U.S. equity futures looked for a modest rebound Tuesday as investors eyed bargains in battered tech stocks while tracking inflation pressures in the global economy.
Here are some of the top movers in Tuesday's market.
1. Lordstown RIDE | Down 7%
Shares of Lordstown Motors (RIDE) - Get LORDSTOWN MOTORS CORP. Report fell after analysts at Morgan Stanley downgraded the stock to underweight from equal weight. The report says the recently announced sale of Lordstown’s Ohio plant to Foxconn values the plant at less than a fifth of prior estimates.
2. Facebook FB | Up 0.9%
Shares of Facebook (FB) - Get Facebook, Inc. Class A Report advanced Tuesday after the social media company restored its services. The flagship site and its affiliate services, Instagram and Whatsapp, yesterday went offline for nearly six hours.
Facebook said the shutdown was caused by a faulty configuration change. "We also have no evidence that user data was compromised as a result of this downtime," it said in a blog post.
Facebook whistleblower Frances Haugen is set to testify before Congress on Tuesday.
3. Ralph Lauren RL | Up 1.4%
Shares of Ralph Lauren (RL) - Get Ralph Lauren Corporation Class A Report rose after analysts at Wedbush initiated coverage of the retailer at outperform. The investment firm's price target of $137 a share is 16% higher than Monday's closing price.
4. PepsiCo PEP | Up 0.5%
Shares of PepsiCo (PEP) - Get PepsiCo, Inc. Report edged higher after the beverage maker posted stronger-than-expected third-quarter earnings and boosted its full-year revenue forecast. The results reflected, among other things, rebounding soda demand in key markets.