Darden Restaurants Inc (NYSE:DRI), the parent company of popular dining chains including Olive Garden and LongHorn Steakhouse, saw its shares move higher on Friday as it reported better-than-expected financial results for the fiscal fourth quarter.
Revenue for the quarter ending May 25 was up 10.6% from the year-ago quarter to $3.27 billion, ahead of the Wall Street consensus estimate of $3.26 billion.
Kroger Co (NYSE:KR, ETR:KOG) shares jumped 7% at market open Friday after the company raised its full-year same-store sales forecast and posted mixed first-quarter results.
The grocery giant faces growing competition from Walmart and Costco, but showed resilience with adjusted earnings per share of $1.49, beating Wall Street expectations of $1.45. Same-store sales climbed 3.2%, above the 2.3% forecast, while revenue narrowly missed estimates at $45.12 billion.
Shares of GMS have surged 29% following billionaire Brad Jacobs’ QXO proposal to acquire the building-products distributor for about $5 billion in cash.
Jacobs, who aims to grow QXO into a $50 billion revenue company within ten years, warned he is ready to pursue a hostile takeover if GMS’s board rejects the offer by June 24.
CarMax Inc (NYSE:KMX) shares jumped 8% in early trade as the used car retailer’s fiscal first quarter earnings report impressed investors.
The company’s earnings per share increased 42.3% year-over-year to $1.38, ahead of the Wall Street consensus of $1.19.
Accenture PLC (NYSE:ACN) shares moved lower before Friday’s opening bell after the professional services firm reported a 7% year-over-year drop in bookings to $19.7 billion.
This overshadowed an earnings beat for the fiscal third quarter and boosted full-year sales and profit guidance.