Check out the companies making headlines before the bell:
Accenture (ACN) – The consulting firm reported quarterly profit of $2.09 per share, 9 cents a share above estimates. Revenue also beat forecasts, and Accenture raised the lower end of its 2020 adjusted earnings forecast.
Conagra Brands (CAG) – Conagra beat estimates by 6 cents a share, with adjusted quarterly earnings of 63 cents per share. Revenue topped estimates as well. The maker of food brands like Birds Eye, Healthy Choice, and Vlasic also raised the amount of cost synergies related to its 2018 acquisition of Pinnacle Foods.
Darden Restaurants (DRI) – The parent of Olive Garden and other restaurant chains earned an adjusted $1.12 per share for its latest quarter, 5 cents a share above estimates. Revenue was slightly below forecasts. Sales at restaurants open at least a year rose 2%, in line with analysts’ forecasts.
FactSet (FDS) – FactSet beat estimates by 16 cents a share, with quarterly profit of $2.58 per share. The provider of financial information services saw revenue miss forecasts. The bottom line was helped by an increase in profit margins.
Rite Aid (RAD) – The drugstore chain reported quarterly profit of 54 cents per share, compared with a consensus estimate of 9 cents a share. Revenue also beat forecasts, with results boosted by better expense control and increased prescription business at Rite Aid pharmacies.
Micron Technology (MU) – Micron reported adjusted quarterly earnings of 48 cents per share, a penny a share above estimates. The chip maker’s revenue came in above Wall Street forecasts as well. Micron said the current-quarter would represent the bottom of what’s been a difficult period for the memory chip market. The news is also giving a boost to other chip stocks like Western Digital (WDC) and Nvidia (NVDA).
Boeing (BA) – Boeing’s debt rating was cut one notch by Moody’s, as the grounding of the jet maker’s 737 Max aircraft continues. Moody’s said it sees long term risk to Boeing’s reputation following its move to suspend production of the jet in January.
Seattle Genetics (SGEN) – The drugmaker and Japan’s Astellas Pharma won U.S. approval for their experimental drug to treat advanced bladder cancer, the first such drug to win Food and Drug Administration approval.
TiVo (TIVO) – TiVo will merge with technology licensor Xperi (XPER) in a stock-swap deal. TiVo shareholders will own about 53.5% of the combined company.
Freddie Mac (FMCC) – Freddie Mac is offering early retirement to 25% of its workers, according to a Reuters report. The move is said to be part of an effort to reform the housing finance agency.
Green Dot (GDOT) – Green Dot announced the retirement of Chief Executive Officer and founder Steve Streit, as well as Chief Financial Officer Mark Shifke. The financial technology company’s chairman, William Jacobs, will serve as interim CEO.
Herman Miller (MLHR) – Herman Miller beat estimates by a penny a share, with quarterly profit of 88 cents per share. The office furniture maker’s revenue came in below analysts’ forecasts. The company said its results were impacted by lower-thananticipated order levels in an uncertain economic environment, although it added that profit came in at the higher end of its forecasts despite those difficulties.
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