Stocks in focus in premarket trading on Thursday:
• Walmart (NYSE:WMT) stock rose 1.7% in premarket trade by 8:20 AM ET (11:20 GMT) after reporting better-than-expected third quarter sales in the U.S., while sales in its grocery business also picked up. The company also raised its annual earnings outlook.
• Viacom (NASDAQ:VIA) stock gained 3.8% after the media company beat earnings and revenue estimates due to an increase in domestic advertising revenue.
• Canopy Growth (TSX:WEED) stock slumped 8% after the Canadian cannabis producer’s loss came in much higher than expected due to restructuring charges.
• Cisco Systems (NASDAQ:CSCO) stock fell 5.4% in premarket trade after it forecast its current quarter revenue to drop to 3% to 5% as global purchases of its equipment declines.
• Kraft Heinz Co (NASDAQ:KHC) stock slipped 3.2% after Goldman Sachs (NYSE:GS) downgraded the company's stock to sell due to earnings weakness.
