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Darden Restaurants Inc. (DRI) Plunged To A 10-Month Low On Weak Forecast

12/5/2012 7:20 AM ET

Darden Restaurants Inc. (DRI: Quote) announced Tuesday morning that it expects to report second quarter net earnings from continuing operations of $0.26 to $0.27 per share. The consensus estimate is for EPS of $0.47. The company also lowered its full year 2013 earnings from continuing operations forecast to between $3.29 and $3.49, from previous expectations of $3.76 to $3.90. The consensus estimate is for EPS of $3.88.

Darden Restaurants gapped open sharply lower Tuesday, but traded in a range for the majority of the session. Shares ended the session lower by 5.02 at $47.40 on the highest volume of the year. The stock sank to a 10-month low.

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by RTT Staff Writer

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