Heinz Crafts and Products
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Check out the companies that make headlines in the lunch trade:
Kraft Heinz – Kraft Heinz dropped 3.8% after 3G Capital, the second largest shareholder of consumer goods companies, sold more than 25 million shares. The shares were sold at $ 28.44. The sale came after Kraft Heinz fell 25% in February after writing off $ 15.4 billion in two of its iconic brands: Oscar Mayer and Kraft.
Oil & Gas ̵
Retail Stocks – Shares in the S&P 500 Retail ETF (XRT) fell 0.7% as retailers worry that higher gas prices will eat up at consumer spending, reducing retail sales. , Nordstorm's stock is up more than 10%, while Macy's is down over 4% and Kohl's is down 3.5%.
Corning – The production of glass and fiber optic components has gained 8% after the company lowered its forecast for sales of television and fiber optic communication cable components. Corning cites business investment cuts by several major telecommunications companies.
Airlines – Shares of American Airlines rose nearly 3% and United Airlines rose more than 2% after oil prices fell after their biggest jump on Monday. Higher oil prices can weigh on transport stocks, especially airlines that use large quantities of fuel.
Home Depot – Home Depot's home improvement retailer shares fell 1% after dropping from Guggenheim to neutral from purchase. The company said Home Depot's $ 5.4 billion business investment plan is likely to prevent the margin from expanding in 2020. Guggenheim also lowered its earnings per share forecasts in 2020.
Cracker Barrel – Shares in the restaurant chain Cracker Barrel jumped 4% after reporting strong fourth-quarter revenue. Cracker Barrel won the top and bottom lines, earning $ 787.1 million in revenue, compared to $ 775 million estimated by analysts, according to Refinitiv. Earnings per share were $ 2.70, with the highest valuations being $ 2.48. Same-store sales rose 3.8%, while Wall Street forecasts 2.7% growth.
Zynga – Shares of game developer Zynga rose 2% after Stephens called the company "the best idea". The company said Zynga was well positioned to consolidate its mobile gaming market over the next 6-18 months.
Match Group – The parent company of Match.com and Tinder, Match Group, have risen 3% since the start of Citi's Buy Rating. The company said the company has a compelling opportunity internationally.
SeaWorld Entertainment – SeaWorld shares fell 3% after the company announced that its CEO Gustavo Antorcia had left the company seven months after taking the job. Chief Financial Officer Mark Swanson will serve as interim CEO.
– CNBC's Yun Lee and Fred Umbert contributed to this report.