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:
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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.
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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.
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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.
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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.