Inside the White House with D.C.'s most wired reporter. Sign up for Mike Allen's Axios AM.


Kraft Heinz stock implodes on gruesome earnings

Kraft and Heinz products.
Kraft and Heinz products. Photo: Scott Olson/Getty Images

Kraft Heinz’s stock plunged Thursday evening, falling nearly 20% in after-hours trade after the food and beverage giant released a dreadful earnings report, reports Bloomberg.

Details: The company revealed an SEC investigation into its procurement practices; wrote its assets down by some $15 billion; cut its dividend by more than 35%; and announced a loss of more than $14 billion in the fourth quarter.

More stories loading.