This morning, Darden Restaurants (NYSE:DRI) reported fiscal second quarter earnings of $19.8 million, or 15 cents per share, as revenue climbed to $2.05 billion. Excluding one-time items, the company would have earned 20 cents per share, matching Wall Street estimates. In the report, Darden noted that it is looking to enhance shareholder value by either spinning off or selling Red Lobster with a deal likely to close sometime in early fiscal 2015. Darden also lowered its fiscal 2014 guidance to 15-20% below the prior year's earnings -- a significant increase compared to the 3-5% the company previously predicted. On the news, shares of Darden were lower by 2.7% in early trading.
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