Buffett's Kraft Heinz Bet Marks a Rare Flop as Company Weighs Breakup
Kraft Heinz shares are down more than 60% — while the broader stock market soared — since Buffett's Berkshire Hathaway Inc. teamed up with private equity firm 3G Capital to merge the two consumer companies. Berkshire's roughly 27% stake in the company is worth about $4.5 billion less than where it's marked on its books, and getting out now would bring even more pain.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Warner Bros. earnings, Fed talk, jobless claims: What to Watch
Asking for a Trend host Josh Lipton takes a look at the top stories for investors to watch on Thursday, Aug. 7. In the morning, Eli Lilly (LLY), Toyota (TM), ConocoPhillips (COP), Constellation Energy (CEG), and Warner Bros. Discovery (WBD) will report earnings. In the afternoon, Take-Two (TTWO) will report results. Atlanta Federal Reserve President Raphael Bostic will deliver remarks. Initial jobless claims data for the week ending Aug. 2 will be posted in the morning. Economists are expecting an uptick from the previous reporting period. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Time now for what to watch Thursday, August 7th, starting off on the earnings front. No rest for the weary this earnings season. We'll be getting some more reports on Thursday. It's going to include Eli Lilly, Toyota and Take Two Interactive. Eli Lilly announced the results for the second quarter before the markets open. Obesity drugs will remain in focus for Eli Lilly and new drugs in the pipeline. It's coming against the backdrop of President Trump's looming tariffs on the pharma industry, and also saying the company's full year financial guidance could also be raised barring any major surprises in the quarter. And turning to the Federal Reserve, Atlanta Fed President Rafael Bostic is speaking on Thursday. This is coming after continuing commentary from President Trump around a potential successor for Fed Chair Jerome Powell. Trump saying on Tuesday that the list is down to four people, but that Treasury Secretary Scott Bessette will not be nominated for that role. And finally, we're going to be getting some fresh jobs data on Thursday with weekly initial jobless claims, economists forecasting claims to tick up to 222,000, signaling what could be more softening in the labor market.
Yahoo
21 minutes ago
- Yahoo
DHL moves early to renew Cargojet contract until 2033
Canadian airline Cargojet has extended its long-term transport agreement with integrated carrier DHL Express until March 31, 2033, and reduced DHL's potential ownership stake in the company from 9.5% to 6.6% in exchange for renewing the deal two years before it expired, the companies announced Wednesday. The revised freight services contract is projected to deliver $2.3 billion in revenue for Cargojet. DHL has the right to extend the agreement two times for two-year terms, potentially stretching the deal until March 2037. Cargojet was scheduled to release second-quarter results Wednesday after the stock market closed, but had not done so as of 7 p.m. ET. In early July, Cargojet extended its contract with Amazon for four years. The contract now runs until March 31, 2029. Cargojet began flying in DHL's express package network in 2005. It now provides bundled lease packages that include aircraft, crews and mechanics to fly freight; crew and maintenance in cases where DHL provides its own freighter aircraft; and charter service for short-term capacity needs. Cargojet has a fleet of more than 40 Boeing 767 and 757 freighters. Some of DHL's volume moves in Cargojet's domestic Canadian overnight network in which capacity is shared by various customers. Cargojet's current contract with DHL was signed in March 2022 and was scheduled to run five years. The companies cemented their partnership with the issuance of warrants giving DHL 9.5% of Cargojet shares after a seven-year vesting period. Under the expanded partnership, DHL will continue to guarantee a minimum amount of paid flight hours per month and give Cargojet preference to fly additional routes as it adjusts its global network to meet shipping demand. Cargojet will also terminate the warrants to acquire more than 1.6 million voting shares and instead issue warrants giving DHL the right to acquire 1 million shares at a price of $67.90 per share over a period of eight years, with vesting tied to DHL delivering up to $3.2 billion in business volume during the period. Click here for more FreightWaves/American Shipper stories by Eric Kulisch. Write to Eric Kulisch at ekulisch@ RELATED STORIES: New US de minimis policy could trim DHL profit by 3% Rise in China e-commerce traffic lifts Cargojet to record revenue The post DHL moves early to renew Cargojet contract until 2033 appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
Japan urges US to swiftly implement auto tariff cut
TOKYO (Reuters) -Japan's top trade negotiator Ryosei Akazawa requested that the U.S. swiftly implement measures agreed upon in a bilateral trade deal, including lowering automobile and auto parts tariffs, Japan's government said on Thursday. The request was made during Akazawa's 90-minute meeting with U.S. Secretary of Commerce Howard Lutnick in Washington on Wednesday, Japan's government said in a statement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
