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Meta soared as it plans to rein on costs and a new $40 billion share buyback. Meta CEO Mark Zuckerberg calling 2023 the "Year of Efficiency." with plans to cut costs in 2023 by $5 billion to between $89 billion and $95 billion compared with its earlier outlook of $94 billion to $100 billion. Meta results sparked a rally in shares of other mega-cap firms. https://www.reuters.com/technology/meta-surges-cost-cut-buyback-plans-lifts-mega-cap-stocks-2023-02-02/ submitted by /u/Progress_8 [comments]

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