Darden's most recent trend suggests a bullish bias. One trading opportunity on Darden is a Bull Put Spread using a strike $55.00 short put and a strike $47.00 long put offers a potential 15.94% return on risk over the next 23 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $55.00 by expiration. The full premium credit of $1.10 would be kept by the premium seller. The risk of $6.90 would be incurred if the stock dropped below the $47.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Darden is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Darden is bullish.
The RSI indicator is at 55.33 level which suggests that the stock is neither overbought nor oversold at this time.
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LATEST NEWS for Darden
Darden Restaurants Announces Pricing of 7,826,087 Shares of its Common Stock
Tue, 21 Apr 2020 01:25:00 +0000
Darden Restaurants, Inc. (NYSE: DRI) today announced that it has priced its public offering of 7,826,087 shares of its common stock, without par value, at a public offering price of $58.50 per share. In addition, Darden has granted the underwriters an option to purchase up to an additional 1,173,913 shares of its common stock at the public offering price. Darden intends to use the net proceeds from the offering for general corporate purposes. The offering is expected to close on April 23, 2020.
Olive Garden operator to raise $400 million in equity offering, stock falls
Mon, 20 Apr 2020 20:47:00 +0000
Olive Garden operator Darden Restaurants Inc. said late Monday that it had begun to sell $400 million of stock and said that same-restaurant sales had declined 44.7% during the fourth quarter. Darden stock was down 3.1% in the extended session. The restaurant operator said that it had improved its weekly cash burn rate to $20 million, including capital expenditures. Darden said that the underwriters have the option to purchase an additional $60 million worth of stock. Shares of Darden closed down 2.5% to $61.79 during regular trading Monday.
Darden Restaurants Announces Public Offering of Common Stock
Mon, 20 Apr 2020 20:25:00 +0000
Darden Restaurants, Inc. (NYSE: DRI) today announced that it has commenced an underwritten public offering of $400 million of shares of its common stock, without par value. In addition, Darden expects to grant the underwriters an option to purchase up to an additional $60 million of shares of its common stock. Darden intends to use the net proceeds from the offering for general corporate purposes.
Darden Restaurants Provides Business Update
Mon, 20 Apr 2020 20:16:00 +0000
Darden Restaurants, Inc., (NYSE: DRI) today provided an update of certain business results given the dynamic environment resulting from COVID-19.
These 44 businesspeople will help Orange County restart the local economy post-pandemic
Fri, 17 Apr 2020 21:20:08 +0000
Orange County has named 44 Central Florida businesspeople as part of its new planning group to help restart the local economy. The Orange County Economic Recovery Task force will have its first meeting virtually on April 22 from 9:30-10:30 a.
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