Well, let's not ignore it...KHC down 27% TODAY

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On February 21. 2019, Kraft announced discouraging quarterly results, including a $15 billion charge related to the value of its marquee Kraft and Oscar Mayer trademarks, and said cut its dividend from 63 cents per share to 40 cents per share. The company's chief financial officer said he expected the Kraft to "take a step backwards in 2019." Kraft also revealed that it had received a subpoena from the U.S. Securities and Exchange Commission regarding its accounting practices. Following these announcements, Kraft stock dropped 11% during aftermarket trading on February 21, 2019.

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(Reuters) - Kraft Heinz Co shares fell to their record low on a slew of bad news, mainly centring on a multi-billion dollar write-down, which had investors wondering if years of rigorous cost cuts came at the expense of losing the value of its marquee Kraft and Oscar Mayer brands.

The move put the spotlight on Kraft's slowing growth and the changing tastes of consumers, who have been shunning older, established brands for newer hipper products, cheaper private label brands and non-processed food.

The shares opened at $35.85, down 27 percent, and wiped off nearly $16 billion from its market value. Berkshire Hathaway's Class B shares were down 1 percent.

Shares of rivals also fell, with General Mills, Conagra Brands Inc, Unilever and Nestle SA all down between 3 percent and 6 percent. Unilever's U.S. listed ADRs also fell 2 percent.

Kraft Heinz, controlled by Brazil's 3G Capital and Warren Buffett's Berkshire Hathaway Inc, has been combating higher transportation and commodity costs by tightening overall expenses. But that has come at a price.

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