• Palantir shares were down 7% in Tuesday's midday session despite upbeat earnings as concerns about valuation gained momentum.
• Hertz shares were up by over 43% after the company's Q3 results beat Wall Street expectations.
• Metsera shares were up nearly 20% after the company received a revised bid from Novo Nordisk that values the company at nearly $10 billion.

U.S. equities declined in Tuesday's midday trade after Wall Street CEOs flagged concerns that there could be a pullback in the next 12 to 24 months in the equity markets.

Goldman Sachs CEO David Solomon warned about a potential drawdown at an investment summit in Hong Kong, according to a report by CNBC.“It's likely there'll be a 10 to 20% drawdown in equity markets sometime in the next 12 to 24 months,” he said. At the same event, Morgan Stanley CEO Ted Pick also warned of the possibility of a 10% to 15% pullback, according to the report.

The SPDR S & P 500 ETF (SPY), which mirrors the S & P 500 index, was down 0.9% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100 index, fell 1.47%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, declined 0.44%.

Here are the top stocks making the biggest moves in Tuesday's midday trade:

Palantir Technologies Inc. (PLTR)

Palantir shares were down 7% in Tuesday's midday session despite upbeat earnings as concerns about valuation gained momentum. The company's third-quarter (Q3) results exceeded Wall Street expectations, with adjusted earnings per share (EPS) of $0.21 on revenue of $1.18 billion, compared to analyst estimates of $0.17 EPS on revenue of $1.09 billion, according to Stocktwits data. In an interview on Tuesday, Palantir co-founder and CEO Alex Karp called out Michael Burry's short bet against the company, saying it is“super weird.”

PLTR stock is up 156% year-to-date.

Hertz Global Holdings Inc. (HTZ)

Hertz shares were up by over 43% in Tuesday's midday trade after the company reported an adjusted EPS of $0.12 in Q3 on revenue of $2.48 billion, compared to analyst estimates of an adjusted EPS of $0.07 on revenue of $2.4 billion, according to Stocktwits data.

HTZ stock is up 94% year-to-date.

Metsera Inc. (MTSR)

Metsera shares were up nearly 20% in Tuesday's midday session after the company received a revised bid from Novo Nordisk AS (NVO) that values it at nearly $10 billion.

MTSR stock is up 186% year-to-date.

Uber Technologies Inc. (UBER)

Uber shares were down nearly 6% in Tuesday's midday trade after a tepid fourth-quarter (Q4) guidance from the company. Uber guided for an adjusted earnings before interest, taxes, depreciation, and amortization of $2.41 billion to $2.51 billion. Its midpoint of $2.46 billion was marginally below the $2.49 billion expected by Wall Street analysts.

UBER stock is up 55% year-to-date.

DraftKings Inc. (DKNG)

DraftKings shares were down over 6% in Tuesday's midday session after analysts at Bank of America pointed to“relentless headwinds” for the company ahead. Bank of America analyst Shaun Kelley cut the price target on DraftKings to $35 from $48 and downgraded the stock to 'Neutral' from 'Buy', according to TheFly. The analyst noted that sports outcomes in the third and fourth quarters raise concerns about volatility and long-term earnings prospects of the company.

DKNG stock is down 23% year-to-date.

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