FedEx, Conagra rise; Schnitzer Steel, Simply Good Foods fall

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:

FedEx Corp., up $3.44 to $229.93.

The package delivery service will restructure its operations as part of a $4 billion cost-cutting plan.

Johnson & Johnson, up $7.12 to $165.61.

The maker of Tylenol and Band-Aid bandages is earmarking nearly $9 billion to settle cancer lawsuits related to its baby powder.

Schnitzer Steel Industries Inc., down $1.63 to $28.70.

The recycler of ferrous and nonferrous scrap metal reported weak fiscal second-quarter earnings.

The Simply Good Foods Co., down $1.85 to $36.84.

The maker of Atkins meal plans warned investors a drop in its fiscal 2023 margins could be steeper than previously estimated.

Conagra Brands Inc., up 69 cents to $38.27.

The maker of Birds Eye frozen vegetables and Slim Jim meat sticks reported strong fiscal third-quarter results.

Chipotle Mexican Grill Inc., down $37.42 to $1,697.42.

Restaurants slipped following a government report showing slower growth in the services sector.

Walmart Inc., up $2.44 to $149.67.

The retailer reaffirmed its financial forecasts for the year.

Western Alliance Bancorp, down $4.15 to $29.37.

Investors were disappointed by the Phoenix bank’s update on its deposits.