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☆ Snap shares plunge 30% in the wake of quarterly loss, layoffs
▼ + stars: | 2024-02-06 | by ( Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Snapchat parent Snap plunged on Tuesday after the company reported a loss in the final three months of 2023. Snap reported a net loss of $248 million for the December quarter, an improvement from the same period in the prior year and a narrower loss than Wall Street analysts had expected. Still, shares fell as much as 30% in after-hours trading Tuesday. Snap said Monday that the layoffs were meant to “best position our business to execute on our highest priorities” and to “promote in-person” work. Daily active users grew 10% year-over-year in the December quarter to 414 million, with gains largely coming from outside the US and Europe.

Persons: Evan Spiegel, Apple’s Organizations: New, New York CNN, Wall Street, Facebook, Amazon Locations: New York, Europe

☆ Snap plunges 30% on revenue miss and light guidance, as Middle East conflict creates 'headwind'
▼ + stars: | 2024-02-06 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Revenue : $1.36 billion vs. $1.38 billion expected, according to LSEG. : $1.36 billion vs. $1.38 billion expected, according to LSEG. Global Daily Active Users : 414 million vs. 412 million expected, according to StreetAccount. : 414 million vs. 412 million expected, according to StreetAccount. Daily active users for the first quarter will be 420 million, Snap said, slightly topping analyst estimates of 419.3 million.

Persons: Evan Spiegel, Porte, Debra Aho Williamson, Mark Zuckerberg, Linda Yaccarino, Shou Zi Chew, Jason Citron, Pinterest Organizations: Inc, Viva Technology, Porte de, CNBC, Meta Locations: Paris, Israel

He also said that Flywire trading at a discount of about 25% is "unwarranted given the company's strong competitive position and organic revenue growth trajectory." "These risks along with a tough demand setting is likely to remove any support for the stock price." — Alex Harring 5:29 a.m.: BTIG moves to sidelines on McDonald's after earnings BTIG has a different taste in its mouth about McDonald's following earnings. The bank upgraded the delivery giant to buy from neutral and hiked its price target to $175 from $160. "We expect management to deliver a strong cost reduction program to support margin expansion and attractive EPS growth despite facing a backdrop of muted revenue growth," analyst Thomas Wadewitz wrote.

Persons: Flywire, Nate Svensson, That's, Svensson, — Alex Harring, Gross, Manav Gupta, Gupta, Jairam Nathan, Nathan, Tesla, Li, Edison Yu, Yu, Piper Sandler, Arvind Ramnani, Chegg, Ramnani, Alex Harring, Tyler Radke, Palantir, Radke, BTIG, Peter Saleh, Saleh, McDonald's, Thomas Wadewitz, Wadewitz, Fred Imbert Organizations: CNBC, Parcel Service, Deutsche Bank, UBS, Leadership, Li Auto, KraneShares CSI China Internet, Citi, Wall, Revenue, UPS Locations: Tuesday's premarket, Monday's, U.S, Israel

MANHATTAN, Kan. (AP) — Tylor Perry scored eight of his 26 points in overtime and Kansas State beat No. Kaluma’s putback with 23 seconds remaining was answered by Adams' bucket with 14.2 seconds left to send the game to overtime. Kansas State hit five 3-pointers in the first half but went into the locker room trailing 32-30. Kansas State: The Wildcats need to keep up the sort of intensity they showed Monday night if they’re going to revitalize their fading NCAA Tournament hopes. Kansas State: Plays at No.

Persons: — Tylor Perry, Hunter, Dajuan Harris Jr, Kevin McCullar Jr, Arthur Kaluma, Perry, Cam Carter, Kaluma, Dickinson, Harris, KJ Adams Jr, Carter, Adams, ___ Organizations: Kansas State, Wildcats, Kansas, Jayhawks, NEXT Kansas, Baylor, Saturday . Kansas, BYU, AP Locations: Kan, Kansas

☆ EU Commission unveils a plan to slash emissions by 90%. Can it deliver?
▼ + stars: | 2024-02-06 | by ( Angela Dewan | ) edition.cnn.com time to read: +6 min

The announcement will kick off months of talks that could take up to a year before the European Parliament rubber stamps the target. The European Greens — a faction of environmentally conscious lawmakers from several countries — are expecting big losses in the vote, after making sweeping gains in the 2019 election. “We’re looking at a European Parliament that is more in favor of regulatory freedom for member states,” Dufour said. The Greens had been successful in achieving a strong climate agenda through the EU parliament, he added. She said new conservative or even far-right lawmakers may also back some ambitious climate policies because so many make sense in terms of economics and security, as well.

Persons: —, Wopke Hoekstra, Andreas Solaro, Manon Dufour, ” Dufour, Dufour, Bas Eickhout, ”, Eickhout, Olivier Chassignole, ” Eickhout, I’m, Linda Kalcher, Kalcher Organizations: CNN, European Commission, EU, Parliament, European Greens —, Getty, Conservative, European People’s Party, EPP, Deal, European Greens, Greens, European Greens Party, ”, Green Locations: Lugo , Italy, AFP, Brussels, Bas, Dutch, Lyon, France, Brussel, Ukraine

☆ Stocks making the biggest moves after hours: Chipotle, Snap, Ford, Warner Bros. Discovery and more
▼ + stars: | 2024-02-06 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Mercury Systems — Shares of the technology company fell nearly 12% after missing Wall Street estimates in the fiscal second quarter. Viasat — Shares in the communications firm gained more than 5% after Viasat surpassed Wall Street estimates for revenue in the third quarter. The company notched revenue of $1.13 billion while analysts polled by FactSet forecast $1.11 billion. Analysts polled by LSEG expected the company to earn 77 cents per share on revenue of $3.24 billion. Chipotle — Shares added nearly 3% after beating Wall Street estimates on the top and bottom lines in the fourth quarter.

Persons: FactSet, LSEG, Chipotle Organizations: Mercury, Viasat —, Viasat, Wall, FactSet, LSEG, Corp, —, Gilead Sciences, Gilead Sciences — Stock, Ford — Stock, Ford, Disney, Warner Bros, Discovery, Fox Corp, Fox, Warner Bros ., ESPN Locations: Gilead, Gilead Sciences —

☆ Snap Becomes Latest Tech Company to Cut Jobs
▼ + stars: | 2024-02-05 | by ( Yiwen Lu | More About Yiwen Lu | ) www.nytimes.com time to read: 1 min

Snap, the parent of messaging app Snapchat, on Monday said it would lay off more than 500 employees, joining other tech companies in a wave of new cost-cutting measures. The layoffs amount to 10 percent of its global work force; the majority will occur in the first quarter of 2024. “We have made the difficult decision to restructure our team,” the company said in a securities filing, adding that it would take pretax charges of $55 million to $75 million, primarily for severance and related costs. Amazon, Google and Microsoft have announced layoffs this year, following tens of thousands across the sector last year.

Persons: “ Organizations: Google, Microsoft

☆ Morning Meeting rapid fire: Catalent, Snap, Cigna, McDonald's and Mattel
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorning Meeting rapid fire: Catalent, Snap, Cigna, McDonald's and MattelJim Cramer runs through five stocks in the news Monday

Persons: Mattel Jim Cramer Organizations: Mattel

☆ Snap to lay off 10% of global workforce, around 500 employees
▼ + stars: | 2024-02-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: 1 min

Co-founder and CEO of Snap Inc. Evan Spiegel attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol, in Washington, U.S., January 31, 2024. Social media company Snap said Monday that it will lay off 10% of its global workforce, or around 500 employees, in part to "promote in-person collaboration." The company has executed multiple rounds of layoffs since 2022, most recently in November, when it trimmed a small number of product employees. Snap expects it will incur charges ranging from $55 million to $75 million, according to a regulatory filing. The company's last major round of cuts was in August 2022, when it laid off 20% of staff and restructured its business lines.

Persons: Evan Spiegel Organizations: Snap Inc, U.S . Capitol, Social Locations: Washington , U.S

Snap, the Owner of Snapchat, Is Laying off About 10% of Its Global WorkforceThe owner of Snapchat is cutting approximately 10% of its worldwide workforce, or about 530 employees, the latest tech company to announce layoffs

Organizations: Global

☆ Snap's new mass layoffs hit teams across tech, trust and safety, and an internal analytics team aiding DEI efforts
▼ + stars: | 2024-02-05 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Snap's new mass layoff impacted workers in a range of roles across the company. Another perceived Snap in recent months as a company in "managed decline." C-suite executives who were hired or promoted, like Jerry Hunter and Jeremi Gorman, respectively, to build up and manage Snap's business, are gone and are not being replaced, as CEO Evan Spiegel is taking on oversight of the business. Engineering leaders, too, left the company in recent months. Snap has hired some new executives, like Patrick Harris, Ronan Harris, Darshan Kantak and Eric Young, but none are in the c-suite.

Persons: Evan Spiegel, Snap's, Spiegel, Jerry Hunter, Jeremi Gorman, Patrick Harris, Ronan Harris, Darshan Kantak, Eric Young Organizations: Business, Workers, Monday, BI, Meta, Apple, Engineering Locations: North America, California

☆ Miley Cyrus didn't thank her dad Billy Ray in her 2024 Grammys acceptance speech — here's what to know about the rumored family drama
▼ + stars: | 2024-02-05 | by ( Eve Crosbie | Caralynn Matassa | ) www.businessinsider.com time to read: +9 min

Fans think there's a divide in the Cyrus family following Tish and Billy Ray Cyrus' separation. AdvertisementMiley Cyrus didn't thank her dad, Billy Ray, in her acceptance speech at the 2024 Grammys, seemingly fueling rumors that there's a rift in the Cyrus family. Billy Ray Cyrus, Miley Cyrus and Tish Cyrus at the Nickelodeon Annual Kids' Choice Award in 2010. Tish Cyrus, Braison Cyrus, Noah Cyrus, Billy Ray Cyrus, Brandi Cyrus, and Miley Cyrus at the the 2015 MTV Video Music Awards. Representatives for Miley, Tish, Billy Ray, Noah, Braison, Trace, and Brandi Cyrus did not immediately respond to requests for comment.

Persons: Cyrus, Billy Ray Cyrus, Noah, Braison Cyrus didn't, Dominic Purcell, Miley, —, Miley Cyrus didn't, Billy Ray, Tish, Brandi, Maxx Morando, Braison, Baxter Neal Helson, Christopher Cody, Kristin Luckey, Miley Cyrus, Tish Cyrus, Kevin Mazur, Noah Cyrus, Firerose, Johanna Rosie Hodges, Hannah Montana, superstardom, Braison Cyrus, Brandi Cyrus, John Shearer, It's, Trace Cyrus, Jared, @noahcyrus, Braison —, Billy Ray's, Trace, @tracecyrus, Tish's nuptials, Liam Hemsworth's Organizations: Service, Nickelodeon, Los, The Recording Academy, Disney Channel, Los Angeles Times, Daily Mail Locations: Los Angeles, Cyrus's Franklin , Tennessee, Instagram, Tish, Malibu, Nashville , Tennessee, Walmart, Instagram .

☆ Snap slashes 10% of its workforce
▼ + stars: | 2024-02-05 | by ( Paul Squire | Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Snap announced another round of layoffs on Monday, the latest for Snapchat's parent company. The company said in a regulatory filing that it would cut 10% of its workforce. Two workers at the social media company previously told Business Insider's Kali Hays that several dozen Snap staffers were let go on Friday and more cuts were expected. Meanwhile, BI previously reported the company has struggled to deal with shifts in the digital ad market and fierce competition from TikTok and Meta. It's the latest company to make cuts in what's been a brutal start to 2024 for tech workers.

Persons: Derek Andersen, Kali Hays Organizations: Apple's Locations: what's

It's time to buckle up: Investors holding these stocks could be in for a wild ride this week. A review of companies set to report earnings this week shows that some names may post sharp moves following their results, according to CNBC calculations based on FactSet data. For example, Snap , which reports Tuesday, could see its stock price move up or down about 17% following the news. Here are some other stocks that may move the most in response to news this week. Affirm , the buy now, pay later financial services company, could move up or down 15% following its earnings results, which are set for release Thursday.

Persons: John Butters, Morgan Stanley Organizations: CNBC, Ford Motor, Walt Disney Company, PepsiCo, Spirit Airlines, Palantir Technologies

☆ Snap to lay off 10% of staff, cutting approximately 500 jobs
▼ + stars: | 2024-02-05 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +1 min

Snap disclosed the latest layoffs in a regulatory filing on Monday, saying the cuts will impact approximately 10% of its global full time employees. Mass layoffs have roiled the tech sector since 2022, and the job cuts emanating from Silicon Valley have continued to trickle in this year. The latest job cuts at Snap come after the company said in August 2022 that it was cutting some 20% of its global employees, equating to roughly 1,200 jobs at the time. The company also cut approximately 3% of its staff last year, after it announced it was shuttering its AR Enterprise business, per a regulatory filing. Shares for Snap dipped approximately 1.5% early Monday.

Persons: Layoffs.fyi Organizations: CNN, Inc, Enterprise Locations: Silicon

☆ Digital ad market shows signs of sharp rebound as Meta, Amazon point to growth
▼ + stars: | 2024-02-05 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

During that period Meta's ad revenue fell 4%, and Google's ad business suffered a similar drop . A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump. Meanwhile Alphabet, still the market leader, saw its Google ad business rise 11% to $65.5 billion, boosted by 16% growth at YouTube. Investors will get additional data on the digital ad market when Snap and Pinterest report earnings this week. On the whole, "digital advertising is continuing to eat up share" of worldwide advertising, Williamson said.

Persons: Li, Susan Li, Debra Aho Williamson, William Blair, Williamson, Meta Organizations: Google, YouTube, Insider Intelligence, CNBC, Intelligence, Meta, Investors, Bank of America Global Research Locations: Paris, Russia, Ukraine, China, Red

☆ Stocks sink after Fed Chair Powell pleads for patience on rate cuts
▼ + stars: | 2024-02-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks fell Monday morning after Federal Reserve Chair Jerome Powell said Sunday the central bank is not ready to cut interest rates yet. We just want some more confidence before we take that very important step of beginning to cut interest rates,” he said in a “60 Minutes” interview with CBS that aired late Sunday. Traders see a mere 15% expectation that the Fed will cut rates in March, compared to 46% a week ago. Elsewhere, McDonald’s shares fell 3.9% after the fast-food chain reported mixed earnings and said that turmoil in the Middle East is hurting its business. Boeing shares lost 1.2% after a new problem has been found during the production of 737 Max jets that will force Boeing to rework about 50 planes that have not yet been delivered.

Persons: Jerome Powell, ”, Dow, Powell, ’, McDonald’s, Estee Lauder Organizations: New, New York CNN, Sunday, CBS, Nasdaq, Treasury, Traders, Boeing Locations: New York, mull, pare

☆ Here are Jim Cramer's rapid-fire takes on 5 stocks in the news Monday
▼ + stars: | 2024-02-05 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

Jim Cramer said this deal is Novo's way to "get more product" and addresses the "tremendous shortage" of these high-demand drugs. Shares of Eli Lilly , a stock in the CNBC Investing Club 's portfolio, were also up more than 4% ahead of Tuesday's earnings. Snap – The social media firm laid off 10% of its workforce ahead of Tuesday's earnings. Jim pointed out that Club name Starbucks (SBUX) has also been experiencing the same thing. Jim said buy McDonald's stock on weakness.

Persons: Jim Cramer, Eli Lilly, Lilly, Cramer, Cigna –, Cantor Fitzgerald, Jim Organizations: Nordisk, Catalent, CNBC, Microsoft, RBC Capital, Humana, Starbucks, Mattel –, JPMorgan, Vision, Apple Locations: Danish, Israel

☆ Stocks making the biggest moves midday: Nvidia, Boeing, Snap, Tyson Foods and more
▼ + stars: | 2024-02-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

McDonald's posted adjusted earnings of $2.95 per share on $6.41 billion in revenue. Analysts had expected earnings of $2.82 per share and $6.45 billion in revenue, according to LSEG, formerly known as Refinitiv. Analysts polled by FactSet forecast earnings of $2.30 per share on $8.9 billion in revenue for the fourth quarter. The company posted adjusted earnings of 69 cents per share on revenue of $13.32 billion. Caterpillar reported adjusted earnings of $5.23 per share on revenue of $17.07 billion.

Persons: Goldman Sachs, McDonald's, Eli Lilly, Jim Umpleby, Estée Lauder —, Dali Rajic, —, Macheel, Jesse Pound, Hakyung Kim, Alex Harring, Michelle Fox, Sarah Min, Darla Mercado Organizations: Nvidia, Novo Nordisk —, Novo Holdings, Novo Nordisk, Management, U.S . Food, Boeing —, Boeing, Tyson, Caterpillar, Air Products, Chemicals, Reuters Locations: Novo, U.S

☆ Morgan Freeman: Auburn star Johni Broome bats away a spectator’s hand before realizing it’s Hollywood actor
▼ + stars: | 2024-02-04 | by ( Issy Ronald | ) edition.cnn.com time to read: +1 min

Then came a moment of realization: the fan in question was in fact Oscar-winning actor Morgan Freeman. Broome was immediately apologetic and later went over to Freeman to apologize again, in between helping Auburn to a 91-77 victory on the road against Ole Miss on Saturday. “I thought it was an Ole Miss fan grabbing my jersey, holding on to me,” Broome told reporters after the game. “I came back out there again, and I’m just like, ‘I’m sorry, again,’” Broome said. His team held on to snap Ole Miss’ 14-game unbeaten streak at home.

Persons: courtside, Johni, Oscar, Morgan Freeman, Broome, Freeman, “, ” Broome, ’, ‘, ’ ” Freeman, ”, I’m, ’ ” Broome, Ole Miss ’ Organizations: CNN, University of Mississippi, Auburn, Ole Miss, Ole

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

☆ Loss, pain, harm: Grieving parents set the tone at this week’s tech CEOs hearing. It could change things
▼ + stars: | 2024-02-03 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

New York CNN —Wednesday’s online youth safety hearing with some of the world’s leading social media CEOs was unlike the many that came before it in recent years. During the hearing, Zuckerberg and Spiegel, along with the CEOs of TikTok, Discord and X, also faced calls to meet with the families affected by their platforms. And Wednesday night, after the event, some parents said the apologies did not go far enough. X CEO Linda Yaccarino thanked the “parents, families, and young people” who attended the hearing in a post on the platform. “We just saw yesterday the extent of the damage that this has done, these platforms have done,” he said.

Persons: Mark Zuckerberg, Evan Spiegel, Zuckerberg, Spiegel, Bridget Norring, “, Joe Benarroch, Linda Yaccarino, ”, ” Clint Smith, ” Snap’s Spiegel, Charlie, Connecticut Democrat Sen, Richard Blumenthal, ” Minnesota Democrat Sen, Amy Klobuchar, they’d, New York Democrat Sen, Chuck Schumer, …, Schumer, ” Sam Chapman, Missouri Republican Sen, Josh Hawley, Dick Durbin, Hawley, we’re, –, Brian Fung, Morgan Rimmer Organizations: New, New York CNN, CNN, ”, Meta, Connecticut Democrat, ” Minnesota Democrat, New York Democrat, Missouri Republican, Democratic Locations: New York, Snapchat, Connecticut, ” Minnesota

☆ Mark Zuckerberg has a new look
▼ + stars: | 2024-02-03 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Mark Zuckerberg was forced to stand up and apologize to the parents of dead children in the room. Zuckerberg has kept his hair short over the last decade. AdvertisementLet's investigate:Mark Zuckerberg walks into the Senate with a new growth. Kevin DietschAnd yet here, the hair doesn't look long at all; it's barely touching the top of his collar:Here, the hair is just slightly down his neck.

Persons: —, Mark Zuckerberg, Linda Yaccarino, Sen, Tom Cotton, Zuckerberg, Caesar, he's, Alex Wong, Anna Moneymaker, Kevin Dietsch, BRENDAN SMIALOWSKI, Champ, Brittany Stevens Organizations: Service, Meta, Business, Pillsbury, Senate, Alex Wong Computer, USA

☆ Snap begins a new round of layoffs with staffers expecting more next week
▼ + stars: | 2024-02-03 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

The Snapchat company let go of several dozen staffers on Friday, according to two people familiar with the company. Many Snap employees took the memo as a hint that more company changes were coming. Staffers have been "on pins and needles" about layoffs in recent weeks, according to one of the people familiar with the company. In September, Snap let go of about 150 people after shutting down a short-lived division for creating augmented reality tools for businesses. Evercore senior managing director Mark Mahaney said in mid-January that "Snap has yet to snap back."

Persons: Evan Spiegel, Spiegel, It's, Jerry Hunter, Hunter, Snap's, Nima Khajehnouri, Bernstein, Evercore, Mark Mahaney Organizations: Business, Meta, Block, PayPal

☆ Wall Street sees more upside for these 5 portfolio stocks — all tech except for 1 retailer
▼ + stars: | 2024-02-03 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Wall Street analysts had a lot to say about our portfolio names as Big Tech earnings dominated the action. Alphabet Wall Street's call: Goldman Sachs raised Alphabet's 12-month price target to $171 per share from $164 after earnings. The Club's take: We raised our price target on Alphabet's following its post-earnings slump. Meta Platforms Wall Street's call: Meta Platforms received tons of price target increases Friday. Meta shares jumped more than 20% on Friday to a new record-high close.

Persons: Goldman Sachs, Goldman, we're, Jim Cramer, Meta, Mark Zuckerberg, CY27E, Oppenheimer, COST's, Jim Cramer's, Jim, Brendan Mcdermid Organizations: Wednesday's Federal, Wall Street, Big Tech, Microsoft, Barclays, Super, Citi, Meta, Investors, Nvidia, Bank of America, Club, Costco, CNBC, Traders, New York Stock Exchange Locations: CY23, New York City, U.S

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