Block stock surged on AI-driven layoffs — what to watch when Wall Street reopens
Block shares jumped 16.8% to $63.70 Friday after CEO Jack Dorsey announced more than 4,000 job cuts and an AI-driven overhaul. The company raised its 2026 profit targets and forecast gross profit of $2.8 billion for the first quarter. Block expects $450–$500 million in restructuring charges. First-quarter results are due May 7.