It's been a busy day for the market so far. Let's go over some of the biggest movers as of Thursday afternoon.
Shares jumped some 9% to $28.59 shortly after 2 p.m. ET after the grocery giant posted fiscal first-quarter sales of $37.5 billion, up 3.4% from a year earlier. Adjusted earnings were 73 cents a share, 10 cents ahead of analysts' estimates. KR also raised the low end of its guidance for the fiscal year.
Adjusted fourth-quarter earnings totaled $1.39 a share, topping FactSet analysts' expectations of $1.35 and up 17% from a year earlier. Revenue came in at $2.13 billion, in line with expectations, but ahead of the $1.93 billion reported in the same period a year earlier.
For the full fiscal year ended May 31, Darden tallied earnings of $4.81 a share, up nearly 20% from a year ago and slightly topping analysts' estimates. Revenue was $8.1 billion, up 12.7% from a year earlier and in line with expectations.
Operating profit margins rose at Olive Garden, which is Darden's largest chain, with 856 locations. Snagging sales that grow faster than operating costs is typically difficult to do when seeing inflation and offering steep discounts, a practice for which Olive Garden has long been known.
Darden shares have gained 8.6% year to date and shares some 23.8% in the last three months.
Stitchfix Inc. (SFIX) was looking strong for the second day in a row, was up 7% to $29 a share in afternoon trading.
The news that Oprah Winfrey was interested in investing in the clothing service shot shares up on Wednesday.
In a case involving furniture online retailer Wayfair but likely applicable across the industry, the court ruled 5-4 that online vendors must collect these taxes on online purchases made through their Web sites.
Sirius XM Holdings Inc. (XM) dropped more than 5% to $7.11 after Goldman Sachs lowered its rating on the streaming-radio company to a "Sell."
Intel Corp. (INTC) is down more than 2% to $52.29 after CEO Brian Krzanich resigned after word emerged that he had a previous romantic relationship with a staffer. Once Intel's board found out, it quickly pushed Krzanich to resign.