Check out the companies making headlines before the bell. Micron — Chip shares plunged nearly 13% in premarket trading after the chipmaker released weaker-than-expected second-quarter guidance. However, first-quarter sales were in line with analyst expectations and profits were above expectations. Lamb Weston — Shares of the frozen potato maker fell 18% after quarterly results missed expectations for sales and bottom line. Lamb Weston posted adjusted earnings of 66 cents per share on sales of $1.6 billion. That was below the $1.01 EPS and $1.67 billion in revenue expected by analysts surveyed by FactSet. The company also appointed a new CEO as it faces continued pressure from activist investor Jana Partners to change its leadership team. Darden Restaurants — parent company of The Olive Garden and LongHorn Steakhouse rose 8% after reporting stronger earnings and sales for its fiscal second quarter. Darden also raised its full-year earnings outlook. Revenue is expected to be $12.1 billion, up from the previous guidance of $11.8 billion to $11.9 billion. Analysts polled by FactSet had expected $11.97 billion. Lennar — The homebuilder fell 10.2% after first-quarter profit fell short of analysts’ expectations. Lennar earned $9.95 billion, or $4.06 per share, while analysts surveyed by LSEG had expected $4.16 and $10.08 billion, respectively. TESLA — Electric vehicle stocks rose 3% after falling more than 8% during Wednesday trading after the market sold off after the Federal Reserve signaled fewer interest rate cuts next year. Conagra Brands — The packaged food company fell 2% after lowering its fiscal year outlook. ConAgra now expects adjusted earnings for the fiscal year to be in the range of $2.45 to $2.50 per share, below its previous guidance of $2.60 to $2.65 and FactSet’s estimate of $2.58. However, Conagra reported fiscal second-quarter adjusted earnings and revenue that beat FactSet consensus. Accenture — The IT services management company soared 7% after it beat revenue expectations for its fiscal first quarter and raised its full-year outlook. Accenture said it now expects revenue growth to be between 4% and 7%, compared with previous expectations of 3% to 6%. Carmax — Shares rose more than 6% after the company’s third-quarter results beat Wall Street expectations. CarMax had revenue of $6.22 billion, or 81 cents per share, in the period. That beat the 62 cents per share and $6.05 billion in revenue expected by analysts surveyed by FactSet. Palantir — The artificial intelligence software stock rose nearly 3% after announcing an expanded partnership with the U.S. Army in a contract worth up to about $619 million. Wednesday’s selloff saw shares drop about 4%. — CNBC’s Sarah Ming, Yun Li, Alex Harring, Michelle Fox, Lisa Han and Sean Conlon contributed reporting
Stocks with the biggest moves pre-market: MU, LW, DRI
