These are the companies that are making headlines on Tuesday:
MicroStrategy – Shares of the corporate software company fell more than 5% on Tuesday following the announcement to buy more bitcoin. MicroStrategy said it plans to offer $ 600 million in senior convertible bonds and use the net proceeds to buy bitcoin. The move would be the second time the company has made a bitcoin-related investment. Bitcoin’s price first rose above $ 50,000 on Tuesday.
AutoNation – Stocks of AutoNation were up 4% after beating the top and bottom lines of quarterly earnings. The auto company reported earnings of $ 2.43 per share on revenues of $ 5.785 billion. Wall Street expected earnings of $ 2.01 per share on sales of $ 5.564 billion, according to Refinitiv.
Palantir – Shares of Palantir fell about 10% in afternoon trading after the taciturn data analytics company reported a loss per share of 8 cents during the fourth quarter earlier Tuesday. Revenue of $ 322 million exceeded analyst expectations of $ 300.7 million. Palantir said it closed 21 deals worth at least $ 5 million in the three months ended December 31.
CVS Health – Shares of the drugstore chain were down nearly 5% despite reporting strong earnings, supported by pharmacy sales and Covid-19 testing and vaccines. CVS earned $ 1.30 per share, more than the $ 1.24 per share expected by analysts polled by Refinitiv. Revenues came in at $ 69.55 billion, compared to the $ 68.75 billion forecast.
Callaway Golf – Shares of the sporting goods company fell more than 4% after a Cowen analyst cut the stock to market performance from an outperform. The company said in a note that business recovery from widespread vaccinations had already been priced in and the merger between Callaway and TopGolf clouded the outlook for years to come.
CoreLogic – Residential data stock increased more than 6.5% after the company announced it had received an unsolicited takeover bid from CoStar Group. CoreLogic was previously agreed to be acquired by Stone Point Capital and Insight Partners, and that deal is still in full effect, the company said.
Exxon, Chevron – Energy stocks rallied Tuesday as cold weather in the United States caused energy shortages and soaring oil prices. Shares of Exxon and ConocoPhillips were up more than 2%, while Chevron was up about 1.8%.
–The Washington City Times’s Tom Franck, Yun Li, and Maggie Fitzgerald contributed to this story.