NEW YORK, Feb 5, 2026, 18:59 ET — Trading in after-hours.
- Kenvue shares edged up 0.2% in late trading. The company announced it will report earnings on Feb. 17 but confirmed there won’t be a call to discuss the results.
- Investors are eyeing the narrow spread between KVUE’s current price and the implied value in Kimberly-Clark’s offer
- Attention now turns to the February 17 results release and any clues about changes in deal timing
Kenvue Inc. shares ticked up 0.2% to $18.07 in after-hours trading Thursday. The consumer health firm announced it will release its fourth-quarter and full-year results on Feb. 17. It also said there won’t be an earnings call, citing its pending Kimberly-Clark deal. (Kenvue)
This matters because the results release might be among the final formal updates investors receive from Kenvue as an independent entity. Foregoing the call removes a key opportunity for executives to face questions on demand trends, pricing, and shifts within the business.
The stock is moving more like an event-driven play than a typical consumer staples name. Much of the price action hinges on if and when the Kimberly-Clark deal will close, along with the final terms.
Kimberly-Clark shares climbed roughly 1% on Thursday, last seen at $104.26. The offer of $3.50 cash plus 0.14625 Kimberly-Clark shares per Kenvue share values Kenvue around $18.75, about 4% shy of the current implied offer price for KVUE.
The gap, called the merger-arbitrage spread, reflects traders’ bets on closing risk and timing. When the spread widens, it usually points to greater uncertainty around approvals or investors factoring in more time decay as they hold on.
The companies anticipate closing the transaction in the second half of 2026, pending regulatory approvals and typical conditions. Kenvue CEO Kirk Perry, following shareholder approval, expressed confidence in the growth potential for the combined company. (Kenvue)
The spread can still swing sharply. Delays in antitrust approvals, changes in financing conditions, or new legal challenges might push the discount wider — especially since Kenvue faces ongoing litigation risks tied to products like Tylenol and talc-based baby powder. Proxy advisers have highlighted these issues as a major concern for investors. (Reuters)
Thursday’s trading seemed more about positioning than strong conviction, with the stock staying within a narrow range despite heavy volume. Prices fluctuated between $17.83 and $18.21 throughout the session.
Regular trading has wrapped up, leaving the spotlight on Feb. 17. That’s when Kenvue will release its fourth-quarter and full-year results after the market closes—this time, without the usual Q&A session to guide investors on the next steps.
