5 Stocks Tumbling Today

3. Colgate-Palmolive Company (NYSE:CL) has slipped 5.20% as of 10:36 AM ET after CEO Noel Wallace admitted that the company’s profitability was adversely impacted by a significant rise in the cost of raw materials and logistics globally. Moreover, Colgate-Palmolive Company (NYSE:CL) missed the EPS estimates by one cent for Q1 2022. Even though Colgate-Palmolive Company (NYSE:CL) raised its forecast for net sales to the higher end of its prior guidance,  investors appear to be concerned about the rising costs eating away at the gross and net margins.

As of Q4 2021, Colgate-Palmolive Company (NYSE:CL) was held by 48 hedge funds.