Facebook and Instagram owner Meta Platforms Inc (NASDAQ:META) is planning to cut 5% of the staff it sees as the "low-performers" as well as ditching fact-checkers.
This equates to roughly 3,600 roles, based on the 72,404 global employees recorded as of the end of its most recent earnings report.
Shares in Eli Lilly and Co fell 6.4% after the drugmaker said sales of its Mounjaro and Zepbound weight-loss medications grew more slowly than it had expected.
CEO David Ricks said the US market for incretins – the drugs that target hormones in the gut – grew at 45% compared to the same quarter last year but the company's previous guidance had anticipated an "even faster acceleration".https://investor.lilly.com/news-releases/news-release-details/lilly-provides-update-2024-revenue-guidance-announces-2025
Signet Jewelers Limited (NYSE:SIG) shares plunged more than 22% after the jewellery business unveiled disappointing holiday sales.
The company said for the 10 weeks ending January 11, its same-store sales (SSS) decreased by approximately 2%, citing underperformance in fashion gifting and a shift in consumer preferences to lower-priced items.
Thruvision Group’s shares fell 40% after the company announced a strategic review, including a potential sale, amid mounting cash pressures.
The security technology provider revealed that its current £1.5m cash balance is expected to sustain operations only until May, assuming no major customer orders materialise.