On this episode of Stock Movers:
Meta (META)

• Meta shares are getting a boost, helping futures move higher, after Bloomberg News reported that it’s expected to meaningfully cut resources for building the so-called metaverse, an effort that CEO Mark Zuckerberg once framed as the future of the company. The reaction indicates clear relief from investors, who have seen it as a drain on resources with little payoff so far.

Snowflake (SNOW)

• Snowflake shares fall as much as 9% in premarket trading after the software company issued a forecast for operating margin in the current quarter that fell short of the average analyst estimate. Analysts noted a deceleration in product revenue growth.

Dollar General (DG)

• Dollar General shares rise 7.4% after the retailer reported its third beat-and-raise quarterly report this year, driven by gross margin outperformance.

Sebastian Escobar