Advertisement
Canada markets closed

  • S&P/TSX

    22,290.62
    +31.15 (+0.14%)
     

  • S&P 500

    5,187.70
    +6.96 (+0.13%)
     

  • DOW

    38,884.26
    +31.99 (+0.08%)
     

  • CAD/USD

    0.7278
    -0.0009 (-0.12%)
     

  • CRUDE OIL

    78.24
    -0.14 (-0.18%)
     

  • Bitcoin CAD

    86,017.38
    -1,344.22 (-1.54%)
     

  • CMC Crypto 200

    1,297.77
    -67.35 (-4.93%)
     

  • GOLD FUTURES

    2,322.10
    -2.10 (-0.09%)
     

  • RUSSELL 2000

    2,064.65
    +3.97 (+0.19%)
     

  • 10-Yr Bond

    4.4630
    -0.0260 (-0.58%)
     

  • NASDAQ futures

    18,210.00
    +10.50 (+0.06%)
     

  • VOLATILITY

    13.23
    -0.26 (-1.93%)
     

  • FTSE

    8,313.67
    +100.18 (+1.22%)
     

  • NIKKEI 225

    38,413.38
    -421.72 (-1.09%)
     

  • CAD/EUR

    0.6770
    -0.0001 (-0.01%)
     

Kraft Surges Midday After Earnings Impress

Investing.com
Updated

Investing.com - Food company Kraft Heinz (NASDAQ:KHC) jumped in midday trade on Thursday as its sales and earnings beat estimates.

The company announced a $1.2 billion impairment charge in August and cut hundreds of jobs as it struggled to get back on track.

"We are making good progress in identifying and addressing the root causes of past performance, as well as setting our direction," said Chief Executive Miguel Patricio in a statement.

Kraft reported net income of $899 million or $0.74 per share, while adjusted EPS was $0.69, compared to Investing.com estimates of $0.54 EPS. Revenue was below forecasts, at $6.08 billion versus $6.13 billion projected.

ADVERTISEMENT

Shares of the company jumped 11.2% in midday trade.

Related Articles

Hong Kong unrest, stronger dollar weigh on Estee Lauder's FY forecast

European labor unions fret about jobs in Fiat Chrysler-PSA deal

FTC probes Altria for role in Juul executive changes