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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, DOWNBEAT GDP

Caterpillar sinks 7% after earnings, management sees weakness in Europe, Asia-Pacific

Walmart, Take-Two and Canada Goose rise premarket; Cisco falls ;

Investing.com
·2 min read

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.

Bath & Body Works (NYSE:BBWI) stock rose 9.8% after the specialty retailer beat first quarter profit expectations, as higher product prices outweighed cost pressures and a slowdown in demand.

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.

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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.

Take-Two (NASDAQ:TTWO) stock soared 12% after the video game publisher beat quarterly sales estimates on strong demand from legacy titles "NBA 2K" and "Grand Theft Auto."

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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