Meta rose 4% to $770.07 in morning trading, Snap gained 4% to $6.77 and Reddit added 2% to $163.12, while the Invesco QQQ Trust fell 0.4%. Truist raised its Meta price target to $1,000, matching the Street high, citing early adoption of the Muse AI agent and a Muse contribution to its estimates; analyst Youssef Squali kept a Buy rating. Snap, which is extending a recent run, is also in focus after shareholder Blue Duck Capital urged the board to raise outside capital to fund its Specs augmented reality glasses unit. Meta's Q2 2026 EPS of $6.18 missed the $7.22 estimate on higher costs, legal charges and severance, and its third-quarter report is likely on October 21.
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Related tickers and likely impact
META
▲ Likely positiveMeta Platforms
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.8T |
| Close on 10/12/2026 | 742.96 |
| Change that session | +3.38% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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