Midday movers: Take-Two Interactive Software, Netflix, Bath&Body Works and more

May 18, 2023 1:58 PM EDT -- Stocks were mixed after earnings from Walmart (NYSE: WMT) and Cisco as investors watched for signs the debt ceiling debate was nearing an agreement. Here are the market movers for May 18.

  • Take-Two Interactive Software Inc (NASDAQ: TTWO) shares rose 12% after the video game company beat revenue expectations in the recent quarter and said game releases would help boost growth for the next few years.

  • Netflix Inc (NASDAQ: NFLX) shares rose 9.6% after the streaming media giant said its new ad-supported subscription tier has about 5 million monthly active users just six months since the service started.

  • Bath&Body Works Inc. (NYSE: BBWI) shares rose 8.7% after the retailer of soaps, lotions and other products beat first-quarter expectations and raised its earnings per share guidance for the year.

  • Alibaba Group Holdings Ltd ADR (NYSE: BABA) shares fell 4.8% after the Chinese e-commerce giant said it would spin off its cloud business, including artificial intelligence, in a dividend distribution. It also talked about initial public offerings for other businesses.

  • Cisco Systems Inc (NASDAQ: CSCO) shares dipped 0.4% after the networking equipment maker said orders fell 23% in the recent quarter, a possible sign of weakness in demand for technology on a broader scale.

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