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 .
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.
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