Accenture, Darden Restaurants, home builders

News Update – Pre-Markets

Check out the businesses making headlines earlier than the bell:

Accenture (ACN) – The consulting agency reported a better-than-expected quarterly revenue and income, however gave a weaker-than-expected income forecast for the present quarter. Accenture pointed to IT spending cuts by company prospects and a unfavorable affect from the stronger greenback. Nonetheless, Accenture gained 1% in premarket trading.

Darden Restaurants (DRI) – The dad or mum of Olive Garden and different restaurant chains fell 2.5% within the premarket after reporting in-line quarter outcomes. Darden’s same-restaurant gross sales rose by 4.2%, in need of the consensus FactSet estimate of 5.1%. Food and beverage prices additionally rose barely greater than anticipated.

KB Home (KBH), Lennar (LEN) – KB Home and Lennar each reported better-than-expected quarterly earnings, however the home builders additionally posted lower-than-expected income as a housing market slowdown weighed on new home orders. KB Home fell 1.7% in premarket trading, whereas Lennar gained 1%.

Salesforce (CRM) – Salesforce shares added 1.9% within the premarket after the business software program big unveiled a plan to function extra effectively and improve revenue margins. Salesforce is aiming for a 25% adjusted working margin for fiscal 2026, in contrast with the 20% it had focused for fiscal 2023.

Steelcase (SCS) – Steelcase reported a better-than-expected revenue for its newest quarter, however the workplace furnishings firm’s income got here in under estimates. the corporate additionally lower its outlook on slower-than-expected return-to-office developments. Steelcase fell 1% within the premarket.

Novavax (NVAX) – The drug maker’s inventory slipped 6.1% in premarket trading after J.P. Morgan Securities downgraded it to “underweight” from “neutral”. The agency stated the corporate’s latest steerage lower could not have gone far sufficient, given decreased vaccine demand in addition to different components.

H.B. Fuller (FUL) – H.B. Fuller rose 2.2% in premarket trading following a slight earnings beat and income that missed estimates. The industrial adhesives maker reported a rise in market share and raised the decrease finish of its fiscal 2022 earnings vary.

Eli Lilly (LLY) – Eli Lilly rose 1.4% in premarket trading after the FDA accepted its most cancers drug Retevmo for brand new makes use of. Separately, UBS upgraded the drug maker’s inventory to “buy” from “neutral” for a number of causes, together with a reducing of dangers surrounding the Lilly weight reduction drug tirzepatide.

FactSet Research (FDS) – The financial info companies supplier fell 7 cents shy of estimates with adjusted quarterly earnings of $3.13 per share. However, income exceeded Wall Street forecasts as FactSet reported a rise in natural income and annual subscription worth.

Source link