Check out the companies making headlines before the bell:
Accenture (ACN) – Shares of the consulting firm fell 3.3% pre-market after its quarterly revenue beat forecasts, but earnings were hit by the cost of its exit from Russia. Accenture raised its full-year revenue forecast, but cut the upper end of its projected profit range due to a larger-than-expected negative currency impact.
Darden Restaurants (DRI) – The parent company of Olive Garden and other restaurant chains reported better-than-expected earnings and revenue for its latest quarter. It also increased its quarterly dividend by 10% and authorized a new $1 billion share buyback program. Darden added 3.4% in premarket trading.
FactSet (FDS) – The financial information provider beat earnings estimates for its latest quarter. It also supported its earlier full-year guidance, with projected growth at the upper end of its projected range.
Rite Aid (RAD) – Shares of Rite Aid jumped 4.3% in premarket action after reporting better-than-expected earnings and a weaker-than-expected quarterly loss.
KB Home (KBH) – KB Home reported quarterly earnings of $2.32 per share, beating the consensus estimate of $2.03, and the homebuilder’s revenue also beat analysts’ forecasts. However, he said rising interest rates and prices were starting to have a negative impact on sales growth. KB Home jumped 3% in premarket trading.
Occidental Petroleum (OXY) – Berkshire Hathaway (BRK.B) bought an additional 9.6 million shares of Occidental Petroleum, raising its stake in the energy producer to 16.3%. Occidental rose 2.9% in premarket action.
Steelcase (SCS) – Steelcase shares rose 3.1% in premarket trading after the office furniture maker reported better-than-expected quarterly results. Higher prices and increased demand helped offset rising costs stemming in part from supply chain challenges.
WeWork (WE) – The office-sharing company’s stock rose 3.3% pre-market after Credit Suisse launched a hedge of the stock with an “outperform” rating. Credit Suisse believes WeWork is among the companies that will benefit from the rise of hybrid working and coworking, as well as demographic trends.
Snowflake (SNOW) – The cloud computing company’s stock fell from “overweight” to “neutral” at JP Morgan Securities, indicating an attractive valuation as well as extremely high satisfaction levels among Snowflake customers. Snowflake jumped 6.1% in premarket trading.
Revlon (REV) – Revlon slid 5.7% premarket, signaling a possible end to the three-day winning streak that followed its Chapter 11 bankruptcy filing last week. Shares of the cosmetics maker have more than quadrupled in the past 3 sessions.