Check out the companies making headlines before the market opens. Micron Technology (Micron) — Chip stocks plunged nearly 13% in premarket trading after the chipmaker issued weaker-than-expected second-quarter guidance. First-quarter revenue was in line with analysts’ expectations, but profit exceeded expectations. Lamb Weston — The frozen potato maker reported quarterly results that missed revenue and profit estimates, sending its shares down 18%. Lamb Weston reported adjusted earnings of 66 cents per share on revenue of $1.6 billion. That was lower than the $1.01 per share earnings and $1.67 billion in revenue expected by analysts polled by FactSet. The company also named a new chief executive as it faces continued pressure from activist investor Jana Partners to replace its leadership team. Darden Restaurant, the parent company of Olive Garden and LongHorn Steakhouse, rose 8% after reporting better-than-expected second-quarter profit and revenue. Darden also raised its full-year revenue guidance. Revenue is now expected to be $12.1 billion, up from previous guidance of $11.8 billion to $11.9 billion. Analysts polled by FactSet expected guidance of $11.97 billion. Lennar — The homebuilder’s first-quarter profit fell short of analysts’ expectations, sending its shares down 10.2%. Lennar earned $4.06 per share on revenue of $9.95 billion, while analysts polled by LSEG expected earnings of $4.16 per share and $10.08 billion, respectively. Tesla – The electric car stock rose 3% after falling more than 8% on Wednesday as the market sold off after the Federal Reserve signaled smaller interest rate cuts next year. Conagra Brands — The packaged foods company fell 2% after lowering its fiscal year forecast. Conagra now expects its fiscal year adjusted earnings per share to be $2.45 to $2.50, down from previous guidance of $2.60 to $2.65 and the FactSet estimate of $2.58. However, ConAgra reported fiscal second-quarter adjusted profit and revenue that beat the FactSet consensus. Accenture — The IT services management company’s shares surged 7% after beating its fiscal first-quarter revenue forecast and raising its full-year guidance. Accenture said it now expects revenue to grow 4% to 7%, compared with its previous forecast of 3% to 6%. Carmax — Shares of Carmax rose more than 6% after the company’s third-quarter results beat Wall Street expectations. Carmax earned 81 cents per share on revenue of $6.22 billion. That was higher than the 62 cents a share and revenue of $6.05 billion expected by analysts polled by FactSet. Palantir—The artificial intelligence software company announced an expansion of its partnership with the U.S. Army, with a contract worth approximately $619 million, sending its stock price up nearly 3%. The company’s shares fell about 4% in Wednesday’s selloff. —CNBC’s Sarah Min, Yun Li, Alex Harring, Michelle Fox, Lisa Han and Sean Conlon contributed reporting
