Check out the companies that make headlines before the clock:
Accenture (ACN) – The consulting firm’s shares fell 3.3% in the pre-market after its quarterly turnover beat forecasts, but earnings were affected by the cost of its Russia exit. Accenture raised its full-year earnings forecast, but cut the upper end of its expected earnings range due to a 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 profits and revenue for its most recent quarter. It also increased its quarterly dividend by 10% and approved a new share buyback program of DKK 1 billion. USD. Darden added 3.4% in pre-market trading.
FactSet (FDS) – The financial information provider hit top and bottom line estimates for its most recent quarter. It also backed up its previous full-year guidance, with growth expected at the upper end of its expected range.
Rite Aid (RAD) – Rite Aid shares rose 4.3% in pre-market action 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. However, it said rising interest rates and higher prices began to have a negative impact on sales growth. KB Home jumped 3% in pre-market trading.
Occidental Petroleum (OXY) – Berkshire Hathaway (BRK.B) bought a further 9.6 million shares in Occidental Petroleum, raising its stake in the energy producer to 16.3%. Occidental rose 2.9% in pre-market action.
Steelcase (SCS) – Steelcase shares rose 3.1% in pre-market trading after the office furniture maker reported better-than-expected quarterly results. Higher prices and increased demand helped offset rising costs, which were partly due to difficulties in the supply chain.
WeWork (WE) – The office-sharing company’s share rose 3.3% in the pre-market after Credit Suisse began covering the stock with an “outperform” rating. Credit Suisse believes that WeWork is among the companies that will benefit from the increase in hybrid work and co-working as well as demographic trends.
Snowflake (SNOW) – The cloud computing company’s stock was upgraded to “overweight” from “neutral” at JP Morgan Securities, indicating an attractive valuation as well as extremely high levels of satisfaction among Snowflake customers. Snowflake rose 6.1% in pre-market trading.
Revlon (REV) – Revlon fell 5.7% in the pre-market, signaling a possible end to the three-day winning streak that followed their Chapter 11 bankruptcy application last week. The cosmetics manufacturer’s shares have risen more than four times over the last 3 sessions.