Accenture, Gartner Stocks Pressured by Government Spending Cuts | Global News Avenue

Major U.S. stock indexes fell Thursday, earnings released a day before the Federal Reserve said benchmark interest rates would remain current. Although decision makers Maintain their predictions Fed officials are cautious about inflation and the economy over the two cuts this year.

S&P 500 S&P (S&P 500) glides 0.2%. The Nasdaq lost 0.3%, while the Dow Jones lost less than 0.1%.

Accenture (ACN) Stocks fell 7.3%, with the most of all S&P 500 stocks after professional services companies. Missed sales and profit estimates Fiscal in the second quarter. Consulting CEO Julie Sweet pointed out that the Trump administration is concerned about the negative revenue impact of reducing government spending. Analysts at Jefferies and Morgan Stanley entered the earnings release and lowered their target targets for Accenture stock, citing the perception and flexibility of the company’s clients in discretionary spending.

Research and consulting firm Gartner (it) also faces headwinds related to government efficiency measures and spending cuts. On Wednesday, UBS analysts lowered their target targets for Gartner stock, noting that a rough business environment could increase revenue for service providers, especially their government-oriented businesses. Gartner shares fell 6.8% today.

Microchip technology (MCHP) The share price fell 6.5%. Semiconductor Manufacturer Recruiting financial services company Macquarie Group To help sell manufacturing plants in Tempe, Arizona. In addition, Microchip announced a $1.35 billion convertible stock, prompting rating agency Moody’s to lower its rating on the company’s senior unsecured debt.

Shares of Daden Restaurant (dri) After Longhorn Steakhouse’s parent company, the standard standard reached the highest daily performance of the 500 S&P 500, jumping 5.8% Post results Third quarter. Although quarterly sales do not exceed estimates, adjusted earnings match the forecast, Darden’s CEO said the company wants customers to continue dining despite uncertain economic conditions. The company has also expanded its partnership with Uber (Uber), announced a pilot program to offer Uber Eats delivery to 10 cheddar restaurants.

Electronics Manufacturer Jabil (JBL) released more than expected quarterly sales and profits, with its stock rising 3.1%. Board manufacturers tout strength in various markets, including cloud and data center infrastructure. Jabil also canceled sales and profit guidance throughout the year as strong AI demand drives sales of its semiconductor manufacturing and testing equipment.

Allstate(all) Stocks rose 2.6%, and the stock scored a record after the monthly results of insurance companies were released in February. The company estimated the disaster losses of $92 million for the month, down from the estimated disaster losses of more than $1 billion last month, reflecting the impact of California’s devastating wildfires. The company also reported a month-on-month increase in Allstate protection policies.