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StreetInsider.com Top Tickers, 6/7/2026
- US stocks close down as oil spikes 12%, job market weakens
- U.S. nonfarm payroll employment unexpectedly falls in February
- Oracle stock falls on report of scrapped Texas data center plans
- Kuwait cuts oil output as storage fills up
- Boeing reportedly nearing 500-aircraft deal with China ahead of Trump visit
- After-hours movers: Marvell, Samsara, GAP, Cooper Cos.
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Meta downgraded at HSBC following 4Q miss; announces 2023 as 'year of efficiency'
February 3, 2023 8:26 AM UTCHSBC Global Research downgraded Meta Platforms (NASDAQ: META) to a Reduce rating (From Hold), and reiterated a price target of $110.00, following the social media companys 4Q results. Meta reported 4Q EPS of $1.76, missing the consensus estimate of $2.20.
The results showed higher users and growing engagement, but a 4.5% revenue decrease and a large restructuring charge of $4.2bn, only partially offset by lower depreciation. 2022 marks the first year of declining revenue at Meta.
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