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Premarket Movers Tuesday: Zoom Video, Best Buy, XPeng

Stocks are trading mixed as investors react to President Joe Biden's decision to name Jerome Powell to a second term as Federal Reserve chairman.

Stock futures traded mixed Tuesday, although volumes are beginning to thin ahead of the Thanksgiving holiday break. Investors reacted to President Joe Biden's decision to name Jerome Powell to a second term as Federal Reserve chairman. 

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

1. Zoom Video | Down 9.5%

Zoom Video   (ZM) - Get Zoom Video Communications (ZM) Report shares tumbled  after the videoonferencing company, which proved vital through the pandemic, reported better-than-expected quarterly earnings but warned of a revenue slowdown as the pandemic eases.

2. Best Buy | Down 14%

Shares of Best Buy  (BBY) - Get Best Buy Co., Inc. Report were sliding after the electronics retailer posted stronger-than-expected third-quarter earnings but forecast weaker same-store sales over the holiday period. Supply-chain disruptions continue to ripple through the retail electronics sector. 

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3. Xpeng | Up 5.3%

Xpeng  (XPEV) - Get Xpeng Report shares jumped after the Chinese electric-car maker, and upstart Tesla  (TSLA) - Get Tesla Inc Report rival, posted stronger-than-expected third-quarter revenue amid the global shortage in semiconductor supplies. Xpeng delivered 25,666 cars over the three months ended in October, triple the figure from the year-earlier period.

4. Dick's Sporting Goods | Down 2.7%

Shares of Dick's Sporting Goods  (DKS) - Get Dick's Sporting Goods, Inc. Report fell after the sporting-goods retailer beat Wall Street's third-quarter earnings expectations but warned that fourth-quarter sales may slip due to supply-chain problems caused by a manufacturing shutdown in Vietnam. 

5. Urban Outfitters | Down 11%

Urban Outfitters  (URBN) - Get Urban Outfitters, Inc. Report shares were tumbling after the apparel retailer posted better-than-expected third-quarter earnings but said strong growth in digital sales was offset by a drop in store sales due to reduced store traffic.