Kraft Heinz Stock Slips After Mixed Results, Downbeat Forecast
Kraft Heinz(KHC) Schaeffers Research·2024-02-15 00:01
Kraft Heinz Co (NASDAQ:KHC) stock is headed for its worst day since January 2023, down 5.3% at $34.22 at last glance. The food and beverage giant posted mixed fourth-quarter results, missing revenue expectations while earnings came in slightly better than anticipated, and a disappointing annual sales forecast. Inflation appears to be pinching demand, as customers look for deals elsewhere. Today's negative price action has KHC breaking below its 80-day moving average for the first time since November, as wel ...