Kohl's, Urban Outfitters, Abercrombie&Fitch rise premarket; XPeng, Agilent fall
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Kohl’s (NYSE: KSS) stock soared 11.6% after the retailer reported a surprise profit, while maintaining its full-year profit and operating margin forecasts even as it missed first-quarter sales estimates.
Abercrombie & Fitch (NYSE: ANF) stock rose 15.8% after the clothes retailer raised its annual sales forecast, banking on steady demand for its clothes and accessories even as inflation eats into household budgets.
XPeng (NYSE: XPEV) stock fell 5.6% after the China-based EV maker reported a wider-than-expected quarterly loss, as deliveries drop nearly 50%.
Palo Alto Networks (NASDAQ: PANW) stock rose 4.7% after the cybersecurity company posted stronger-than-expected third-quarter profit, with its CEO saying AI will transform the software industry.
Urban Outfitters (NASDAQ: URBN) stock soared 13.3% after the clothes retailer reported quarterly results that topped Wall Street estimates as markups helped boost margins.
Intuit (NASDAQ: INTU) stock fell 5.2% after the business software firm reported disappointing third-quarter revenue and unveiled a weaker-than-anticipated outlook for the last quarter of its financial year.
Agilent (NYSE: A) stock fell 9.4% after the lab-equipment maker disappointed with its full-year guidance after 2Q results, prompting KeyBanc to downgrade its stance on the company to ‘sector weight’ from ‘overweight’.
Integra LifeSciences (NASDAQ: IART) stock fell 2.6% after JPMorgan downgraded the medical technology company to ‘underweight’ from ‘neutral’ after the company announced a voluntary global recall of all its products manufactured in its Boston facility.
PacWest Bancorp (NASDAQ: PACW) stock rose 4.9%, continuing to gain after the lender agreed to sell its property lending unit in its second asset sale this week to bolster its balance sheet.
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