Stocks making the biggest moves midday: Block, Truist, PepsiCo, Rivian and more

cnbc.com:

Check out the companies making headlines in midday trading.

Skechers — The shoe company gained 2.6% after UBS reiterated its buy rating on shares. UBS said Skechers' brand and products «continue to resonate with global customers.»

Palantir Technologies — Shares of Palantir Technologies gained nearly 2% after the data analytics and software companywon a $250 million contract with the U.S. Army, working to develop artificial intelligence and machine-learning capabilities through 2026.

PepsiCo — The beverage giant gained 2.2% after posting a third-quarter earnings beat Tuesday. The company reported an adjusted $2.25 per share on $23.45 billion in revenue, while analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of $2.15 per share and revenue of $23.39 billion.

Solar companies — Shares of solar companies rallied Tuesday, putting the Invesco Solar ETF (TAN) on pace for its best day since March 21. SolarEdge added 4.5% and First Solar rose more than 5%. Sustainability-focused real estate investment trust Hannon Armstrong advanced 7%, bolstered by Baird saying the stock could have 81% upside.

Electronic Arts — Shares of the video game publisher rose 3% after Bank of America upgraded Electronic Arts to buy from neutral. The investment firm said the rebrand of EA's FIFA franchise is going well, creating upside for the stock.

Defense stocks — L3Harris Technologies and Northrop Grumman both pulled back about 1% Tuesday. The defense and aerospace companies rose Monday after the Israel-Hamas war began over the weekend. 

Rivian — Shares of the electric vehicle manufacturer rose more than 5% after UBS upgraded the stock to buy from neutral. Analyst Joseph Spak said a recent sell-off has opened up an attractive