Snap, EA tumble in premarket; Meta, T-Mobile fall, AMD rises

Meta downgraded at HSBC following 4Q miss; announces 2023 as 'year of efficiency'

HSBC 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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Pinterest (PINS) lays off around 150 employees - Bloomberg

Pinterest (NYSE: PINS) will lay off around 150 employees in order to cut costs, according to Bloomberg on Thursday.

The social media company is another in the long line of tech firms to recently announce layoffs, with Bloomberg stating that sources... More

Morgan Stanley on T-Mobile US, (TMUS): Top Pick, 'Encouraging 2023 Guide Defies Fears of a Slowdown'

Morgan Stanley analyst Simon Flannery reiterated an Overweight rating and $175.00 price target on T-Mobile US, (NASDAQ: TMUS)

The analyst comments "Equity: Whilestrong KPIs had been pre-released, T-Mobile was able to provide encouraging forward guidance for operational and financial performance in 2023. The companys... More

BoA cuts Electronic Arts (EA) to neutral following poor 3Q report

Bank of America downgraded Electronic Arts (NASDAQ: EA) to a Neutral (From Buy) rating and cut the price target to $130.00 (From $155.00) following the video game companys 3Q miss.

EA reported 3Q net bookings of $2.34Bn (-5% Y/Y CC), below Streets estimate at $2.49Bn, with both Full Game and PC/Console Live Services well below the Street. Weakness in small titles and new... More