Discuss the implications of Kraft Heinz's missed EPS and sales growth.
Kraft Heinz Plunges on $15.4 Billion Writedown
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The transcript discusses a negative financial report for Kraft Heinz, highlighting significant write downs, missed earnings per share (EPS), and higher than expected costs. Additionally, the company faces an SEC subpoena regarding procurement practices. Investor confidence is shaken, with shares expected to hit a record low. Historical context includes the failed Unilever deal and substantial market value loss, with Warren Buffett as a major stakeholder.
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What impact did the SEC subpoena have on Kraft Heinz's situation?
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