Bulletin
Investor Alert

Market Pulse Archives

Feb. 17, 2017, 11:45 a.m. EST

Mondelez's stock slumps after Kraft's bid for Unilever reduces buyout odds

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Mondelez International Inc. Cl A (MDLZ)
  • X
    Kraft Heinz Co. (KHC)
  • X
    Unilever PLC ADR (UL)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Mondelez International Inc. /quotes/zigman/11829567/composite MDLZ +0.05% shed 1.4% in midday trade, as Kraft Heinz Co.'s /quotes/zigman/54335842/composite KHC +1.24% bid to buy Unilever PLC /quotes/zigman/203077/composite UL -0.27% might reduce the likelihood that Mondelez gets acquired. Analyst Pablo Zuanic at Susquehanna said that although Unilever has rejected Kraft Heinz's bid, he believes "a deal to eventually happen." For now, Zuanic said the bid "should lower the probability of a bid for [Mondelez]," as the focus seems to be more on grocery than snacks. He said the bid should also pressure the stocks of a number of U.S.-heavy food companies, including General Mills Inc. /quotes/zigman/227548/composite GIS +1.04% , Campbell Soup Co. /quotes/zigman/221274/composite CPB +0.76% and Kellogg Co. /quotes/zigman/231157/composite K +2.71% . General Mills shares dropped 3.3% after cutting its sales outlook, Campbell's stock shed 6.7% after reporting disappointing quarterly sales and Kellogg's shares slumped 2.9%. Kraft's stock soared 7.6% and Unilever's U.S.-listed shares climbed 11%, while the S&P 500 /quotes/zigman/3870025/realtime SPX -0.24% eased 0.2%.

Read the full story:
Warren Buffett is $4 billion richer after Kraft Heinz’s merger bid for Unilever

/quotes/zigman/11829567/composite
US : U.S.: Nasdaq
$ 39.58
+0.02 +0.05%
Volume: 4.76M
May 25, 2018 4:00p
P/E Ratio
18.87
Dividend Yield
2.22%
Market Cap
$58.35 billion
Rev. per Employee
$316,229
loading...
/quotes/zigman/54335842/composite
US : U.S.: Nasdaq
$ 57.77
+0.71 +1.24%
Volume: 3.25M
May 25, 2018 4:00p
P/E Ratio
6.39
Dividend Yield
4.33%
Market Cap
$69.57 billion
Rev. per Employee
$671,077
loading...
/quotes/zigman/203077/composite
US : U.S.: NYSE
$ 55.65
-0.15 -0.27%
Volume: 591,809
May 25, 2018 4:03p
P/E Ratio
22.73
Dividend Yield
3.20%
Market Cap
$68.23 billion
Rev. per Employee
$370,988
loading...
/quotes/zigman/227548/composite
US : U.S.: NYSE
$ 42.64
+0.44 +1.04%
Volume: 3.84M
May 25, 2018 4:01p
P/E Ratio
11.40
Dividend Yield
4.60%
Market Cap
$25.02 billion
Rev. per Employee
$412,021
loading...
/quotes/zigman/221274/composite
US : U.S.: NYSE
$ 34.60
+0.26 +0.76%
Volume: 4.92M
May 25, 2018 4:01p
P/E Ratio
21.76
Dividend Yield
4.05%
Market Cap
$10.32 billion
Rev. per Employee
$451,667
loading...
/quotes/zigman/231157/composite
US : U.S.: NYSE
$ 65.23
+1.72 +2.71%
Volume: 4.56M
May 25, 2018 4:01p
P/E Ratio
15.70
Dividend Yield
3.31%
Market Cap
$22.03 billion
Rev. per Employee
$396,061
loading...
/quotes/zigman/3870025/realtime
US : S&P Base CME
2,721.33
-6.43 -0.24%
Volume: 1.68B
May 25, 2018 4:46p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.