Darden (DRI) reported an earnings miss in the past hour. The restaurant group made 53-cents a share when expectations were for 70-cents. Revenue was also slightly lower than the consensus of $2.2-billion. Profit numbers are down dramatically since last year, though revenue is up. Also of note, the company COO is retiring at the end of the current quarter. Prior to this morning, shares of Darden are up 9% year to date, largely on a climb since the start of September.
Uniform-seller Cintas (CTAS) is up more than 3% on its earnings. The company missed estimates by a nickel, posting profits of 63-cents a share. However it matched on revenues which were $1.12 billion. It also reaffirmed its guidance moving forward. Shares of Cintas are up 27% year-to-date and sitting at their highest level in about a decade.
Tesla (TSLA) is up fractionally this morning. The stock jumped another 7% yesterday to $177 after Deutchse Bank gave it a price target of $200 a share. The move puts the stock up more than 400% this year. The electric automaker has one of the most shorted stocks, and has proven to be quite volatile.
J.C. Penney (JCP) which fell another 2.3% yesterday. Dow Jones reports that Vornado Realty Trust is selling its entire stake in the company-- which comes to more than 13-million shares. Also, designer Allen Schwartz says he won't be renewing his deal with the retailer. J.C. Penney stock is now down 37% year-to-date.
- Investment & Company Information