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Kraft Heinz's stock surges after conclusion of internal probe and filing of annual report

Tomi Kilgore

Shares of Kraft Heinz Co. surged 5.1% in morning trades Monday, enough to pace the consumer staples sector's gainers, after the food and beverage company disclosed it had completed its investigation into procurement area and internal controls. The company filed its 10-K annual report late Friday, after a delay as a result of the need to restate results after finding certain misstatements. The stock has run up 10.3% since closing May 30 at a record low. It was still down 29.8% year to date, while the SPDR Consumer Staples Select Sector ETF has up 15.3% and the S&P 500 was up 15.4%.