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Accenture, Darden Eating places, dwelling builders

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News Update – Pre-Markets

Take a look at 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 adverse affect from the stronger greenback. Nonetheless, Accenture gained 1% in premarket buying and selling.

Darden Restaurants (DRI) – The dad or mum 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 Home (KBH), Lennar (LEN) – KB Dwelling 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 Dwelling 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 enhance 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 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 mentioned the corporate’s current steerage reduce could not have gone far sufficient, given decreased 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 commercial 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 authorized 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 decreasing of dangers surrounding the Lilly weight reduction drug tirzepatide.

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

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