Midday movers: General Motors, McDonald's, Pfizer and more

January 31, 2023 1:43 PM EST

By Liz Moyer -- 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.

  • 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.

  • Spotify Technology SA (NYSE: SPOT) shares jumped 12% after the streaming media platform beat expectations for revenue in the recent quarter and said monthly active users rose 20%, while premium subscribers grew 13%.

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