Midday Movers: Meta Platforms, McDonald's, Align Technology and More
By Liz Moyer
Investing.com -- The Dow jumped on Thursday but the two other main indexes were weighed down by a battered tech sector. Here are the midday movers for Oct. 27:
Meta Platforms Inc (NASDAQ: META ) stock plunged 23% after it reported a drop in revenue and profit for the quarter amid rising costs. The social media platform is losing money on its efforts to build the virtual world called the metaverse.
McDonald’s Corporation (NYSE: MCD ) stock rose 3.2% after reporting better than expected revenue and profit for the recent quarter. The fast-food giant said it is seeing more traffic in its restaurants despite an increase in menu prices.
Align Technology Inc (NASDAQ: ALGN ) stock fell 17.5% after missing estimates on earnings, blaming a slowdown in demand and currency fluctuations that put a dent in revenue.
Credit Suisse (SIX: CSGN ) Group (NYSE: CS ) stock fell 18% after the Swiss bank posted a wider than expected loss for the quarter and announced a major restructuring that includes splitting off its investment bank into an independent business.
- Caterpillar Inc (NYSE: CAT ) shares rose 8.5% after the construction equipment maker said it sold more machines than expected, beating on the top and bottom lines. Higher prices helped offset higher input costs.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or