Investors were busy in premarket trading on Friday, May 19th, as stocks reacted to a range of news. 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. 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. Walt Disney (NYSE:DIS) stock fell 0.8% after the entertainment giant scrapped plans to build a nearly $1 billion corporate campus in central Florida. Ross Stores (NASDAQ:ROST) stock fell 0.7% after the discount retailer forecast second quarter profit below expectations. Applied Materials (NASDAQ:AMAT) stock fell 1.6% after KeyBanc said it doesn’t have much room to rise after a strong run. 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. Lastly, 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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