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Since its founding in 1806, Colgate-Palmolive has grown to become a leading player in the household and personal care arena. In addition to its namesake oral care line, the firm manufactures shampoos, shower gels, deodorants, and homecare products that are sold in over 200 countries. International sales account for about 70% of its total business, including approximately 45% from emerging regions. It also owns specialty pet food maker Hill's, which primarily sells its products through veterinarians and specialty pet retailers.

Unilever plc is a leading international consumer goods company and one of the largest providers of personal care products. Leading brands include Dove, Lifebuoy, Hellman's, Knorr, and Ben & Jerry's. The company is based in the U.K. and has approximately 128,000 employees worldwide.

We raised our intermediate-term technical assessment to bullish from neutral on May 7. In a the three days prior, the S&P 500 (SPX) had popped 3.2%, the Nasdaq ripped higher by 4.8%, and the Nasdaq 100 (QQQ) jumped 4.4%. That is the largest three-day gain since mid-November for the SPX and since early November for the Nasdaq and the QQQ. The price action coincides with the beginning of the last rally following the late-October pullback low.

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.