Accenture, Darden Restaurants, FactSet and more

Accenture, Darden Restaurants, FactSet and more

Take a look at the companies making headlines before the bell:

Accenture (ACN) – Shares of the consultancy firm fell 3.3% premarket after its quarterly revenue beat forecasts, but earnings were hit by the cost of its exit from Russia. Accenture raised its full-year revenue forecast but cut the upper end of its projected earnings range due to a larger-than-expected negative foreign exchange impact.

Darden Restaurants (DRI) – The parent company of Olive Garden and other restaurant chains reported better-than-expected earnings and revenue for its latest quarter. It also increased its quarterly dividend by 10% and authorized a new $1 billion share buyback program. Darden added 3.4% in premarket trading.

FactSet (FDS) – The financial information provider beat general and broad estimates for its latest quarter. It also supported its previous guidance for the full year, with growth projected at the upper end of its projected range.

Rite Aid (RAD): Rite Aid shares rose 4.3% in premarket action after reporting better-than-expected earnings and a smaller-than-expected quarterly loss.

KB Home (KBH): KB Home reported quarterly earnings of $2.32 per share, beating the consensus estimate of $2.03, and the homebuilder’s revenue also beat analyst forecasts. However, he said rising interest rates and higher prices were starting to have a negative impact on sales growth. KB Home jumped 3% in premarket trading.

Occidental Petroleum (OXY) – Berkshire Hathaway (BRK.B) bought an additional 9.6 million shares of Occidental Petroleum, raising its stake in the energy producer to 16.3%. Occidental was up 2.9% in premarket action.

Steelcase (SCS) – Steelcase shares rose 3.1% in premarket trading after the office furniture maker reported better-than-expected quarterly results. Higher prices and increased demand helped offset rising costs stemming in part from supply chain difficulties.

WeWork (WE): Shares of the office-sharing company rose 3.3% premarket after Credit Suisse began hedging the stock with an “outperform” rating. Credit Suisse believes that WeWork is among the companies that will benefit from the rise of hybrid working and co-working, as well as from demographic trends.

Snowflake (SNOW): The cloud computing company’s shares have been upgraded to “overweight” from “neutral” in JP Morgan Securities, pointing to an attractive valuation as well as extremely high satisfaction levels among clients of Snowflake. Snowflake was up 6.1% in premarket trading.

Revlon (REV) – Revlon fell 5.7% premarket, signaling a possible end to the three-day winning streak that followed its Chapter 11 bankruptcy filing last week. Shares of the cosmetics manufacturer have multiplied by more than four in the last 3 sessions.

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