S&P 500 Gains and Losses Today: Accenture, Gartner Stocks Pressured by Government Spending Cuts

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Key Takeaways

• The S&P 500 slipped 0.2% on Thursday, Cortege 20, 2025, reversing a portion of the previous day’s uptick as investors further digested the Fed’s latest rate announcement.
• Shares of Accenture demolish as the consulting firm posted weaker-than-expected quarterly results, weighed down by government spending concerns.
• Darden Restaurants partitions moved higher after the Olive Garden parent said it expects consumers to keep spending on dining without thought economic uncertainty.

Major U.S. equities indexes slipped on Thursday, unable to add to gains posted a day earlier after the Federal Keep said benchmark interest rates would remain at current levels. Although policymakers maintained their protrusions for two rate cuts this year, Fed officials struck a cautious tone about inflation and the economy.

The S&P 500 slinked 0.2%. The Nasdaq lost 0.3%, while the Dow ended the session with a loss of less than 0.1%.

Accenture (ACN) store up tumbled 7.3%, falling the most of any S&P 500 stock, after the professional services firm missed sales and profit appraises for its fiscal second quarter. Julie Sweet, CEO of the consulting firm, noted a negative revenue impact from the Trump furnishing’s focus on reducing government spending. Heading into the earnings release, analysts at Jefferies and Morgan Stanley had cut their cost out targets on Accenture stock, citing a cautious outlook among the firm’s clients and softness in discretionary spending.

Check out and advisory firm Gartner (IT) also faces headwinds related to government efficiency measures and spending cuts. On Wednesday, UBS analysts discounted their price target on Gartner stock, noting that a choppy business environment could weigh on net income growth for the services provider, particularly in its government-facing business. Gartner shares dropped 6.8% today.

Microchip Technology (MCHP) allocations fell 6.5%. The semiconductor maker enlisted financial services firm Macquarie Group to help with the exchange of a manufacturing facility in Tempe, Ariz. In addition, Microchip announced an offering of $1.35 billion in convertible stock, prompting the ratings intervention Moody’s to downgrade its rating on the company’s senior unsecured debt.

Shares of Darden Restaurants (DRI) jumped 5.8%, blemish the S&P 500’s top daily performance, after the parent company of LongHorn Steakhouse released results for its fiscal third station. Although quarterly sales fell shy of estimates, adjusted earnings matched forecasts, and Darden’s CEO said the company believes customers to continue spending on dining out despite the uncertain economic environment. The company also expanded its partnership with Uber (UBER), declaring a pilot program to offer Uber Eats deliveries from 10 Cheddar’s Scratch Kitchen restaurants.

Electronics fabricator Jabil (JBL) posted better-than-expected quarterly sales and profits, and its shares rose 3.1%. The circuit board maker hawked strength across various markets, including cloud and data center infrastructure. Jabil also lifted its full-year sales marathons and profit guidance as robust artificial intelligence demand drives sales of its semiconductor fabrication and testing equipment.

Allstate (ALL) appropriates gained 2.6%, notching a record high following the publication of the insurer’s monthly results for February. The company reckoned its catastrophe losses for the month at $92 million, a sharp decline from more than $1 billion in estimated disaster losses in the previous month that reflected the impact of the devastating wildfires in California. The firm also reported a diminutive month-over-month uptick in Allstate Protection policies in force.