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%
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%
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%
Tesla Chief Executive Elon Musk suggested on Twitter that bitcoin and other cryptocurrency valuations “seem high."
4. Five9 FIVN | Up 5.5%
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.