Mondelez International
The NotPetya malware incident affected a significant portion of Mondelez's global sales, distribution and financial networks.
-1.0% MDLZ vs +1.6% SPY
This site shows how share prices moved after an incident became public. It does not prove that the incident caused the move. Company news, sector moves and the wider market can affect every result. Educational only — not investment advice.
Disclosure timing
When could the market react?
The baseline is the last adjusted close before the news was public. The reaction session is the first close afterward.
- 01Baseline sessionJun 26, 2017
Normalized to 100 for both MDLZ and SPY.
- 02Public disclosureJun 27, 2017 · time unknown
Publication time is not documented; lower timing precision.
- 03First reaction closeJun 27, 2017
-2.1% company total return versus -0.8% for SPY; -1.3 pp market-relative return.
Disclosure time is unknown; the previous session close is used as baseline.
Time windows
Company vs SPY
Each row uses the last trading session on or before its target date. “Market-relative” is the company return minus the SPY return, in percentage points.
| Window | Endpoint | MDLZ | SPY | Market-relative | Signal |
|---|---|---|---|---|---|
| First reaction | Jun 27, 2017 | -2.1% | -0.8% | -1.3 pp | Below SPY |
| +7 days | Jul 3, 2017 | -3.4% | -0.4% | -2.9 pp | Below SPY |
| +1 month | Jul 27, 2017 | -1.0% | +1.6% | -2.6 pp | Below SPY |
| +3 months | Sep 27, 2017 | -9.3% | +3.3% | -12.5 pp | Below SPY |
| +6 months | Dec 27, 2017 | -2.7% | +11.0% | -13.7 pp | Below SPY |
| +12 months | Jun 27, 2018 | -6.8% | +12.8% | -19.6 pp | Below SPY |
Compare with current catalog aggregates
| Window | This case | Catalog median | Catalog mean | n |
|---|---|---|---|---|
| First reaction | -1.3 pp | -0.8 pp | -1.5 pp | 30 |
| +7 days | -2.9 pp | -2.0 pp | -4.0 pp | 30 |
| +1 month | -2.6 pp | -6.6 pp | -6.8 pp | 30 |
| +3 months | -12.5 pp | -5.1 pp | -6.6 pp | 30 |
| +6 months | -13.7 pp | -5.6 pp | -7.5 pp | 30 |
| +12 months | -19.6 pp | -3.7 pp | -10.1 pp | 30 |
Normalized total return
MDLZ compared with SPY
Baseline session = 100. Adjusted close reflects splits and reinvested distributions.
Mondelez International had -6.8% company total return versus +12.8% for SPY; -19.6 pp market-relative return. The chart shows normalized adjusted-close performance for up to 24 months.
View tabular chart fallback
| Date | MDLZ | SPY |
|---|---|---|
| Jun 26, 2017 | 100.0 | 100.0 |
| Jul 26, 2017 | 98.9 | 101.7 |
| Aug 24, 2017 | 93.7 | 100.3 |
| Sep 25, 2017 | 90.6 | 102.8 |
| Oct 24, 2017 | 92.4 | 106.0 |
| Nov 22, 2017 | 95.2 | 107.3 |
| Dec 22, 2017 | 97.5 | 111.1 |
| Jan 25, 2018 | 100.5 | 117.6 |
| Feb 26, 2018 | 101.2 | 115.4 |
| Mar 27, 2018 | 92.5 | 108.6 |
| Apr 26, 2018 | 90.4 | 111.0 |
| May 25, 2018 | 90.0 | 113.4 |
| Jun 26, 2018 | 93.6 | 113.7 |
| Jul 26, 2018 | 98.9 | 118.6 |
| Aug 24, 2018 | 96.9 | 120.4 |
| Sep 25, 2018 | 98.8 | 122.3 |
| Oct 24, 2018 | 95.0 | 111.6 |
| Nov 23, 2018 | 100.7 | 110.7 |
| Dec 26, 2018 | 92.0 | 104.2 |
| Jan 28, 2019 | 99.8 | 111.6 |
| Feb 27, 2019 | 109.0 | 118.1 |
| Mar 28, 2019 | 114.8 | 119.3 |
| Apr 29, 2019 | 117.5 | 124.9 |
| May 29, 2019 | 119.0 | 118.2 |
| Jun 27, 2019 | 126.5 | 124.5 |
Price recovery
Recovered
Here, recovery only means that adjusted close reached the baseline again. It does not mean every effect of the incident ended.
- State
- Recovered
- Initial trough
- -3.5% on Jun 29, 2017
- Recovery close
- Jan 22, 2018
- Calendar days
- 209
- Observation cap
- 24 months after disclosure
Hypothetical $1,000
What would $1,000 have looked like?
Compare $1,000 in MDLZ with $1,000 in SPY, bought and measured on the same dates.
Entry Jun 30, 2017 Exit Dec 29, 2017
Uses fractional shares and adjusted close. Leaves out taxes, fees and slippage. The holding period starts on the purchase date. This is a historical illustration, not an investment strategy.
Case note
Mondelez reported that NotPetya affected a significant portion of its global sales, distribution and financial networks. Business-continuity measures restored operations, but some revenue was permanently lost and incremental costs were recorded.
The observation is included independently inside the NotPetya cluster. That structure preserves company-specific outcomes without pretending that three firms exposed to the same campaign are three unrelated events.
Shared campaign
Other Notpetya 2017 cases
The cases share a campaign, but each company keeps its own returns.
Evidence
Sources and case review
We qualify each case before checking its price results. These links support the disclosure date, listing, incident and business impact.
- primary Feb 8, 2019Mondelez 2018 Form 10-K — Malware Incident Mondelez International / U.S. SEC Supports: Disclosure, Listing, Impact, Description
- Listing evidenceChecked Jul 20, 2026Mondelez 2018 Form 10-K — Malware Incident U.S. Securities and Exchange Commission SEC issuer history and company reporting confirm Mondelez's continuous Nasdaq listing through the event.
Why it is included. Mondelez was a direct victim and documented broad disruption across sales, distribution and finance plus measurable lost revenue and incremental expense. Reviewed Jul 20, 2026.