Kraft Heinz reports $6.4 billion operating loss amid impairment charges

Kraft Heinz reported a $6.4 billion operating loss for the second quarter, driven largely by $7.4 billion in impairment charges. These non-cash charges include $2.4 billion for goodwill impairment and $4.9 billion for intangible asset impairment related to trademarks. The company also saw a 1.3% year-over-year drop in adjusted sales, as lower demand and changing consumer mix offset price increases.

In real estate and utilities, institutional investment activity remains active. Meeder Asset Management Inc. increased its stake in Simon Property Group by 90.4% during the second quarter, bringing its total holdings to 149,386 shares. Other major firms, including BlackRock Inc. and Wellington Management Group LLP, have also maintained or increased positions in the REIT.

Consolidated Edison Inc has seen new interest from OneDigital Investment Advisors LLC, which established a position of 15,961 shares in the second quarter. The utility provider maintains a market capitalization of approximately $40.21 billion, with institutional investors owning 66.29% of its stock.