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

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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