Darden Restaurants (DRI) have surged to a new all-time high today after the Olive Garden’s parent company reported better-than-expected earnings, raised its guidance and made an acquisition


Shares of Darden Restaurants (DRI) have surged to a new all-time high today after the Olive Garden’s parent company reported better-than-expected earnings, raised its guidance and made an acquisition. Darden reported a profit of $1.32 a share, beating forecasts for $1.27 a share, on sales of $1.88 billion, just topping estimates for $1.87 billion. Darden also said it would earn between $3.95 and $4 during the company’s fiscal year, up from its previous guidance of $3.87 to $3.97. Darden also said it bought Cheddar’s Scratch Kitchen for $780 million. Oppenheimer’s Brian Bittner and Michael Tamas call it a “beat & raise with an accretive acquisition on the side.”

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