LIVE MARKETS-Early reports for Q3 earnings season look mixed

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EARLY REPORTS FOR Q3 EARNINGS SEASON LOOK MIXED

Early earnings reports out this week for the third reporting season of the year have been mixed, including stronger-than-expected results from FedEx FDX.N and a disappointing report from homebuilder Lennar LEN.N, both from late Thursday.

Also, Darden Restaurants DRI.N on Thursday morning missed Wall Street's estimates for its fiscal first-quarter earnings.

Shares of FedEx are nearly 3% higher after midday Friday, while Lennar is down 4%. Darden is down about 3.5%, extending Thursday's decline.

Still, estimated third-quarter earnings growth for all S&P 500 companies, at 8.6%, is up slightly compared with a week ago's 8.5%, according to LSEG data.

Estimated third-quarter growth was at 8% back on July 1.

FedEx also gave an upbeat outlook for 2026, which came as a surprise to investors worried about the impact of U.S. President Donald Trump's tariff war. Cost-cutting measures helped to offset a tariff-induced decline in international volumes.

(Caroline Valetkevitch)

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