Stock Movers: Carmax, Darden, Accenture

On this episode of Stock Movers: - CarMax (KMX) shares rise 10% ahead of the bell after the used-car seller reported comparable sales and earnings per share for the first quarter that beat consensus estimates. - Shares of Darden (DRI,) the parent company of casual dining chains Olive Garden and LongHorn Steakhouse, are up 3.3% in premarket trading after the company reported comparable sales growth for the fourth quarter that topped the average analyst estimate. The company's board also authorized a new share repurchase program worth up to $1 billion of common stock. - Accenture (ANC) shares are down 4% in premarket trading, after the IT services company reported its third-quarter results and gave an outlook. Analysts highlighted bookings as a weak spot of the print. - Circle Internet Group (CRCL) shares are set to extend gains, rising 14% in premarket trading. The stablecoin issuer rallied almost 34% on Wednesday after the US Senate passed stablecoin legislation setting up regulatory rules for crypto currencies pegged to the dollar.

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New rule-busting text circulating for Republican megabill

E&E News

23 minutes ago

E&E News

New rule-busting text circulating for Republican megabill

New language being floated for the Republicans' megabill would halt proposed federal regulations that generate financial impacts not explicitly authorized by Congress. Text obtained by POLITICO's E&E News that is currently under review by the Budget Committee would authorize the White House to review all proposed agency rules with 'a non-negligible budgetary effect.' Rules that would spend more than $100 million, and are not directly tied to a law authorizing such spending, would be cut. The text, which could be added to the budget reconciliation bill through an amendment or another procedure, is reminiscent of the 'Regulations from the Executive in Need of Scrutiny (REINS) Act,' which would give Congress final say over all major federal rules. Advertisement Energy and Natural Resources Chair Mike Lee (R-Utah) has been working on what he calls 'REINS-lite,' a version of the legislation intended to be more budgetary so it conforms with reconciliation rules.