Premarket Stock Movements: Darden Restaurants, MGM Resorts, BlackBerry, Meta, and Others
In premarket trading, several stocks saw significant movements. Darden Restaurants fell nearly 7% despite in-line earnings and slightly below-expected revenue of $3.2 billion. The company reaffirmed its full-year guidance. Meanwhile, shares of MGM Resorts dropped over 9% after Barry Diller's IAC withdrew a proposed acquisition offer for the casino giant. BlackBerry rose by 2%, outperforming expectations with adjusted earnings and higher-than-forecast revenue of $163.3 million. Meta declined slightly following its recent gains, as it introduced new AI-related products like VR glasses priced at $1,299. Knife River climbed nearly 5% after reports that activist investor Starboard Value has taken a significant stake in the company and is pushing for strategic changes. Gold miners also saw declines alongside falling gold futures to their lowest since mid-September. Everpure surged over 6%, buoyed by strong preliminary guidance projecting $7 billion–$7.3 billion revenue by 2028, well above analyst expectations.
Tickers: $BB $DRI $KNF $KRNY $META $MGM
Topics: acquisition_proposal_withdrawal activist_investor earnings_results stock_moves