FinanceAccenture, Darden Eating places, dwelling builders

Accenture, Darden Eating places, dwelling builders

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News Update – Pre-Markets

Try 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 clients and a detrimental impression from the stronger greenback. Nonetheless, Accenture gained 1% in premarket buying and selling.

Darden Eating places (DRI) – The mother or father of Olive Backyard 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%. Meals and beverage prices additionally rose barely greater than anticipated.

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

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

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

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 economic 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 permitted its most cancers drug Retevmo for brand spanking new makes use of. Individually, UBS upgraded the drug maker’s inventory to “purchase” from “impartial” for a number of causes, together with a reducing of dangers surrounding the Lilly weight reduction drug tirzepatide.

FactSet Analysis (FDS) – The monetary data providers supplier fell 7 cents shy of estimates with adjusted quarterly earnings of $3.13 per share. Nevertheless, income exceeded Wall Road forecasts as FactSet reported a rise in natural income and annual subscription worth.

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