Premarket Movers Tuesday - Tesla, Square, Macy's

Stocks moving in premarket trading on Tuesday include Macy's, Square, Tesla, Home Depot and Five9.
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Stock futures fell and tech stocks headed lower on Tuesday after the Nasdaq 100 posted its longest losing streak in four months. 

Federal Reserve Chairman Jerome Powell is set to testify in Congress on the health of the economy later today.

Here are some of the top movers during premarket trading on Tuesday.

1. Macy's M | Up 2%

Shares of Macy's  (M) - Get Report were higher after the retailer reported fiscal-fourth-quarter earnings that exceeded Wall Street expectations. 

Macy's posted a quarterly adjusted profit of 80 cents a share on revenue of $6.78 billion. Analysts expected adjusted earnings of 12 cents a share on revenue of $6.5 billion.

2. Square SQ | Down 5.6%

Shares of Square  (SQ) - Get Report slipped ahead of the payment processor's earnings report, expected after the closing bell.

Last week, Deutsche Bank analyst Bryan Keane raised his price target on Square to $330 a share from $255 and affirmed a buy rating on the stock.

3. Tesla TSLA | Down 5.4%

Shares of Tesla  (TSLA) - Get Report extended their slide to a fourth day. The electric-vehicle producer's stock closed down 8.6% on Monday, its biggest drop since Sept. 23, CNBC reported.

Tesla Chief Executive Elon Musk suggested on Twitter that bitcoin and other cryptocurrency valuations “seem high."

4. Five9 FIVN | Up 5.5%

Shares of Five9  (FIVN) - Get Report rose after the software provider reported fourth-quarter results.

Revenue increased 39% to $127.9 million from $92.3 million in the year-earlier period.

The company swung to a GAAP net loss of $7.2 million, or 11 cents a  share, from profit of $800,000, or 1 cent a share, in the year-ago period. Adjusted earnings were 34 cents a share vs. 27 cents.

5. Home Depot HD | Down 2.3%

Shares of Home Depot  (HD) - Get Report dropped even after the home-improvement retailer posted stronger-than-expected fourth-quarter earnings, thanks in part to a surge in same-store sales. The Atlanta chain declined to offer a 2021 profit forecast amid the pandemic uncertainty.

Home Depot’s net income rose to $2.86 billion, or $2.65 a share, from $2.48 billion, or $2.28 a share, a year earlier. Analysts surveyed by Refinitiv expected earnings of $2.62 a share, CNBC reported.

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