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Deal hunger sends food stocks higher; US indexes at records


February 22, 2017

NEW YORK (AP) — Stocks again broke records Tuesday as investors came back from a long weekend hungry for deals. While Kraft Heinz and Unilever couldn’t complete a proposed $143 billion mega-merger, food and household goods makers rose as investors bet that other deals are coming.

Companies that make packaged foods, everyday household items and other consumer goods are usually seen as stable investments and rarely take center stage on Wall Street. But on Tuesday they did just that, as investors felt the failed Kraft Heinz-Unilever sale will be replaced by other deals. Oreo maker Mondelez...

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