Stocks making the biggest moves midday: MicroStrategy, AutoNation, Palantir and more

SourceCNBC
SectorFinancial Markets
CountryMiddle east

Here are the companies making headlines on Tuesday: MicroStrategy — The enterprise software company's shares fell more than 5% 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 popped 4% 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 about 10% in midday trading 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...read more...