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Check out the companies making headlines before the bell:
Accenture (ACN) – The consulting firm reported a better-than-expected quarterly profit and revenue, but gave a weaker-than-expected revenue forecast for the current quarter. Accenture pointed to IT spending cuts by corporate customers and a negative impact from the stronger dollar. Nonetheless, Accenture gained 1% in premarket trading.
Darden Restaurants (DRI) – The parent of Olive Garden and other restaurant chains fell 2.5% in the premarket after reporting in-line quarter results. Darden's same-restaurant sales rose by 4.2%, short of the consensus FactSet estimate of 5.1%. Food and beverage costs also rose slightly more than expected.
KB Home (KBH), Lennar (LEN) – KB Home and Lennar both reported better-than-expected quarterly earnings, but the home builders also posted lower-than-expected revenue as a housing market slowdown weighed on new home orders. KB Home fell 1.7% in premarket trading, while Lennar gained 1%.
Salesforce (CRM) – Salesforce shares added 1.9% in the premarket after the business software giant unveiled a plan to operate more efficiently and increase profit margins. Salesforce is aiming for a 25% adjusted operating margin for fiscal 2026, compared with the 20% it had targeted for fiscal 2023.
Steelcase (SCS) – Steelcase reported a better-than-expected profit for its latest quarter, but the office furniture company's revenue came in below estimates. the company also cut its outlook on slower-than-expected return-to-office trends. Steelcase fell 1% in the premarket.
Novavax (NVAX) – The drug maker's stock slipped 6.1% in premarket trading after J.P. Morgan Securities downgraded it to «underweight» from «neutral». The firm said
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