Spotify, Alphabet rise; Kraft Heinz, Garmin fall

Jul 27, 2022, 1:24 AM | Updated: 1:27 pm

Stocks that traded heavily or had substantial price changes Wednesday:

Teva Pharmaceutical Industries Ltd., up $2.02 to $9.14.

The drugmaker agreed to a $4.3 billion settlement to settle lawsuits that claimed the company helped fuel the U.S. opioid epidemic.

Alphabet Inc., up $8.04 to $113.06.

Google’s owner reported second-quarter results that weren’t as bad as investors feared.

Spotify Technology SA, up $12.64 to $116.61.

The music streaming service’s monthly active user and premium subscriber numbers exceeded the Street’s expectations.

Chipotle Mexican Grill Inc., up $193.57 to $1,510.

The restaurant chain reported second-quarter earnings that beat analysts’ forecasts, helped by higher margins and lower expenses.

Sherwin-Williams Co., down $22.32 to $231.97.

The paint and coatings maker lowered its earnings outlook after its results fell short of Wall Street’s estimates.

Kraft Heinz Co., down $2.30 to $36.34.

The maker of Jell-O pudding and Velveeta cheese reported strong second-quarter financial results, but year-over-year margins fell.

Garmin Ltd., down $8.94 to $93.56.

The bike computer and fitness watch maker reported revenue growth that fell short of Wall Street’s estimates.

Enphase Energy Inc., up $38.67 to $254.77.

The solar technology company delivered second-quarter results that topped analysts’ forecasts, reflecting strong demand in Europe.

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