HSBC (HSBC) Shares Decline Amid Layoff Plans and Target Price Cut

Nov 08, 2024

HSBC Holdings (HSBC, Financial) experienced a 2% decrease in its pre-market trading price, currently at $45.9. The decline follows announcements from HSBC executives regarding imminent layoffs, which are expected to take place in the coming weeks and primarily affect senior-level positions.

Additionally, Halliburton has revised its target price for HSBC, lowering it from $50 to $38. This adjustment reflects the market's response to the ongoing restructuring efforts within the company.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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