By Liz Moyer
Investing.com -- Stocks were moving higher as tech stocks led the gains, aiming to close out January on a high note. Here are the midday movers for Jan. 31.
- General Motors Company (NYSE:GM) shares jumped 8% after the automaker beat expectations on the top and bottom lines in the recent quarter and gave strong guidance. Ford Motor (NYSE:F) shares are also up 4% after it cut prices for its electric Mustang Mach-E.
- McDonald’s Corporation (NYSE:MCD) stock fell 2% after the fast food giant beat expectations for same-store sales in the recent quarter but cited short-term inflation pressures remaining.
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Pfizer Inc (NYSE:PFE) shares dipped 0.2% after the pharmaceutical maker said it expects revenue this year from its COVID-19 treatments to fall compared with last year as demand wanes.
- Advanced Micro Devices Inc (NASDAQ:AMD) stock rose 2.7% ahead of its earnings report later today. Analysts expect revenue of $5.51 billion on adjusted profit of 67 cents.
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Spotify Technology SA (NYSE:SPOT) shares jumped 12% after the streaming media platform said revenue in the recent quarter rose 18% from the same time a year ago. Monthly active users rose 20%, while premium subscribers grew 14%.