Check out the companies making headlines in midday trading: Palantir Technologies — The software company surged 24% after reporting stronger-than-expected fourth-quarter results . Palantir attributed this earnings and revenue beat to its artificial intelligence platform gaining traction. The stock was on pace for its best day since Feb. 6, 2024, when it gained 30.8%. AMC — The movie theater stock gained 3% after Roth upgraded shares to neutral from sell. The firm said AMC is approaching a positive box-office content cycle. GEO Group , CoreCivic — The private prison stocks respectively shed 8% and 6% after El Salvador offered to jail U.S. criminals and undocumented migrants. Both stocks had rallied since President Donald Trump won his second term in office. PVH , Illumina — Shares of the Calvin Klein owner and biotechnology firm fell 1% and 5%, respectively, after China placed the companies on its “unreliable entity” list. Both companies are now at an increased risk for sanctions. Grab — Shares of the Southeast Asian ride-hailing and food delivery app soared 13% after Reuters reported, citing sources, that the company was in merger talks with rival GoTo . Spotify — Shares popped 13% after the music streaming service recorded its first full year of profitability . Spotify ended fiscal 2024 with 1.14 billion euros in net income and reported a fourth-quarter revenue beat. SiriusXM — The satellite radio stock added 3% after Warren Buffett’s Berkshire Hathaway purchased around 2.3 million shares for about $54 million. Berkshire’s ownership now totals around 35.4% of SiriusXM. Pfizer — The pharmaceutical stock lost 1%, giving back an earlier gain. The company on Tuesday reported fourth-quarter results that beat expectations. Pfizer posted adjusted earnings of 63 cents on revenue of $17.76 billion, which topped the 46 cents on $17.36 billion analysts polled by LSEG had expected. PayPal — Shares tumbled 12% after the digital payments company reported a growth slowdown in card processing . However, PayPal posted a fourth-quarter earnings and revenue beat, alongside forward guidance that topped analysts’ estimates. PepsiCo — The food and drink conglomerate shed 5% after Pepsi reported a fourth-quarter revenue miss . Pepsi partially attributed this miss to a drop in snacks and drinks demand for the fifth straight quarter in its North America market. Ferrari — The luxury automaker jumped 7% after reporting net profit rose 21% in 2024 . Ferrari also said it expected net revenue to rise at least 5% in 2025. Merck — The pharmaceutical giant shed 9% after issuing disappointing full-year earnings and revenue guidance. Merck predicted that its 2025 earnings would come in a range between $8.88 and $9.03 per share, while analysts polled by FactSet had expected around $9.13 per share. Estée Lauder — Shares fell 16% following the beauty products company’s disappointing outlook for its fiscal third quarter. Estée Lauder expects quarterly year-over-year revenue to decline between 10% and 12%, more than the 6.9% contraction expected from analysts polled by FactSet. Clorox — The cleaning products company slipped 7% despite posting a fiscal second-quarter earnings and revenue beat. Clorox also lifted its full-year earnings guidance versus its previous expectations. Apollo Global Management — The alternative asset manager dipped 3% after posting mixed fourth-quarter results. Apollo’s inflows dropped to $33 billion from $42 billion in the last quarter. On the other hand, the company’s earnings of $2.22 per share beat the $1.89 analysts had expected. — CNBC’s Michelle Fox, Hakyung Kim and Jesse Pound contributed reporting.
Stocks making the biggest moves midday: RACE, SPOT, PYPL, PLTR