Darden Restaurants reported flat comparable quarterly sales as consumers avoided fine dining experiences amid high costs of living and elevated interest rates. Accenture reported weaker-than-expected quarterly results, but the company's new AI-related bookings positively surprised investors.

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La-Z-Boy reported better-than-expected quarterly results. Chegg announced a restructuring plan that includes significant job cuts. Lennar said revenue, new home orders, backlog, and net income advanced in its latest quarter.

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U.S. Movers: Adobe, RH

Jun 14, 2024
Scott Peters
RH, the high-end furniture retailer, reported its third consecutive decline in sales and quarterly losses in a row amid challenging housing market conditions and elevated interest rates. Adobe reported better-than-expected quarterly results and lifted its annual outlook.

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Broadcom reported better-than-expected quarterly results and announced a 10-for-1 stock split. Oxford Industries quarterly sales and earnings declined, but the company held out for higher annual sales in its fiscal year. Dave & Buster's reported quarterly sales were below the market's expectations. 

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Oracle reported weaker-than-expected revenue and earnings growth in its latest quarter. Rentokil Initial was in focus after an activist investor acquired a sizeable stake in the company. Rubrik reported a jump in quarterly losses and a rise in free cash outflow. 

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Cognizant Technology agreed to acquire defense and aviation-focused information technology provider Belcan. Apollo Global and its partners are nearing a bid to acquire DXC Technology.

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GameStop extended the previous week's losses. Nvidia traded after a 10-to-1 stock split. KKR, GoDaddy, and CrowdStrike are set to replace Comerica, Illumina, and Robert Half in the S&P 500 index. 



U.S. Movers: GameStop, Vail Resorts

Jun 7, 2024
Scott Peters
GameStop, the video game retailer and the focus of meme stock investors, reported a narrower loss and announced another secondary offering. Vail Resorts reported weaker-than-expected quarterly sales and earnings.

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Lululemon advanced after the athleisure retailer reported better-than-expected revenue and earnings in the first quarter. Five Below's current quarter sales outlook fell short of market expectations. 

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The cyber security company CrowdStrike reported better-than-expected quarterly results and issued strong guidance. Deere & Co. said it plans to trim its salaried and production workforce. Hewlett-Packard reported better-than-expected fiscal second quarter results.

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Intel announced the release of new artificial intelligence chips as the company played catch with rivals Nvidia and AMD. Bath & Body Works' current quarter guidance fell short of market expectations.

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Waste Management agreed to acquire Stericycle for $7.2 billion. Spotify said it plans to increase the premium subscription price in the U.S. starting in July. MarineMax is in advanced talks to be acquired by OneWater Marine. 

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Dell Technologies highlighted margin pressures. Gap reported quarterly sales rose and net income swung to a profit. MongoDB issued a cautious second quarter and annual outlook. Nordstrom is looking to take the retailer private. 

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Department store chain Kohl's reported an unexpected loss in the first quarter and cut its annual outlook as consumers avoided discretionary items. Best Buy said its effort to cut costs supported the quarterly earnings, despite sales weakness. 

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ConocoPhillips agreed to acquire Marathon Oil in an all-stock deal and increase its shale oil production capacity. Abercrombie & Fitch reported sharply higher earnings and sales as customers returned to its stores in droves.

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