Sales Performance - Darden Restaurants reported sales of $3.1 billion for Q2 FY2026, marking a 7.3% increase from the previous year [1] - Same-store sales grew by 4.3%, driven by strong performance across major brands, with Olive Garden and LongHorn Steakhouse reporting increases of 4.7% and 5.9% respectively [1] Financial Results - The company achieved a net income of $237.2 million in Q2 FY2026, or $2.03 per share, compared to $215.7 million or $1.82 per share in the same quarter last year [2] - On an adjusted basis, diluted earnings from continuing operations were $2.08 per share, excluding costs related to restaurant closures and the acquisition of Chuy's [2] Future Outlook - Darden raised its full-year same-restaurant sales growth forecast to a range of 3.5% to 4.3%, up from a previous estimate of 2.5% to 3.5% [3] - The guidance for adjusted diluted earnings per share for FY2026 remains unchanged at $10.50 to $10.70 [3] Operational Insights - Darden's president and CEO noted that all segments delivered positive same-restaurant sales, exceeding top-line expectations [4] - The company has been enhancing delivery options through a partnership with Uber, utilizing Uber Direct's network for nationwide on-demand delivery for Olive Garden [5] - An on-demand delivery trial with Uber Technologies was initiated at Cheddar's Scratch Kitchen in March [6]

Group 1: Market Overview - Pre-market futures are up following a 25 basis points interest rate cut by the Fed, with the Dow up +230 points, S&P 500 up +51, Nasdaq up +287, and Russell 2000 up +30 points [1] - Bond yields have slightly increased, with the 10-year yield at +4.08% and the 2-year yield at +3.55% [1] Group 2: Jobless Claims - Initial Jobless Claims spiked to +264K due to a reporting disruption in Texas, marking the highest week of new claims since October 2021, but fell back to +231K for the last week [2] - Continuing Claims have decreased to 1.920 million, the lowest since May, remaining below 1.94 million for two consecutive weeks [3] Group 3: Manufacturing Index - The Philly Fed Index reported its highest monthly tally since January at +23.2, indicating five up-months and four down-months in 2025, contrasting with the negative Empire State Index of -8.7 for the same month [5] Group 4: Earnings Reports - Darden Restaurants (DRI) reported fiscal Q1 earnings of $1.97 per share, missing estimates by 3 cents, but revenues of $3.04 billion exceeded expectations, up from $2.76 billion a year ago [6] - FedEx (FDX) is expected to report earnings growth of +1.4% with a revenue increase of +0.9%, while Lennar Homes (LEN) faces tough comparisons with expected earnings growth of -45% and revenue decline of -4% [7]