Diamonds and Dogs
People are going out to dine. Darden Restaurants (DRI), the parent of Olive Garden, is up 5% to new highs after beating earnings estimates, raising guidance, raising their dividend and unveiled a stock buyback. Sales jumped 51% from a year earlier to $2.31 billion.
Rite Aid (RAD) trades lower following earnings. Rite Aid is down 7% to an eight-month low even though earnings beat. Sales missed estimates as pharmacy services revenue fell 6.9% to $1.9 billion with declining membership in the pharmacy benefits management business and Elixir insurance.
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