Check out the businesses making headlines earlier than the bell:
Accenture (ACN) – The consulting agency’s shares fell 3.3% within the premarket after its quarterly income beat forecasts however earnings had been impacted by the price of its Russia exit. Accenture raised its full-year income forecast however lower the highest finish of its projected earnings vary because of a greater-than-expected destructive influence from overseas alternate.
Darden Restaurants (DRI) – The mother or father of Olive Garden and different restaurant chains reported better-than-expected revenue and income for its newest quarter. It additionally elevated its quarterly dividend by 10% and approved a brand new $1 billion share repurchase program. Darden added 3.4% in premarket buying and selling.
FactSet (FDS) – The monetary data supplier beat prime and bottom-line estimates for its newest quarter. It additionally backed its prior full-year steering, with progress projected on the higher finish of its projected vary.
Rite Aid (RAD) – Rite Aid shares jumped 4.3% in premarket motion after reporting better-than-expected income and a smaller-than-expected quarterly loss.
KB Home (KBH) – KB Home reported quarterly earnings of $2.32 per share, beating the $2.03 consensus estimate, and the house builder’s income additionally got here in above analyst forecasts. However, it stated rising rates of interest and larger costs had been starting to have a destructive influence on gross sales progress. KB Home jumped 3% in premarket buying and selling.
Occidental Petroleum (OXY) – Berkshire Hathaway (BRK.B) purchased an extra 9.6 million shares of Occidental Petroleum, elevating its stake within the power producer to 16.3%. Occidental rallied 2.9% in premarket motion.
Steelcase (SCS) – Steelcase shares rose 3.1% in premarket buying and selling after the workplace furnishings maker reported better-than-expected quarterly outcomes. Higher costs and elevated demand helped offset rising prices stemming partially from provide chain difficulties.
WeWork (WE) – The office-sharing firm’s inventory rose 3.3% within the premarket after Credit Suisse initiated protection of the inventory with an “outperform” ranking. Credit Suisse feels WeWork is among the many firms that can profit from the rise in hybrid work and co-working, in addition to demographic developments.
Snowflake (SNOW) – The cloud computing firm’s inventory was upgraded to “overweight” from “neutral” at J.P. Morgan Securities, which pointed to a horny valuation in addition to extraordinarily excessive satisfaction ranges amongst Snowflake clients. Snowflake surged 6.1% in premarket buying and selling.
Revlon (REV) – Revlon slid 5.7% within the premarket, signaling a doable finish to the three-day win streak that adopted its Chapter 11 chapter submitting final week. The cosmetics maker’s shares have surged more than fourfold over the previous 3 periods.
