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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 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.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% 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.