Macy's, Cisco, Sonos rise premarket; Kohl's, Alibaba fall

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Macy's, Cisco, Sonos rise premarket; Kohl's, Alibaba fall
Credit: © Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, November 17th. Please refresh for updates.

  • 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.

  • Macy's (NYSE: M ) stock rose 5% after the upscale department store chain raised its annual profit forecast on resilient demand from wealthier shoppers.

  • 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.
  • 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.

  • Bath & Body Works (NYSE: BBWI ) stock soared 21% after the retail chain raised its full-year guidance following stronger-than-expected third quarter results .

  • 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.

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