Accenture and Kroger shares hit multi-year lows following disappointing earnings reports, while Intuit shares plummeted after a rating downgrade. Accenture's stock fell approximately 18% after reporting fiscal Q3 revenue of $18.7 billion and issuing a cautious full-year growth outlook of 3%–4%. The company's decision to cut its annual revenue forecast triggered a sharp sell-off that negatively impacted stocks across the IT sector.
Accenture stock faced a sharp sell-off as the company lowered its annual revenue guidance, signaling a broader slowdown in enterprise IT services spending.
Read the full storyAccenture stock dropped 18% after reporting $18.7 billion in Q3 revenue and lowering its full-year growth guidance to 3%–4% amid macroeconomic headwinds.
Accenture shares opened at a nine-year low and Kroger hit a 52-week bottom following disappointing earnings, while a Stifel downgrade pressured Intuit.