Money

Accenture, Darden Restaurants, home builders

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 buying and selling.

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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%, wanting 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 buying and selling, whereas Lennar gained 1%.

Salesforce (CRM) – Salesforce shares added 1.9% within the premarket after the business software large 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 office furnishings company’s income got here in beneath estimates. the company additionally reduce its outlook on slower-than-expected return-to-office traits. Steelcase fell 1% within the premarket.

Novavax (NVAX) – The drug maker’s stock slipped 6.1% in premarket buying and selling after J.P. Morgan Securities downgraded it to “underweight” from “neutral”. The agency stated the company’s latest steering reduce could not have gone far sufficient, given lowered vaccine demand in addition to different elements.

H.B. Fuller (FUL) – H.B. Fuller rose 2.2% in premarket buying and selling 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 buying and selling after the FDA accepted its most cancers drug Retevmo for brand spanking new makes use of. Separately, UBS upgraded the drug maker’s stock 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 monetary info providers 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.

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