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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.
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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, Inc. Class A 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 Inc 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.