Accenture, Darden Restaurants, FactSet and more

Check out the companies making headlines before the bell:

Accenture (ACN) — Shares of the consulting firm fell 3.3% in premarket after its quarterly revenue beat expectations, but earnings were weighed down by the cost of its exit from Russia. Accenture raised its full-year revenue forecast but lowered its maximum expected earnings range due to the larger-than-expected negative impact from foreign exchange.

Darden Restaurants (DRI) — The parent company of Olive Garden and other restaurant chains reported better-than-expected earnings and revenue for the fourth quarter. It also increased its quarterly dividend by 10% and authorized a new $1 billion share buyback program. Darden added 3.4% in pre-market trading.

FactSet (FDS) – The financial information provider beat the higher and lower estimates for the last quarter. It also supported its previous full-year guidance, with growth expected at the higher end of its projected range.

Rite Aid (RAD) — Rite Aid stock jumped 4.3% in pre-market activity after reporting better-than-expected revenue and a smaller-than-expected quarterly loss.

KB Home (KBH) — KB Home reported quarterly earnings of $2.32 per share, beating the consensus estimate of $2.03, and the homebuilder’s revenue came in higher than analysts’ expectations. However, he said, higher interest rates and higher prices are starting to have a negative impact on sales growth. KB Home stock jumped 3% in pre-market trading.

Occidental Petroleum (OXY) — Berkshire Hathaway (BRK.B) has purchased an additional 9.6 million shares of Occidental Petroleum, raising its stake in the energy company to 16.3%. Occidental rose 2.9% in pre-market activity.

Steelcase (SCS) — Shares of Steelcase rose 3.1% in premarket trading after the office furniture maker reported better-than-expected quarterly results. Higher prices and increased demand helped to offset higher costs caused in part by supply chain difficulties.

WeWork (WE) — The office sharing company’s stock rose 3.3% in the primary market after Credit Suisse began coverage of the stock with a “outperform” rating. Credit Suisse believes WeWork is among the companies that will benefit from increased hybrid and co-working, as well as demographic trends.

Snowflake (SNOW) – The cloud computing company’s stock has been upgraded to “overweight” from “neutral” at JP Morgan Securities, indicating an attractive valuation as well as extremely high levels of satisfaction among Snowflake’s clients. Snowflake is up 6.1% in premarket trading.

Revlon (REV) – Revlon is down 5.7% in the primary market, signaling a possible end to the three-day winning streak that followed last week’s Chapter 11 bankruptcy announcement. The cosmetics maker’s shares have more than quadrupled over the past three sessions.

Leave a Reply

Your email address will not be published.