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
Fiat Chrysler Automobiles N.V. (FCAU) has submitted a 50/50 merger proposal to the Board of Groupe Renault (RNSDY.PK, RNSDF.PK, RNT.L). Under the proposal, the combined company would be owned 50% by FCA shareholders and 50% by Groupe Renault shareholders. Separately, Groupe Renault confirmed it has received... Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020.