Darden Restaurants (NYSE:DRI) said it plans to separate its struggling Red Lobster business from the rest of its casual dining chain as it also said it plans to suspend acquisitions and expansion. The company, which also owns the Olive Garden and LongHorn Steakhouse chains, said a sale of Red Lobster is also possible, though the separation is likely to occur through a tax-free spinoff. Shares fell almost 5% on Thursday.
Rite Aid (NYSE:RAD) shares shed 9% Thursday after reporting fiscal third quarter results and cutting its per share earnings outlook for the year.
Last night, Oracle (NYSE:ORCL) reported quarter results that beat expectations on both the top and bottom lines, with shares rising over 4.8%.
After the closing bell today, Nike (NYSE:NKE) is slated to report quarterly results.
In other news, shares of Facebook (NASDAQ:FB) slid 2% after it said it plans a public offering of 70 million Class A shares, with 27 million coming from Facebook. The remaining 43 million will come from major shareholders, with the majority -- 41.35 million shares worth about $2.3 billion -- to be offered by founder and CEO Mark Zuckerberg to meet tax obligations. The company said it would use the proceeds for working capital.
Target (NYSE:TGT) is reportedly investigating a security breach involving stolen credit card and debit card information on millions of its customers that shopped during the Black Friday weekend. The theft may have occurred through software installed at machines that customers use to swipe their cards when paying. Shares were off over 2%.
Tesla (NASDAQ:TSLA) fell 4% on word it is disputing a California fire department finding that a Model S charging system may have started a garage fire.
AstraZeneca (NYSE:AZN) has agreed to acquire Bristol-Myers Squibb's (NYSE:BMY) holding the companies' diabetes joint venture in a deal valued at up to $4.1 billion. The move will bulk up Astra's drug portfolio at a time when it's being hit by patent expirations, while giving Bristol more funds to invest in other areas.
General Electric (NYSE:GE) said it expects profits from its aviation, healthcare and other industrial units to rise at least 10% next year, with overall earnings forecast to rise in the single digits. Shares fell 1% premarket.
Reported by Proactive Investors 45 minutes ago.
Rite Aid (NYSE:RAD) shares shed 9% Thursday after reporting fiscal third quarter results and cutting its per share earnings outlook for the year.
Last night, Oracle (NYSE:ORCL) reported quarter results that beat expectations on both the top and bottom lines, with shares rising over 4.8%.
After the closing bell today, Nike (NYSE:NKE) is slated to report quarterly results.
In other news, shares of Facebook (NASDAQ:FB) slid 2% after it said it plans a public offering of 70 million Class A shares, with 27 million coming from Facebook. The remaining 43 million will come from major shareholders, with the majority -- 41.35 million shares worth about $2.3 billion -- to be offered by founder and CEO Mark Zuckerberg to meet tax obligations. The company said it would use the proceeds for working capital.
Target (NYSE:TGT) is reportedly investigating a security breach involving stolen credit card and debit card information on millions of its customers that shopped during the Black Friday weekend. The theft may have occurred through software installed at machines that customers use to swipe their cards when paying. Shares were off over 2%.
Tesla (NASDAQ:TSLA) fell 4% on word it is disputing a California fire department finding that a Model S charging system may have started a garage fire.
AstraZeneca (NYSE:AZN) has agreed to acquire Bristol-Myers Squibb's (NYSE:BMY) holding the companies' diabetes joint venture in a deal valued at up to $4.1 billion. The move will bulk up Astra's drug portfolio at a time when it's being hit by patent expirations, while giving Bristol more funds to invest in other areas.
General Electric (NYSE:GE) said it expects profits from its aviation, healthcare and other industrial units to rise at least 10% next year, with overall earnings forecast to rise in the single digits. Shares fell 1% premarket.
Reported by Proactive Investors 45 minutes ago.