Packaged Foods Broadly Lower On Weak Results From Kraft, Kellogg
Packaged foods shares were broadly off Thursday after two major players posted sharp second-quarter profit declines.
"There's no question that economic and consumer trends are creating top-line growth challenges for the food and beverage industry," Kraft CEO Anthony Vernon said in a statement that accompanied its earnings report.
Kraft was down 4.2 percent to $54.82, while Kellogg dropped four percent to $61.16.
Inventure Foods (NASDAQ: SNAK) sank 3.5 percent
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