Foot Locker, Disney, Ross Stores fall premarket; Deere rises

May 19, 2023 8:16 AM EDT -- Stocks in focus in premarket trade on Friday, May 19th. Please refresh for updates.

  • Foot Locker (NYSE: FL) stock slumped 25% after the footwear retailer reported weaker-than-expected results for its first quarter, and cut its full-year guidance, citing the tough macroeconomic backdrop.

  • Deere & Company (NYSE: DE) stock rose 3.4% after the agricultural machinery manufacturer reported strong second quarter numbers and raised its 2023 net income forecast as its order books remain robust.

  • Walt Disney (NYSE: DIS) stock fell 0.8% with the entertainment giant scrapping plans to build a nearly $1 billion corporate campus in central Florida as part of its ongoing legal battle with Florida Governor Ron DeSantis.

  • Ross Stores (NASDAQ: ROST) stock fell 0.7% after the discount retailer forecast second quarter profit below expectations, hit by higher incentive compensations and wages, even as it raised its annual profit forecast.

  • Applied Materials (NASDAQ: AMAT) stock fell 1.6% after KeyBanc said it doesn’t have much room to rise after a strong run, even after the semiconductor manufacturing tools maker forecast better than expected third quarter revenue.

  • Catalent (NYSE: CTLT) stock fell 5.3% after the pharma company delayed its third quarter results and received a notice from the NYSE of noncompliance with listing standards.

  • Alibaba (NYSE: BABA) ADRs fell 1.2% after the Chinese e-commerce giant posted disappointing quarterly earnings due to sluggish consumer spending in its home country.

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