Stock futures wobbled Tuesday, a day after the S&P 500 and Nasdaq closed at record highs, as investors weighed whether an economic recovery might be stalled by a worrying rise of cases of the highly transmissible coronavirus Delta variant.
Here are some of the top movers during premarket trading on Tuesday:
1. Exela Technologies – Up 60.5%
Exela Technologies (XELA) – Get Report surged as the software company was promoted on Reddit message boards.
Exela last week received a favorable ruling by a Texas court dismissing a federal securities class action suit.
The company also recently announced an extension and expansion of its partnership with a large specialty care services insurance carrier.
2. Marin Software – Up 22.7%
Shares of Marin Software (MRIN) – Get Report were climbing as the company was also being touted on Reddit message boards.
Marin last week announced an enhancement to ad management software that allows users to manage ads placed on online grocery platform Instacart, providing new options for targeting online shoppers with targeted ads.
3. Purple Innovation – Down 13.7%
Purple Innovation (PRPL) – Get Report slumped after the furnishings and fixtures maker lowered and withdrew certain financial guidance due to problems getting machinery back online after an accident and safety upgrades.
The company said it now expects second-quarter revenue to range from $175 million to $185 million, short of analysts’ estimates of $205 million.
Purple Innovation withdrew full-year financial guidance that it had provided on May 17.
4. BSquare – Up 75%
Shares of BSquare (BSQR) – Get Report surged as the company apparently caught the attention of retail traders.
BSquare is an Internet of Things systems software provider based in Seattle. In May, the company posted a first-quarter net loss of $900,000 and revenue of $10 million.
5. Morgan Stanley – Up 3.3%
Morgan Stanley (MS) – Get Report rose after the investment bank doubled its quarterly dividend to 70 cents a share, the first of the big U.S. banks to do so after the banks passed the Federal Reserve’s stress tests and were freed from restrictions on paying dividends and buying back stock.