Palo Alto, Deckers, Apple Rise Premarket; Ross Stores, Deere Fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, May 20th. Please refresh for updates.
Ross Stores (NASDAQ:ROST) stock fell over 24% after the discount retailer cut its outlook for profit and sales, with the company citing an “extremely challenging” external environment with the Russia-Ukraine conflict exacerbating inflationary pressures.
Palo Alto Networks (NASDAQ:PANW) stock rose 12% after the cybersecurity company raised its annual guidance after reporting better-than-expected fiscal third quarter results.
Deckers Outdoor (NYSE:DECK) stock rose 16% after the footwear company beat quarterly expectations and upbeat full-year guidance, saying the company is "well positioned to drive continued top-line growth and high levels of profitability."
Apple (NASDAQ:AAPL) stock rose 1.6% after influential analyst Dan Ives at Wedbush said the iPhone maker was a good place for investors to ride out the current storm, with the stock down over 17% year-to-date.
Deere & Company (NYSE:DE) stock fell 6.0% after the farm equipment maker missed expectations for quarterly revenue even as it raised its annual profit forecast. The stock is up over 6% year-to-date.
Applied Materials (NASDAQ:AMAT) stock fell 1.1% after the chipmaker missed expectations with its quarterly earnings and disappointed with its guidance, citing “on-going supply chain issues.”
Foot Locker (NYSE:FL) stock rose 3% after the athletic footwear retailer beat expectations for quarterly profit while same-store sales fell by less than half of what was anticipated.
DoorDash (NYSE:DASH) stock rose 3.3% after the food delivery company announced the approval of a $400 million stock buyback program.
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