Walmart, Take-Two and Canada Goose rise premarket; Cisco falls

May 18, 2023 8:14 AM EDT -- Stocks in focus in premarket trade on Thursday, May 18th. Please refresh for updates.

  • Walmart (NYSE: WMT) stock rose 1.6% after the retail giant raised its full-year guidance and reported better-than-expected results for the first quarter, helped by demand from price-conscious shoppers.

  • Bath & Body Works (NYSE: BBWI) stock rose 9.8% after the specialty retailer beat first quarter profit expectations, as higher product prices outweighed cost pressures and a slowdown in demand.

  • Alibaba (NYSE: BABA) ADRs fell 1.1% after the Chinese e-commerce giant posted a rise of 2% in fourth quarter revenue, weaker than expected as the country’s consumer spending growth remains relatively muted.

  • Cisco (NASDAQ: CSCO) stock fell 3.9% after the tech company said a large backlog of products due to supply chain constraints has hit demand for new orders from customers.

  • Take-Two (NASDAQ: TTWO) stock soared 12% after the video game publisher beat quarterly sales estimates on strong demand from legacy titles "NBA 2K" and "Grand Theft Auto."

  • Micron (NASDAQ: MU) stock rose 2% after the semiconductor announced plans to invest up to ¥500 billion ($1 = ¥137.75) in extreme ultraviolet technology over the next few years with support from the Japanese government.

  • Canada Goose (NYSE: GOOS) stock rose 10% after the luxury winter wear retailer forecast annual sales growth above estimates, expecting a sharp rebound in key luxury market China to overshadow a slowdown in U.S. demand.

  • Western Alliance (NYSE: WAL) stock rose 2.8% and PacWest Bancorp (NASDAQ: PACW) stock climbed 6.9% as investors returned to these battered regional lenders in hope that the worst of the country’s banking turmoil was over.

  • Charles Schwab (NYSE: SCHW) stock rose 0.2% after the brokerage firm announced plans to raise up to $2.5B through a debt offering.

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