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.

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Jeremy Olson/The Minnesota Star Tribune

The funding, temporarily preserved by a judge’s order, supported nurses and others providing rural health access as well as efforts to prepare for public health emergencies.

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A logo sign outside of a facility occupied by Cargill Animal Nutrition in Little Chute, Wis., on June 24, 2018.