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Palantir, Rivian, Uber and more


Peter Thiel is co-founder of Palantir Technologies Inc. and Chairman.

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These are the top companies that made headlines Monday morning in midday trading.

Palantir – Shares of the software company dropped more than 18% after Palantir’s first-quarter earnings came in below expectations. On $446 million in revenue, the company earned 2 cents per share. Refinitiv polled analysts to expect 4 cents earnings per share on $443million of revenue. StreetAccount also found that Palantir’s guidance for second quarter revenue and adjusted operating margin were below analysts’ expectations.

Rivian – Shares of the electric vehicle maker fell more than 17% following a CNBC report that Ford Motor will sell 8 million shares as the insider lockup for the stock is set to expire. Rivian is currently owned by Ford. Ford shares fell 4%.

Uber – The ride-sharing company’s stock dropped 6.4% after CEO Dara Khosrowshahi revealed plans to slash marketing and incentives spending and treat hiring as a “privilege,” according to an email to employees obtained by CNBC. He said, “It’s obvious that the market is going through a seismic shift” and that it was important to respond accordingly.

Coty — Shares tumbled 5.7% despite an earnings beat from the cosmetics company. Coty made 3 cents per share from $1.19 million in revenues during its last quarter. Refinitiv polled its analysts to predict earnings of 1c per share for revenues of $1.15 Billion. Coty’s full-year outlook was also improved due to strong consumer demand.

Tyson Foods – Shares of the beef and poultry producer gained 1.7% on the back of better-than-expected quarterly results. Tyson earned $2.29 per share from $13.12 million in revenue. According to Refinitiv. Analysts expected Tyson’s profit of $1.91 on $12.85 billion in revenue.

BioNTech – The stock rose about 5.9% after BioNTech posted a better-than-expected first-quarter report. BioNTech posted a revenue of $6.37billion and earned $14.24 per sen. Refinitiv analysts polled expected a profit $9.16 per Share on revenue $4.34 Billion.

Twitter – Shares of the social media company fell 1.9% after The New York Times reportedAn investor presentation was used to discuss Elon Musk’s financial plans for Twitter. The billionaire — who is acquiring Twitter for $44 billion — aims to quintuple revenue by 2028, cut Twitter’s reliance on advertising and reach 931 million users by 2028, among other objectives set out in the presentation.

Dish Network – Shares dipped 1.3% after JPMorgan downgraded Dish to neutral from overweight, citing “weaker than expected PayTV and wireless results.” Credit Suisse raised Dish’s rating to outperform, upgrading it from neutral. It said that the company has “sufficient upside”.

Match – Shares of the online dating company slid 2.3% after Wells Fargo upgraded the stock to overweight from equal weight. Wells claimed that the shares at present levels are compelling.

Virgin Galactic – Shares of Virgin Galactic pulled back by 6.6% as Truist downgradedThe space travel company is reserving its purchase amid fears about flight delay.

— CNBC’s Jesse Pound, Tanaya Macheel, Samantha Subin and Sarah Min contributed reporting