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 damaging impression from the stronger greenback. Nonetheless, Accenture gained 1% in premarket buying and selling.
Darden Restaurants (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%, wanting the consensus FactSet estimate of 5.1%. Meals and beverage prices additionally rose barely greater than anticipated.
KB Home (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 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 minimize its outlook on slower-than-expected return-to-office tendencies. 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 latest steerage minimize 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 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 authorised its most cancers drug Retevmo for brand 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 data providers supplier fell 7 cents shy of estimates with adjusted quarterly earnings of $3.13 per share. Nonetheless, income exceeded Wall Avenue forecasts as FactSet reported a rise in natural income and annual subscription worth.