Kohl's, Tapestry, Estée Lauder Fall Premarket; Cisco, BJ's Wholesale Rise

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Kohl's, Tapestry, Estée Lauder Fall Premarket; Cisco, BJ's Wholesale Rise

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, August 18th. Please refresh for updates.

  • Bed Bath & Beyond (NASDAQ: BBBY ) stock fell 10.5% after investor Ryan Cohen filed for a proposed sale of his stake in the struggling home goods retailer.

  • Kohl's (NYSE: KSS ) stock fell 8.1% after the retailer cut its full-year forecasts, squeezed by steeper discounts and higher costs amid dwindling demand for clothing and shoes in the face of high inflation .

  • BJ's Wholesale (NYSE: BJ ) stock rose 6% after the warehouse retailer beat quarterly expectations , with comparable sales climbing much more than forecast.

  • Tapestry (NYSE: TPR ) stock fell 2.2% after the luxury retailer forecast full-year earnings below estimates after reporting lower-than-expected quarterly revenue as lockdowns in China hurt sales of its designer handbags and clothing.

  • Estée Lauder (NYSE: EL ) stock fell 1.5% after the cosmetic giant issued disappointing full-year sales and profit forecasts, due to a hit from COVID-19-related lockdowns in major market China.

  • Cisco Systems (NASDAQ: CSCO ) stock rose 5.2% after the tech company beat quarterly expectations , allowing it to provide an upbeat full-year sales forecast as a COVID-19 recovery in China eases supply chain shortages and helps it meet demand for networking hardware.

  • Wolfspeed (NYSE: WOLF ) stock soared 22% after the semiconductor products maker delivered a better-than-expected outlook after reporting a narrower than expected loss in the fourth quarter as a jump in business wins boosted performance.

  • DCP Midstream (NYSE: DCP ) stock rose 7.1% after Phillips 66 (NYSE: PSX ), up 1%, offered to buy the public units of the pipeline operator, valuing it at $7.2 billion.

  • Keysight Technologies (NYSE: KEYS ) stock rose 5.7% after the network company reported strong third quarter results .

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