Investing.com -- Stocks in focus in premarket trade on Thursday, May 18th. Please refresh for updates.
Walmart (NYSE: WMT ) stock rose 1.6% after the retail giant raised its full-year guidance and reported better-than-expected results for the first quarter, helped by demand from price-conscious shoppers.
Alibaba (NYSE: BABA ) ADRs fell 1.1% after the Chinese e-commerce giant posted a rise of 2% in fourth quarter revenue, weaker than expected as the country’s consumer spending growth remains relatively muted.
Cisco (NASDAQ: CSCO ) stock fell 3.9% after the tech company said a large backlog of products due to supply chain constraints has hit demand for new orders from customers.
Micron (NASDAQ: MU ) stock rose 2% after the semiconductor announced plans to invest up to ¥500 billion ($1 = ¥137.75) in extreme ultraviolet technology over the next few years with support from the Japanese government.
Canada Goose (NYSE: GOOS ) stock rose 10% after the luxury winter wear retailer forecast annual sales growth above estimates, expecting a sharp rebound in key luxury market China to overshadow a slowdown in U.S. demand.
Western Alliance (NYSE: WAL ) stock rose 2.8% and PacWest Bancorp (NASDAQ: PACW ) stock climbed 6.9% as investors returned to these battered regional lenders in hope that the worst of the country’s banking turmoil was over.
Charles Schwab (NYSE: SCHW ) stock rose 0.2% after the brokerage firm announced plans to raise up to $2.5B through a debt offering.
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