Stocks making the biggest moves midday: Palantir, Novavax, Under Armour and more

cnbc.com:

Check out the companies making headlines in midday trading.

Palantir – Palantir shares popped nearly 20% after the software company beat first-quarter estimates and said it anticipates full-year profitability. CEO Alex Karp said that the company's seeing strong demand for its new artificial intelligence platform.

3D Systems — Shares dropped 10.2% after the 3D printer maker reported weak first-quarter earnings. 3D systems reported an adjusted loss of 9 per share on revenue of $121 million, while analysts polled by Refinitiv expected a loss of 7 cents per share and revenue of $128 million. The firm also reaffirmed full-year revenue guidance and raised its full-year adjusted EBITDA expectations, while cutting 6% of its workforce.

Novavax — The biotechnology stock surged 44% on news of promising vaccine data and a major cost-cutting initiative that includes broad layoffs.

Skyworks Solutions — Shares slid about 6% it posted weaker-than-expected fiscal third-quarter guidance. The semiconductor firm forecasts non-GAAP per-share earnings of around $1.67, lower than consensus estimates of $2.06, according to StreetAccount.

Under Armour — The apparel company slipped 5.3% after the company projected earnings per share and revenue to be short of Wall Street expectations for the full-year. But Under Armour was able to beat expectations of analysts polled by Refinitiv on the top and bottom lines for its fiscal fourth quarter.

Fisker — Shares shed 4.8% after the automotive company's first quarter earnings came in under Wall Street forecasts. Fisker said it lost 38 cents per share, more than the projected loss of 30 cents from analysts polled by Refinitiv.

Plug Power — The hydrogen fuel company dropped 14.1% after posting a wider loss