The $15.4 billion impairment by Kraft Heinz wasn’t just one of the largest in corporate history. It also was unusual in how the write-down of its Kraft natural cheese business, Oscar Mayer cold cuts business and Canada retail business was carried out.
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Kraft Heinz shares tank 20 percent after SEC probe and $15 billion write-downShares in Kraft Heinz are expected to plunge when markets open Friday, after the consumer goods company said it was being investigated by U.S. regulators and it reported a massive loss.
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Kraft Heinz earnings reveal SEC investigation and massive write-offs, stock plunges
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Kraft Heinz shares tank after write down of two iconic brands, slashed dividend and SEC subpoenaKraft Heinz shares cratered yesterday after the company disclosed it has received a subpoena from the SEC. Warren Buffett’s Berkshire Hathaway lost more than $4 billion in a single day on the plunge. So, what went wrong with Kraft Heinz?
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Kraft Heinz loses a lot of cheese as earnings send stock plunging toward record lowKraft Heinz Inc. shares headed toward record lows in after-hours trading Thursday, after the giant food conglomerate delivered bad news with no condiments to sweeten it.
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Kraft Heinz is desperate for a fresh varietyAn earnings miss, a $15 bln writedown and an SEC subpoena sent the ketchup maker’s stock plunging over 20 pct after hours Thursday. It’s a sign CEO Bernardo Hees’s cost-cutting strategy has hit a dead end. Owners 3G and Berkshire Hathaway need to find a new recipe for growth.
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