Stocks Making the Biggest Moves Midday: MicroStrategy, AutoNation, Palantir and More

Source: The New York Stock Exchange

Here are the companies making headlines on Tuesday:

MicroStrategy — The enterprise software company's shares fell 7.7% Tuesday after the announcement to purchase more bitcoin. MicroStrategy said it plans to offer $600 million of senior convertible notes and use the net proceeds to buy bitcoin,. The move would mark the second time the company has made a bitcoin-related investment. Bitcoin's price topped $50,000 for the first time ever on Tuesday.

AutoNation — Shares of AutoNation gained 1.3% after beating on the top and bottom lines of its quarterly earnings. The car company reported earnings of $2.43 per share on revenue of $5.785 billion. Wall Street expected earnings of $2.01 per share on revenue of $5.564 billion, according to Refinitiv.

Palantir — Shares of Palantir dropped 12.8% after the taciturn data analytics company reported earlier Tuesday a per-share loss of 8 cents during the fourth quarter. Revenue of $322 million topped analyst expectations of $300.7 million. Palantir said it closed 21 deals worth at least $5 million in total contract value during the three months ended Dec. 31.

CVS Health — Shares of the drugstore chain dipped close to 5% despite reporting strong earnings backed by pharmacy sales and Covid-19 testing and vaccines. CVS earned $1.30 per share, outpacing the $1.24 per share expected by analysts surveyed by Refinitiv. Revenue came in at $69.55 billion, compared with $68.75 billion expected.

Callaway Golf — Shares of the sports equipment company fell more than 5% after an analyst from Cowen downgraded the stock to market perform from outperform. The firm said in a note that the business recovery from widespread vaccinations was already priced in and that the merger between Callaway and TopGolf clouded the outlook in the years ahead.

CoreLogic — The housing data stock jumped 7.8% after the company announced that it had received an unsolicited takeover offer from CoStar Group. CoreLogic had previously agreed to be acquired by Stone Point Capital and Insight Partners, and that deal is still in full force, the company said.

Exxon, Chevron — Energy stocks rose on Tuesday as cold weather across the United States caused energy shortages and rising oil prices. Shares of Exxon and ConocoPhillips rose 3% and 3.6%, respectively, while Chevron rose just over 2%.

--CNBC's Tom Franck, Yun Li and Maggie Fitzgerald contributed to this story.

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