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.
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.