๐ Market Pulse โ Daily of 20 May 2026
๐ Meta Layoffs Begin, Affecting 10% of Workforce
Meta has started its anticipated layoffs, with approximately 10% of its 78,000 employees receiving notifications. The process is being conducted in waves, beginning early this morning, impacting a significant portion of the company's global workforce.
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๐ฏ Target Beats Q1 Earnings Expectations Amid Sales Growth
Target reported first-quarter earnings and revenue that surpassed Wall Street's predictions, with net sales increasing by over 6% year-over-year. The retailer's same-store sales also saw a healthy jump of 5.6% as it works to attract customers back.
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๐ SpaceX Taps Goldman Sachs for Lead Role in Upcoming IPO
SpaceX has reportedly selected Goldman Sachs to lead its upcoming initial public offering, which is anticipated to be a record-breaking event. Goldman Sachs will hold the lead left position in the IPO prospectus.
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๐ Zillow Listings Disappear in Midwest Due to Legal Dispute
Thousands of home listings on Zillow in parts of the Midwest have become unavailable or outdated due to an ongoing legal battle. This disruption is impacting the flow of new listings to the platform, affecting homebuyers.
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๐ Vitalik Buterin Outlines Ethereum Privacy Upgrade Plan
Ethereum co-founder Vitalik Buterin has detailed a three-step plan to enhance native privacy on the network. These short-term changes aim to strengthen the platform's privacy features, moving towards greater user anonymity.
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