International Flavors & Fragrances (IFF) shares plunge 5.46% on negative earnings forecast

International Flavors & Fragrances (IFF) shares plummeted 5.46% today, marking the fourth consecutive day of decline, with a total drop of 14.97% over the past four days. The stock price hit its lowest level since October 2023, experiencing an intraday decline of 6.87%.

One of the primary factors contributing to the recent decline in IFF's stock price is the negative earnings forecast issued by Zacks Research. This forecast has raised concerns among investors about the company's future financial performance, leading to a sell-off in the stock.

Additionally, there have been concerns raised about IFF's corporate strategy, with some analysts pointing to past acquisitions that have not yielded the expected returns. This has led to questions about the company's ability to execute its strategic vision and maintain its competitive edge in the market.

Furthermore, the ongoing strike by BCTGM Local 390G members in Memphis, Tenn., has added to the uncertainty surrounding IFF's operations. The strike, which has been ongoing for some time, has the potential to disrupt the company's supply chain and impact its ability to meet customer demand, further weighing on the stock price.