News Summary: Darden cuts outlook

News Summary: Olive Garden, Red Lobster owner cuts profit outlook

Associated Press

BAD TASTE: Darden Restaurants Inc. is cutting its profit forecast for the year, with the owner of Olive Garden and Red Lobster blaming failed promotions and negative publicity.

SLICING PROFITS: The company expects costs related to its acquisition of the Yard House USA Inc. chain and from Superstorm Sandy to reduce profit from continuing operations by 25 or 26 cents per share.

ANALYST ANGST: Analysts had expected earnings of 46 cents per share. Darden's stock tumbled nearly 10 percent on Tuesday.

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