Tech

Darden Restaurant, Winnebago, FedEx and others

Check out the companies that make headlines before the alarm goes off:

Restaurants in Darden (DRI) – The parent company of Olive Garden, Longhorn Steakhouse and other restaurant chains beat estimates by 5 cents with quarterly earnings of $1.48 per share, and revenue also topped forecasts. Same-restaurant sales rose 34.4%, well above the 32.6% consensus estimate compiled by StreetAccount and Darden’s upbeat forecast. Separately, Darden announced that CEO Eugene Lee will retire in May 2022, to be replaced by current President and CEO Ricardo Cardenas. Darden fell 5% in the currency market.

Winnebago (WGO) – The entertainment media maker added 3.4% in pre-market trading after beating a sizable profit in its fiscal first quarter. Winnebago earned $3.51 per share, compared with the consensus estimate of $2.26, and revenue also fell within the analysts’ forecasts above.

FedEx (FDX) – Shares of the delivery service jumped 5.9% in money markets after beating profit and loss estimates for the latest quarter. FedEx earned an adjusted $4.83 per share, beating the consensus estimate of $4.28, with higher shipping fees helping to offset the increased costs.

Rivian (RIVN) – The electric vehicle maker lost $1.23 billion in the third quarter due to the cost of starting production of its electric pickup trucks. This is Rivian’s first quarterly report since going public, and revenue is $1 million from early deliveries. Shares fell 7.9% in pre-market trading.

Bottomline Technology (EPAY) – Bottom line shares rose 15.1% in money markets after the fintech company agreed to be acquired by private equity firm Thoma Bravo for $57 per share in cash, equivalent to $2.6 billion.

Attestor (CERN) – Shares of the healthcare information technology company jumped 18.9% in pre-market trading after the Wall Street Journal reported that Oracle (ORCL) is in talks to buy Cerner in a potential $30 billion deal. Oracle fell 4.6%.

Johnson & Johnson (JNJ) – J&J shares fell 2.1% in money markets after the CDC recommended that adults receive Pfizer (PFE) or Moderna (MRNA) Covid-19 vaccine, not J&J injection. The CDC cites new data showing higher levels of the clotting condition than previously thought, although that condition remains rare.

Affirm Holdings (AFRM) – Shares of the “buy now pay later” company fell 2.3% in money markets after the Consumer Financial Protection Bureau said it was opening an investigation into companies that make such plans.

Novavax (NVAX) – The drugmaker’s shares rose 1.3% in trading ahead of a Financial Times report that the European Medicines Agency may approve a Covid-19 vaccine for use. emergency early next week.

US Steel (X) – Shares of the steelmaker fell 4.4% in the market before the company delivered lower-than-expected current quarter guidance, given its higher costs and conservative buying pattern. customers have compensated for the improved steel prices.

Steelcase (SCS) – The office furniture maker reported lower-than-expected profit and revenue for the third quarter, with Steelcase saying its results were affected by supply chain and cost issues higher fees. Steelcase fell 4.4% in pre-market trading.

https://www.cnbc.com/2021/12/17/stocks-making-the-biggest-moves-premarket-darden-restaurants-winnebago-fedex-and-others.html Darden Restaurant, Winnebago, FedEx and others

Sarah Ridley

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