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Gap, Foot Locker, Ross Stores rise premarket; Williams-Sonoma falls

Investing.com
·1-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, November 18th. Please refresh for updates.

Gap (NYSE:GPS) stock rose 8.9% after the retail chain beat quarterly sales and profit expectations, helped by steady demand for its formal clothing and dresses from affluent consumers despite a surge in inflation.

Foot Locker (NYSE:FL) stock rose 14% after the sportswear company lifted its full-year expectations after reporting an unexpected rise in same-store sales in the third quarter.

JD.com (NASDAQ:JD) stock rose 1.4% after the Chinese e-commerce company reported strong quarterly results as Covid-related lockdowns in China prompted more consumers to shop online.

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Ross Stores (NASDAQ:ROST) stock rose 16% after the discount retailer raised its full-year profit forecast after its third-quarter results beat expectations, despite higher prices and expected markdowns for the holiday season.

Williams-Sonoma (NYSE:WSM) stock fell 8.4% after the home and kitchen retailer declined to reiterate or update guidance through fiscal year 2024, citing macro uncertainty.

Palo Alto Networks (NASDAQ:PANW) stock rose 9.2% after the cybersecurity company beat third-quarter estimates and announced the acquisition of Cider Security for $195 million in cash.

Walgreens Boots (NASDAQ:WBA) stock rose 2% after JPMorgan upgraded its stance on the pharmacy chain to ‘overweight’ from ‘neutral’, citing its shift toward a larger health care operation.

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