Cincinnati, Ohio – Procter & Gamble (P&G) faced a setback in its financial performance due to declines in sales of beauty products and diapers. The consumer products giant reported a fourth-quarter revenue of $20.53 billion, missing analyst estimates of $20.75 billion. While adjusted earnings per share exceeded forecasts at $1.40, the company witnessed a 1% decrease in beauty division sales to $3.72 billion and a 3% dip in Baby, Feminine & Family Care unit sales to $5.01 billion.

Chief Financial Officer Andre Schulten highlighted challenges faced by P&G in innovating its Luvs diaper brand due to supply-chain constraints. Consequently, P&G’s shares plummeted by nearly 6% during early-afternoon trading, reflecting investor concerns over the company’s sales performance.

Moving to another sector, CrowdStrike, a cybersecurity firm, experienced a sharp decline in its shares after reports that Delta Air Lines has engaged prominent attorney David Boies in seeking potential damages from the company and Microsoft. The global IT outage on July 19, triggered by a defective CrowdStrike software update, led to numerous flight cancellations and delays worldwide, with Delta being the most severely affected among major airlines.

Meanwhile, Arm Holdings, a chip design giant, saw its shares drop by 4% in early trading following a downgrade by HSBC. As the company prepares to report earnings on Wednesday, its stock price has seen a decline exceeding a quarter of its value since reaching a record high on July 10. Despite the downturn, trading volume remained relatively light, indicating that the stock price movement could be a short-term pullback rather than a long-term reversal.

In the futures market, Dow Jones Industrial Average futures were down 0.1%, while S&P 500 futures showed a 0.2% increase, and Nasdaq 100 futures were up by 0.3%, reflecting mixed sentiment among investors towards the market outlook. Investors will continue to monitor these developments closely as they navigate the ever-changing financial landscape.