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MARKETS LIVE BLOG:

S&P 500, NASDAQ NOTCH BIG WINS WITH TESLA EARNINGS ON DECK

Tech-focused investors prepare for fresh wave of earnings highlighted by struggling Tesla

Foot Locker, Disney, Ross Stores fall premarket; Deere rises

Investing.com
·1 min read

Investing.com -- Stocks in focus in premarket trade on Friday, May 19th. Please refresh for updates.

Foot Locker (NYSE:FL) stock slumped 25% after the footwear retailer reported weaker-than-expected results for its first quarter, and cut its full-year guidance, citing the tough macroeconomic backdrop.

Deere & Company (NYSE:DE) stock rose 3.4% after the agricultural machinery manufacturer reported strong second quarter numbers and raised its 2023 net income forecast as its order books remain robust.

Walt Disney (NYSE:DIS) stock fell 0.8% with the entertainment giant scrapping plans to build a nearly $1 billion corporate campus in central Florida as part of its ongoing legal battle with Florida Governor Ron DeSantis.

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Ross Stores (NASDAQ:ROST) stock fell 0.7% after the discount retailer forecast second quarter profit below expectations, hit by higher incentive compensations and wages, even as it raised its annual profit forecast.

Applied Materials (NASDAQ:AMAT) stock fell 1.6% after KeyBanc said it doesn’t have much room to rise after a strong run, even after the semiconductor manufacturing tools maker forecast better than expected third quarter revenue.

Catalent (NYSE:CTLT) stock fell 5.3% after the pharma company delayed its third quarter results and received a notice from the NYSE of noncompliance with listing standards.

Alibaba (NYSE:BABA) ADRs fell 1.2% after the Chinese e-commerce giant posted disappointing quarterly earnings due to sluggish consumer spending in its home country.

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