6 stocks to watch for Thursday: Cisco, Nvidia, Macy's and more
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Stocks continued to show weakness in Thursday's premarket period, adding to a downdraft that took place the previous day. Wall Street is moderating gains posted last week, when cooler-than-expected inflation data sparked a buying spree. Here are some stocks to watch for Thursday:

Cisco (NASDAQ:CSCO) rallied before the opening bell, climbing by nearly 5% after the networking equipment maker topped projections with its quarterly results. Revenue climbed almost 6% to $13.6B, exceeding estimates by $340M. The company also provided an upbeat forecast for the rest of the year.
Nvidia (NVDA) reported a Q3 profit that missed analysts' expectations. However, revenue came in above estimates. The top-line total fell 17% from last year to reach $5.9B, but that figure surpassed consensus by $110M. Looking ahead, NVDA predicted Q4 revenue of $6B, plus or minus 2%.
Alibaba (BABA) slipped in premarket trading, dragged down by a disappointing quarterly sales figure. Shares of the Chinese tech giant declined almost 3% after reporting a top-line figure of $29.1B. This was up 3% from last year but below the $29.6B that analysts were predicting.
The release of Street-beating quarterly results spurred premarket buying in Macy's (M). The department store chain posted a non-GAAP profit of $0.52, topping projections by $0.33. Revenue dropped about 4% from last year but still exceeded analysts' consensus.
Applied Materials (AMAT) is scheduled to report quarterly results after the closing bell. The company is expected to see its Q4 EPS drop almost 10% from last year to reach $1.75. Revenue is projected to rise about 5% to $6.4B.
Palo Alto Networks (PANW) is also slated to release its financial figures in the after-hours period. Analysts are looking for the cybersecurity company to earn $0.69 per share on revenue of $1.55B.


For more on the broader market, see why Goldman Sachs has boosted its forecast for the Federal Reserve's terminal rate, while continuing to predict that the economy will avoid a recession.