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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