** Berkshire Hathaway BRKa.N said on Saturday it took a $3.76 billion writedown on its stake in Kraft Heinz KHC.O during the second quarter, an acknowledgment the decade-old investment hasn't worked out

** Shares of Berkshire Hathaway down 2.9% at $690,542.87, while those of Kraft Heinz fall 2.7% to $26.67

** "(Berkshire Hathaway) share price continues to slide, even as the U.S. stock market rallies, to perhaps suggest that investors are yet to convince themselves that Berkshire Hathaway will be the same without Warren Buffett and Charlie Munger," says AJ Bell investment director Russ Mould

ESTIMATE BEAT, TAX WATCH

** UBS ("buy") says it would expect a modestly negative reaction to the Kraft Heinz charge. However, this is somewhat offset by better-than-expected results at Berkshire Hathaway units Burlington Northern Santa Fe and Geico

** Adds that regarding macro conditions and geopolitical events, BRK highlighted the uncertain outlook around tariffs and the "Big Beautiful Bill", which could impact federal energy-related tax policies Berkshire Hathaway Energy's tax rate

** TD Cowen (PT: $727,000) says BRK posted above-expected EPS on strong insurance, Burlington Northern Santa Fe and Berkshire Hathaway Energy income, despite FX losses of $877 million

** KBW ("market perform," PT: $740,000) raises 2025 and 2026 EPS estimates for Berkshire Hathaway and introduces 2027 estimate, citing Q2 outperformance and lower expenses and taxes offsetting weaker revenues across most segments

(Reporting by Prakhar Srivastava and Rashika Singh in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))