Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Wednesday, February 4th, and I'm your host, Kim Khan. Our top story so far,

The Washington Post announced sweeping layoffs, cutting about one-third of its staff, and gutting

major parts of the

newsroom, as owner Jeff Bezos and his leadership team struggle for a path to profitability.

Staffers describe the day as a bloodbath and the move signal a sharp narrowing of the

post's ambitions as it looks to right the ship, with reports of steep losses,

including an estimated $100 million in 2024.

The paper is dismantling its sports desk, closing the books section, and suspending the Daily Post Reports podcast.

International coverage is also being scaled back, while the Metro desk, once the heartbeat of the

paper in the Watergate era, is being heavily reduced. The cuts come after weeks of internal

concern, including public pleas

from journalists urging Bezos to change course. And during the layoffs' zoom meeting,

one reporter described the mood as funereal. Among active stocks, AMD is plunging despite

beating on both the top and bottom lines. J.P. Morgan analyst Harlan Sur said the big

question is whether AMD can show real operating leverage,

and until it does, the stock may stay under pressure, especially with potential margin risk,

as it ramps up MI450 Helios later this year.

Eli Lilly is bouncing back after topping street forecasts with its Q4 results in 2026 Outlook.

Its GLP1 drugs, Manjaro and Zepbound beat revenue expectations,

with both up more than 100% from a year ago. Uber is lower after missing Wall Street's lofty

Q4 profit expectations as a shift towards cheaper rides and higher insurance costs weighed on

...