Stocks making the biggest moves midday: Fortinet, Moderna, Intel, Bausch Health & more Published Fri, Jan 23 202611:53 AM EST thumbnail Christina Cheddar Berk @in/christina-cheddar-berk-b864404/ thumbnail Liz Napolitano @LizKNapolitano WATCH LIVE

Technology stocks showed divergent moves Thursday, with Fortinet and Nvidia advancing while Intel suffered a steep selloff following disappointing quarterly guidance.

Fortinet shares surged more than 7% after TD Cowen upgraded the cybersecurity firm to buy, citing resilience against rising memory costs and projecting 29% upside.

Intel tumbled 16% after issuing a weak first-quarter forecast, expecting revenue between $11.7 billion and $12.7 billion with adjusted profit breaking even—well below analyst expectations.

Nvidia gained about 1.6% on reports that CEO Jensen Huang plans to visit China ahead of the Lunar New Year, amid ongoing uncertainty over the chipmaker's access to the Chinese market.

Elsewhere, Moderna fell 6% after CEO Stephane Bancel said the company won't invest in new late-stage vaccine trials due to U.S. opposition to immunizations. Bausch Health dropped 9% after an experimental liver disease treatment failed a late-stage trial.

On the positive side, Life360 soared 28% on strong user growth and preliminary financial results, while Booz Allen Hamilton rose more than 7% after raising its earnings forecast.

Clorox gained almost 3% after agreeing to acquire Purell maker Gojo Industries for $2.25 billion.