Software firm, Palantir (NASDAQ: PLTR) is up more than 8.5% after reporting solid earnings growth on Monday. The company posted first-quarter revenue of $884 million, which was above analyst expectations of $863 million.

Palantir Technologies (PLTR, Financials) will report quarterly results after the market closes Monday, and traders are bracing for a major move. Options pricing implies a swing of more than 12%, which could push the stock to a new all-time high near $139or knock it back to $108.

Live Updates Live Coverage Updates appear automatically as they are published. Morgan Stanley Weighs In 10:57 am by Eric Bleeker As of 11:00 a.m. ET, Palantir has erased some earlier losses and is now down 12%.