Top Stock Movers Now: Darden Restaurants, CarMax, Micron Technology, and More
Key Takeaways
Major U.S. indexes rallied at midday Thursday, rebounding from Wednesday's selloff as a report showed the U.S. economy expanded more than anticipated in the third quarter. The Dow, S&P 500, and Nasdaq all advanced.
Darden Restaurants ( DRI ) was the best-performing stock in the S&P 500, with shares trading at an all-time high after the operator of Olive Garden, Ruth's Chris, and other restaurant chains reported better-than-expected sales , powered by LongHorn Steakhouse's results.
Shares of CarMax ( KMX ) rose after the biggest used car retailer in the U.S. beat profit and sales estimates as lower prices helped boost demand.
Accenture ( ACN ) also reported results that exceeded expectations as the business management consulting firm saw increased demand from clients looking for assistance in adopting artificial intelligence (AI) tools.
Lamb Weston ( LW ) shares sank after the maker of frozen potatoes swung to a loss, cut its guidance, and announced CEO Thomas Werner stepped down .
Shares of home builders lost ground after Lennar ( LEN ) blamed high mortgage rates for its weaker-than-expected results and outlook.
Micron Technology ( MU ) shares tumbled after the chipmaker's outlook missed analysts' estimates . The company warned consumer-oriented markets could be weaker in the near-term.
Oil and gold futures fell. The yield on the 10-year Treasury advanced. The U.S. dollar was up on the pound and yen, but lost ground to the euro. Prices for most major cryptocurrencies declined.
