Kohl's, Urban Outfitters, Abercrombie & Fitch rise premarket; XPeng, Agilent fall

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Investing.com -- Stocks in focus in premarket trade on Wednesday, May 24th. Please refresh for updates.

• Kohl’s (NYSE:KSS) stock soared 11.6% after the retailer reported a surprise profit, while maintaining its full-year profit and operating margin forecasts even as it missed first-quarter sales estimates.

• Abercrombie & Fitch (NYSE:ANF) stock rose 15.8% after the clothes retailer raised its annual sales forecast, banking on steady demand for its clothes and accessories even as inflation eats into household budgets.

• XPeng (NYSE:XPEV) stock fell 5.6% after the China-based EV maker reported a wider-than-expected quarterly loss, as deliveries drop nearly 50%.

• Palo Alto Networks (NASDAQ:PANW) stock rose 4.7% after the cybersecurity company posted stronger-than-expected third-quarter profit, with its CEO saying AI will transform the software industry.

• Urban Outfitters (NASDAQ:URBN) stock soared 13.3% after the clothes retailer reported quarterly results that topped Wall Street estimates as markups helped boost margins.

• Intuit (NASDAQ:INTU) stock fell 5.2% after the business software firm reported disappointing third-quarter revenue and unveiled a weaker-than-anticipated outlook for the last quarter of its financial year.

• Agilent (NYSE:A) stock fell 9.4% after the lab-equipment maker disappointed with its full-year guidance after 2Q results, prompting KeyBanc to downgrade its stance on the company to ‘sector weight’ from ‘overweight’.

• Integra LifeSciences (NASDAQ:IART) stock fell 2.6% after JPMorgan downgraded the medical technology company to ‘underweight’ from ‘neutral’ after the company announced a voluntary global recall of all its products manufactured in its Boston facility.

• PacWest Bancorp (NASDAQ:PACW) stock rose 4.9%, continuing to gain after the lender agreed to sell its property lending unit in its second asset sale this week to bolster its balance sheet.