The server and software company said it will begin a cost-cutting program that will reduce its overall headcount by about 5%, or about 2,500 job cuts, over the next 12 to 18 months.

Elastic shares jumped Friday after the data analytics software provider reported better-than-expected earnings on strong demand for products related to artificial intelligence.

Shares of Macy’s were falling in premarket trading Thursday after the department store owner reported a mixed fourth quarter and issued soft guidance for the current fiscal year. Macy’s posted adjusted earnings of $1.

Shares of Macy’s fell in pre-market trading on Thursday after the major retailer reported mixed fourth quarter earnings and a downbeat outlook for sales, citing “external uncertainties.”