Plus   Neg

Darden Restaurants Posting Strong Gain On Better Than Expected Q2 Earnings

Shares of Darden Restaurants Inc. (DRI) have pulled back off their best levels of the day but continue to turn in strong performance in late-day trading on Tuesday. Darden is currently up by 5.2 percent, bouncing off its lowest closing level in nearly six months.

The rebound by Darden comes after the parent of Olive Garden and other chain restaurants reported slightly better than expected fiscal second quarter earnings. The company also raised its earnings outlook for fiscal 2019.

Darden reported second quarter earnings of $0.92 per share compared to analyst estimates of $0.91 per share, although its revenues of $1.97 billion came in just below expectations for $1.98 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tesla has cut prices of its electric cars in North America following a decline in auto demand during the coronavirus-induced lockdowns. The company is also reducing the prices for its vehicles in China. The luxury electric car maker has reduced the prices for its flagship Model S sedan and the Model X sport utility vehicle by $5,000 each. The U.S. Food and Drug Administration granted approval for Artesunate for Injection 110 mg, powder and solvent for solution to biopharmaceutical company Amivas (US), LLC as the only FDA-approved drug now in the U.S. for the first-line treatment of severe malaria in adult and pediatric patients. It is also the first FDA-approved product that Amivas has introduced to their commercial portfolio. Retail giant Walmart Inc. is entering the fashion resale market through its partnership with thredUP, an online consignment store for second-hand fashion and accessories. The deal will enable Walmart to expand its online fashion offerings. Walmart said that starting Wednesday, customers can browse nearly 750,000 pre-owned items across women's and children's clothing, accessories and footwear.
Follow RTT