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Midday movers: Meta Platforms, Align Technology, UnitedHealth Group and more

By Liz Moyer

Investing.com -- Stocks were rising on a Meta-fueled tech rally that lifted the Nasdaq more than 3% on Thursday. Here are the midday movers for Feb.2.

  • Meta Platforms Inc (NASDAQ:META) shares rose more than 25% after the parent of Facebook and Instagram beat expectations for revenue in the recent quarter and outlined more steps it was taking to control costs.
  • Align Technology Inc (NASDAQ:ALGN) stock rose 28% after the maker of clear Invisalign dental devices beat expectations for earnings and revenue and announced a $1 billion share buyback.

  • UnitedHealth Group Incorporated (NYSE:UNH) shares fell 6.6% along with other healthcare stocks, weighed by a proposal for lower-than-expected Medicare Advantage rates.

  • Eli Lilly and Company (NYSE:LLY) shares fell 6.2% after its revenue fell short of expectations, while rival pharmaceutical maker Merck&Company Inc (NYSE:MRK) fell 4% after offering 2023 guidance that didn't meet expectations as sales of Covid treatments are expected to fall. Bristol-Myers Squibb Company (NYSE:BMY) stock rose 1.6% after it beat expectations. 

  • Harley-Davidson Inc (NYSE:HOG) stock rose 9% after the motorcycle maker reported better demand, which helped it drive home solid earnings for the most recent quarter.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.