Analysts Discuss Meta, Palo Alto, and Truist Financial on CNBC

On October 17, 2024, Truist Financial Corporation announced better-than-expected earnings for the third quarter, reporting a profit of 97 cents per share, surpassing the analyst consensus estimate of 91 cents. This positive outcome was complemented by quarterly sales of $5.14 billion, which also exceeded expectations. In the same context, Mega Platforms, Inc. is reportedly facing smaller, department-specific layoffs as part of internal reorganizations impacting its teams across WhatsApp, Instagram, and Reality Labs. Despite these layoffs, Kevin Simpson from Capital Wealth Planning is optimistic about Meta, expressing confidence ahead of its earnings report. He pointed out that the company is actively buying back shares and paying dividends. Additionally, Jason Snipe of Odyssey Capital Advisors mentioned favorable views toward Palo Alto Networks, highlighting an Overweight rating from Keybanc analyst Eric Heath, who raised his price target for the company from $400 to $435. On the stock performance front, Palo Alto saw a slight decline of 0.4%, closing at $374.83, while Meta also dropped marginally by 0.1% to $576.47. In contrast, Truist Financial's shares gained 1.7%, ending at $43.67 following its strong earnings report. These trends in stock performance illustrate a mixed sentiment within the financial markets regarding these tech and financial companies.