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Kraft Heinz, Rackspace, Shake Shack earnings in focus


Among the companies whose shares are expected to see active trade in Monday’s session are Kraft Heinz, Rackspace Hosting, and Shake Shack.

Kraft Heinz is projected to report second-quarter earnings of 83 cents a share, according to analysts surveyed by FactSet. This is the first earnings report since Kraft and Heinz merged last month.

Rackspace Hosting is forecast to post second-quarter earnings of 20 cents a share, up from 16 cents a share a year ago.

Shake Shack is likely to report second-quarter earnings of 3 cents a share. There are no year-earlier comparison numbers since the company only started trading publicly in January.

Hertz Global Holdings Inc. is expected to post second-quarter earnings of 18 cents a share, down from 45 cents a share a year ago.

Take-Two Interactive Software Inc. is forecast to post fiscal first-quarter earnings of 36 cents a share versus a loss of 14 cents a share a year ago.

Late Friday, Warren Buffett’s Berkshire Hathaway Inc. reported its second-quarter profit fell to $4.01 billion, or $2,442 per Class A share, from $6.4 billion, or $3,889 a share, a year earlier. Operating profit, which excludes some investment results, declined to $3.89 billion, or $2,367 a share, from $4.33 billion, or $2,634 a share due to a drop in its insurance business. Analysts surveyed by Thomson Reuters projected operating earnings of $3,038 a share.

Apple Inc. will host an event to unveil its latest iPhone and Apple TV in the week of Sept. 7, with Sept. 9 eyed as the most likely date, according to Buzzfeed News. Apple held its annual event on Sept. 9 last year as well.

ValueAct Capital Management LP has taken a $1 billion stake in American Express Co. although it’s not clear whether the San Francisco-based activist investment firm will agitate for changes at the card company.

Source: Marketwatch