Macy’s, Cisco, Sonos rise premarket; Kohl’s, Alibaba fall
CSCO
+4.33%
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NTES
+4.44%
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ATVI
-0.44%
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BBWI
+17.39%
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KSS
+4.08%
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M
+12.00%
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BABA
+6.57%
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SONO
+1.25%
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By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, November 17th. Please refresh for updates.
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Kohl’s (NYSE:KSS) stock fell 3% after the retailer withdrew its 2022 sales and profit forecasts, citing an uncertain economic outlook and the departure of top boss Michelle Gass.
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Macy’s (NYSE:M) stock rose 5% after the upscale department store chain raised its annual profit forecast on resilient demand from wealthier shoppers.
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Cisco (NASDAQ:CSCO) stock rose 4.2% after the company beat first quarter revenue estimates, as easing supply chain constraints helped meet demand for its broad networking products portfolio.
- Sonos (NASDAQ:SONO) stock rose 2.6% after the wireless home sound system maker beat fourth quarter earnings and revenue expectations while announcing a new common stock repurchase program of up to $100 million.
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Alibaba (NYSE:BABA) stock fell 1.3% after the Chinese e-commerce giant reported a surprise loss after a smaller-than-expected rise in quarterly revenue as COVID-19 curbs and a worsening economic outlook stifled consumer spending.
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Bath & Body Works (NYSE:BBWI) stock soared 21% after the retail chain raised its full-year guidance following stronger-than-expected third quarter results.
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Activision Blizzard (NASDAQ:ATVI) stock fell 0.9% after the video game developer announced it was ending its 14-year partnership with Chinese gaming company NetEase (NASDAQ:NTES), down 0.7%, shutting down hit games like World of Warcraft in China.