Kraft Heinz Swings to Loss and Discloses SEC Probe; Shares Plunge

Discussion in 'Wall St. News' started by ajacobson, Feb 22, 2019.

  1. ajacobson

    ajacobson

    Stockolio likes this.
  2. ajacobson

    ajacobson

  3. Just seen it! This is crazy, they are gonna get downgraded to -bbb very shortly and if story gets deeper, then junk

    Screenshot_2019-02-22 A $1 Trillion Powder Keg Threatens the Corporate Bond Market.png
     
  4. tsznecki

    tsznecki

    Really? If a company's debt gets continuously downgraded it becomes junk? Who knew?

    WOW. You must be the first person to realize this!
     
  5. dealmaker

    dealmaker

    Kraft Heinz

    Kraft Heinz's shares lost a fifth of their value after the company revealed a quadruple-whammy of bad news: it's being investigated by the SEC over accounting issues; it's had to write down the value of the Kraft and Oscar Mayer brands by $15 billion; it's posted a $12.6 billion loss; and its dividend is now 36% lighter. Seems the 2015 merger did not provide the anticipated efficiencies. Fortune