Snap Announces Job Cuts Before Earnings

Snap Inc (NYSE:SNAP) stock is moving lower today, down 3.1% to trade at $16.51, after the social media giant became the latest tech company to announce layoffs, cutting 10% of its workforce. This comes ahead of the Snap's latest earnings report, due out after the close tomorrow, Feb. 6. Snap stock doesn't have the brightest post-earnings history, having closed its last six next-day sessions lower. Over the past two years, SNAP has averaged a large post-earnings swing of 21.8%, regardless of direction, which ...