Meta Platforms (META) announces layoffs. META is planning to reduce the workforce in the Facebook Agile Silicon team. JPMorgan cut META’s price target to $400 from $425. The analyst remains positive but reduced the 2024 and 2025 earnings estimates and highlights that META increased 2024 expenses estimated to $97.5B from $93.4B. Jeff Pierce discusses this story. Tune in to find out more about the stock market today.