Darden Restaurants (DRI) – The parent of Olive Garden and other restaurant chains beat estimates by a penny with quarterly earnings of $1.89 per share, with revenue also above estimates. Same-restaurant sales were up 2.3 percent, compared to the consensus Refinitiv estimate of a 1.2 percent increase. Darden did withdraw its forward guidance due to the
Lennar (LEN) – The homebuilder reported quarterly profit of $1.27 per share, well above the consensus estimate of 84 cents per share, with revenue above estimates as well. Going forward, Lennar said it is managing every element of its balance sheet, cash management, and cash flow to maintain its strength as it deals with the
Accenture (ACN) – The consulting firm earned $1.91 per share for its latest quarter, beating the consensus estimate of $1.72, with revenue above estimates. Unlike many companies, Accenture did issue a full-year forecast that it said reflects current assumptions about the
PNC Financial (PNC) – Wells Fargo upgraded PNC to “overweight” from “equal weight” at Wells Fargo Securities, which calls PNC the “Bank of Steel” due to its strong risk management and superior positioning during difficult times.
Marriott (MAR) – Marriott has withdrawn its 2020 guidance and is eliminating its dividend due to the
JPMorgan Chase (JPM) – The bank will temporarily close about 1,000 branches, to help protect employees and reduce the spread of the
Williams-Sonoma (WSM) – Williams-Sonoma reported adjusted quarterly earnings of $2.13 per share, 8 cents above estimates, with the housewares retailer also seeing revenue beat forecasts as same-store sales jumped 7.6 percent. As many other companies have done, Williams-Sonoma did not give any forward guidance due to
Five Below (FIVE) – Five Below came in 3 cents ahead of estimates with quarterly earnings of $1.97, with the discount retailer’s revenue matching Wall Street forecasts. Five Below also declined to give forward guidance.
Square (SQ) – Square won the approval of federal and state banking regulators to open its own bank in Utah, expected to launch in 2021. The mobile payments company had been trying to gain approval to start a bank
Walmart (WMT) – Walmart will remain
Dollar Tree (DLTR) – The discount retailer was named a “Catalyst Call Buy” at Deutsche Bank, which points to elevated sales volumes at both Dollar Tree and Family Dollar due to demand for cleaning supplies, food, and household essentials.
Best Buy (BBY) – Best Buy will remain open, but will shorten hours and only permit a small number of customers in a store at one time.
Guess (GES) – Guess reported adjusted quarterly earnings of $1.22 per share, 10 cents above estimates, with the apparel maker’s revenue falling below forecasts. Guess also said it was a “strong position” to handle the impact of the
TripAdvisor (TRIP) – TripAdvisor has withdrawn its prior 2020 financial outlook. The travel review site had said last month it was seeing a limited impact from the virus outbreak, but is now seeing a more significant impact.
Clorox (CLX) – The household products maker was downgraded to “neutral” from “outperform” at Credit Suisse, which cited valuation following its recent