private equity firm Ares Management Corp (ARES.N), plans to sell up to 18.8 million shares at $15 to $17 apiece, regulatory filings showed. Based in Bellevue, Washington, Savers Value Village is one of the largest retailers of secondhand clothing, books, toys, shoes and household goods, with 317 stores in the United States and Canada. Revenue totaled $1.44 billion in 2022, up 19% from the prior year, while net income was flat at $84.7 million. Ares Management will retain an 88% stake in Savers Value Village after the IPO.

Persons: Morgan, Jefferies, Goldman Sachs, Chibuike Oguh, Lance Tupper, Richard Chang Organizations: YORK, Energy, Kodiak Gas Services, reinsurer Fidelis Insurance Holdings, Ares Management Corp, Revenue, Management, Canada's, Norges, Investment Management, J.P, UBS, underwriters, New York Stock Exchange, Thomson Locations: Cava, Bellevue , Washington, United States, Canada, Canada's Ontario, New York

☆ Kodiak Gas Services aims for $1.65 billion valuation in US IPO
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Kodiak Gas Services said on Tuesday it is aiming for a valuation of about $1.65 billion in its U.S. listing, expecting to benefit from returning investor appetite for new offerings. The company is looking to sell 16 million shares in its initial public offering priced between $19 and $22 apiece. Last week, Mediterranean restaurant chain Cava Group (CAVA.N) saw its valuation nearly double after its shares surged in a stellar market debut. In May, Johnson & Johnson's (JNJ.N) consumer health business, Kenvue (KVUE.N), managed to complete the largest IPO since Rivian Automotive (RIVN.O) listed in 2021. Kodiak Gas Services said it is looking to list its shares on the New York Stock Exchange under the ticker symbol "KGS".

Persons: Johnson, Goldman Sachs, Morgan, Manya Saini, Shinjini Organizations: Kodiak Gas Services, Rivian, New York Stock Exchange, Goldman Sachs & Co, underwriters, Thomson Locations: United States, Ukraine, Cava, Bengaluru

June 15 (Reuters) - Mediterranean restaurant chain Cava Group (CAVA.N) notched a valuation of $4.7 billion in a stellar market debut on Thursday, signaling the IPO market was gaining momentum after a lull in 2022. Shares opened at $42 apiece on the NYSE, nearly double the IPO price of $22, last up 89%. Cava sold about 14.4 million shares in the offering, raising $318 million. “We think the markets are always welcoming long-term sustainable growth stories, especially category defining brands, as we try and define the Mediterranean category,” Cava Co-founder and CEO Brett Schulman said. Cava was founded by three friends with Greek roots — Ted Xenohristos, Ike Grigoropoulos and Dimitri Moshovitis — and opened its first restaurant Cava Mezze in Rockville in 2006.

Persons: Cava, Matthew Kennedy, Johnson, Brett Schulman, Ted Xenohristos, Ike Grigoropoulos, Dimitri Moshovitis —, Morgan, Jefferies, Manya Saini, Savyata Mishra, Echo Wang, Vinay Dwivedi Organizations: NYSE, Renaissance Capital, Reuters, Rivian, ”, Restaurant Brands, Cava, Citigroup, Thomson Locations: Cava, CAVA, United States, ” Cava, Rockville, Bengaluru, Echo, New York

☆ A 'string of successes' fueling the IPO market, and the ETF that tracks it
▼ + stars: | 2023-06-14 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +2 min

"We do see a light at the end of the tunnel," Matt Kennedy, Senior IPO Market Strategist for Renaissance Capital, told CNBC's Bob Pisani on "ETF Edge" on Monday. Kennedy's firm runs the Renaissance Capital IPO ETF (IPO), which tracks the performance of newly public company stocks. According to Renaissance Capital, holdings in the IPO ETF cycle out three years after being listed on the market. The 10-year average of capital raised for new initial public offerings is $55 billion, but only $7.7 billion was raised last year, according to Renaissance Capital. Nearly the same amount has already been raised so far this year ($7.3 billion), fueling anticipation that the market is finally getting back on track.

Persons: Matt Kennedy, CNBC's Bob Pisani, Kennedy, They're Organizations: Renaissance Capital, Capital, Renaissance, ARM, Foods Locations: Snowflake, Airbnb, Cava, U.S, Fogo de Chao, Klarna

☆ Restaurant chain Cava raises IPO valuation target to $2.23 bln
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - Cava Group Inc, which operates a chain of Mediterranean fast-casual restaurants in the United States, said on Monday that it is now aiming for a valuation of up to $2.23 billion in its U.S. initial public offering. Cava now intends to sell roughly 14.44 mln shares to raise $289 million based on the top end of the new proposed range, up from $274.4 million last week. The company is expected to debut on the New York Stock Exchange under the symbol "CAVA" on Thursday. Cava logged a net loss of $59 million in fiscal 2022 compared to $37.4 million in the prior year. Reporting by Manya Saini and Savyata Mishra in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Manya Saini, Savyata Mishra, Shailesh Organizations: Inc, New York Stock Exchange, Cava, Thomson Locations: Cava, United States, Bengaluru

Eli Lilly also is expected to present data on another weight-loss drug called orforglipron, which patients take orally instead of through an injection. Retatrutide, Mounjaro and weight-loss drug Wegovy, produced by rival Novo Nordisk (NVO), are all injectable. But if the data were to fall short of expectations, the analysts don't foresee much downside to J & J shares. However, with JNJ-2113, Morgan Stanley noted that J & J management has touted its efficacy profile "without the baggage of a JAK label." J & J has consistently denied those accusations.

Persons: Eli Lilly, Johnson, Morgan Stanley —, Eli Lilly Eli Lilly, Morgan Stanley, Eli Lilly's Mounjaro, Mounjaro, Lilly's, retatrutide, hasn't, haven't, Jim Cramer's, Jim Cramer, Jim, AJ Mast Organizations: American Diabetes Association, Novo Nordisk, U.S . Food, Drug Administration, Pfizer, Novo Nordisk's, Johnson, American Academy of Dermatology, topline, J's, LTL Management, CNBC, Bloomberg, Getty, & ' $ Locations: U.S, Novo, Indianapolis , Indiana

Rubrik may raise more than $750 million in its IPO, three of the sources added, though that may change based on market conditions as the preparations are still at an early stage. Rubrik currently generates annual recurring revenue of about $600 million, one of the sources said. Three of the sources said Rubrik could choose to go public in 2024, if the IPO market becomes more welcoming. Founded in 2014 by venture capitalist Bipul Sinha, Rubrik makes cloud-based ransomware protection and data-backup software. SoftBank-backed Cohesity Inc, which competes with Rubrik, is also preparing to go public, having filed confidentially for an IPO in late 2021, Reuters reported.

Persons: Goldman Sachs, Rubrik, Bipul Sinha, Johnson, Echo Wang, Milana Vinn, Krystal Hu, Matthew Lewis Organizations: YORK, Microsoft Corp, Barclays Plc, Citigroup Inc, Barclays, Citi, Nvidia Corp, Depot Inc, Bain Capital Ventures, Lightspeed Venture Partners, Kenvue Inc, Johnson, SoftBank Group Corp, Inc, Reuters, Cohesity Inc, Thomson Locations: U.S, Palo Alto , California, ., New York

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Ford, Wayfair, Coinbase, Disney, PayPal & more
▼ + stars: | 2023-05-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Barclays reiterates Tesla as overweight Barclays said the stock is well positioned for more gains. "The dominant narrative ahead for Tesla is one of growth, with expectations for significant volume growth and share gains in the years ahead." Roth MKM upgrades Constellation Brands to buy from hold Roth MKM said it sees the company accelerating market share gains. "As weather warms, we expect the share gains for Modelo Especial and Corona to accelerate. Morgan Stanley upgrades Medtronic to overweight from equal weight Morgan Stanley said in its upgrade of Medtronic that it's turning an operational corner. "

☆ Nvidia's ascent continues unabated, while Citi says buy J&J
▼ + stars: | 2023-05-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

Optimism for J & J, Kenvue The news : Investors should buy shares of Johnson & Johnson for its "world-leading medical technology and pharmaceutical franchises," Citigroup analysts wrote in a research note Tuesday. The firm, after a period of restriction, resumed its J & J coverage with a buy rating and $185-per-share price target. Jim said Tuesday he could see J & J jumping to around $170 per share, if plaintiffs were to approve the company's proposed settlement . J & J has long rejected plaintiffs' claims that its baby powder and other talc products caused cancer. In any case, we like Kevnue as a standalone company and will keep a close eye on its performance as we await more information from J & J management on finalizing the divestiture.

Organizations: & $

Kenvue is well-positioned for accelerated growth following its separation from parent company Johnson & Johnson, according to JPMorgan. Following its spinoff earlier in May, Kenvue is the largest pure-play consumer health company in the world. The company holds commonly-known brands such as Neutrogena, Tylenol, Aveeno and Zyrtec — amounting to 10 brands with sales greater than $400 million. "We view KVUE as uniquely positioned to benefit from consumer mega trends (self-care, aging)." JPMorgan thinks Kenvue is still trading at an attractive valuation despite jumping since its May 3 IPO, which was priced at $22 per share.

☆ A Texas House committee accused Ken Paxton of some serious misconduct. Now it wants the Trump-backed attorney general impeached.
▼ + stars: | 2023-05-27 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +5 min

Texas Attorney General Ken Paxton could soon be out of a job after being accused of several crimes. The Texas House will vote on an impeachment resolution on Saturday. Olivia Julianna, a Texas-based activist and political strategist who Paxton once blocked on Twitter, told Insider that in Texas "Ken Paxton and crooked are synonymous." Texas House Speaker Dade Phelan was vocally opposed, calling it an improper use of taxpayer dollars. Phelan then helped lead a House Investigation into the allegations against Paxton due to the funding request, a spokesperson told The New York Times.

☆ Johnson & Johnson's consumer health unit Kenvue started trading. What it means for J&J shareholders like us
▼ + stars: | 2023-05-05 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

For now, it's not exactly clear how J & J will go about the second step of this divestiture. In this scenario, we would have the option to relinquish some, all or none of our J & J shares. In fact, our optimism around the breakup was a big reason we bought into J & J nearly a year ago . J & J continues to argue against claims that its baby powder and other talc products caused cancer lack merit. "Look at it as a whole company today, knowing that [roughly] 10% doesn't belong to J & J," explained Cantor Fitzgerald analyst Louise Chen, who has a buy rating and maintains a $215 price target on J & J.

☆ Biopharma firm Acelyrin valued at $2.1 billion in strong market debut
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Shares of Acelyrin Inc (SLRN.O) rose 28% in their Nasdaq debut on Friday, giving the biopharma company a market capitalization of $2.1 billion. The Los Angeles-based company, which had priced its shares at $18 apiece, raised $540 million by selling 30 million shares in an upsized offering on Thursday. Acelyrin joins a spate of new listings recently that have fueled hopes of a recovery in IPO markets. On Thursday, Johnson & Johnson Inc's (JNJ.N) consumer health business Kenvue Inc (KVUE.N) went public, becoming the largest public offering since Rivian Automotive Inc (RIVN.O) in 2021. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ J&J's Kenvue eyes $47 billion valuation in biggest US IPO since 2021
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] The company logo for Kenvue Inc. Johnson & Johnson's consumer-health business, is displayed on a screen during the company's IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. REUTERS/Brendan McDermidMay 4 (Reuters) - Johnson & Johnson's (JNJ.N) consumer health unit Kenvue Inc (KVUE.N) was set to fetch a valuation of about $47 billion on Thursday, in what would be the biggest U.S. initial public offering since late 2021. Shares, priced at $22 apiece by Kenvue, were indicated to open nearly 14% above their offer price on the New York Stock Exchange. While the Kenvue deal is the largest IPO to launch since electric-vehicle maker Rivian Automotive Inc (RIVN.O) listed its shares on the Nasdaq in late 2021, deal advisers have warned that equity capital markets may not recover in a meaningful way any time soon. Reporting by Manya Saini and Bhanvi Satija in Bengaluru; Editing by Shounak Dasgupta and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ J&J's consumer health spinoff Kenvue opens at $25.53, a 16% jump, in public market debut
▼ + stars: | 2023-05-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

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. Johnson & Johnson 's consumer health spinoff Kenvue jumped 16% in its market debut on the New York Stock Exchange Thursday, marking the biggest U.S. IPO in more than a year. Kenvue sold 172.8 million shares in an upsized deal that raised about $3.8 billion and valued the company at roughly $41 billion. "Millions of consumers around the world this morning wake up with a Kenvue product in their home," CEO Thibaut Mongon, told CNBC's "Squawk on the Street" Thursday morning ahead of the stock's debut. Mongon previously served as J&J's executive vice president and worldwide chair of consumer health.

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