Huge losses at Kraft drag down food names

|About: B&G Foods, Inc. (BGS)|By:, SA News Editor

It's ugly in the food sector after Kraft Heinz's huge writedown sets off a wave of selling pressure. Investors are having a hard time ignoring the $15B writedown of the Oscar Meyer and Kraft brands.

Some of the food names impacted include Campbell Soup (CPB -8.6%), J.M. Smucker (SJM -5.7%), General Mills (GIS -4%), B&G Foods (BGS -4.4%), Mondelez International (MDLZ -1.7%), ConAgra Brands (CAG -4.7%), Hain Celestial (HAIN -3.2%), Pilgrim's Pride (PPC -1.4%), J.M Smucker (SJM -5.7%), Nomad Foods (NOMD -1%), Hostess Brands (TWNK -1.4%), Flower Foods (FLO -1.4%), Kellogg (K -3.8%), Cal-Maine Foods (CALM -1.2%), Lamb-Weston (LW -1.3%), Sanderson Farms (SAFM -0.5%) and Post Holdings (POST -1.7%).

Anheuser-Busch InBev (NYSE:BUD) is down 4.49% with the 3G/Berkshire magic seen wearing off and even Molson Coors (NYSE:TAP) is down 1.84%.

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