Market recap: Kraft Heinz tumbles after posting big loss

February 24, 2019 at 12:16AM

Big decliner: Kraft Heinz tumbled 27.5 percent to $34.95 Friday after the packaged-foods company posted a stunning $12.6 billion fourth-quarter loss as it slashed the value of its Oscar Mayer and Kraft brands by $15.4 billion. The company also disclosed a federal investigation into its procurement operations.

In gear: Avis Budget Group jumped 15.6 percent to $34.02 Thursday after reporting earnings that were much better than analysts were expecting. The bottom line benefited from higher prices. Shares closed the week at $35.33.

Happy holidays: Walmart jumped 3.7 percent to $103.68 Tuesday after reporting its best holiday-quarter sales growth in a decade, lifted by consumer spending in key categories like groceries. Shares closed the week at $99.55.

An unwelcome drop: Weight Watchers slid 4.5 percent to $28.91 Tuesday after analysts at JPMorgan downgraded the weight-management services company, citing a decline in daily average users of the company's app. Shares closed Friday at $29.55.

Solid quarter: Cadence Design Systems climbed 5.5 percent to $55.51 Wednesday after the software and engineering services company's latest quarterly results topped Wall Street's forecasts. Shares closed Friday at $56.57.

Under the weather: CVS Health slumped 7.6 percent to $64.58 Wednesday after the pharmacy operator beat fourth-quarter earnings forecasts as the company issued a 2019 outlook that fell short of analysts' estimates. Shares closed the week at $61.95.

news services

about the writer

about the writer

More from Business

See More
card image
iStock

Prioritize making financial gifts to your children and grandchildren now to both help the future generations and avoid potential taxes.

card image
card image