Shares of technology companies rose as investors piled into the largest tech companies that have led the stock market for much of this year.

Nintendo's latest "Animal Crossing" videogame, a lockdown favorite, helped the company record its best April-June quarter in 12 years. Profit in the quarter, typically a quiet period in an industry that relies on holiday-season sales, increased by more than six times from a year earlier to $1 billion.

Shares of Facebook rallied after the social network launched a short-video feature in the U.S., challenging the empire that Chinese sharing platform TikTok has built on user-generated dance videos, comedy skits and viral challenges. The timing of Facebook's launch was seen as savvy, given the political pressure on TikTok.

Separately, Facebook and Twitter took down a President Donald Trump post, where the president said children are "almost immune from this disease," a claim that the companies said ran afoul their rules against harmful misinformation about Covid-19. 


 Write to Rob Curran at rob.curran@dowjones.com