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US appeals court allows thousands of lawsuits against social media companies over user addiction claims to proceed
Reuters45d agobearish
US appeals court allows thousands of lawsuits against social media companies over user addiction claims to proceed

A U.S. appeals court on Monday allowed thousands of lawsuits to move forward against Meta Platforms, Alphabet's Google, ByteDance's TikTok, and other social media companies over claims they designed their products to be addictive to young ‌users. The San Francisco-based 9th U.S. Circuit Court of Appeals rejected the companies’ bid to reverse a lower court’s ruling forcing them to ‌face some 2,400 lawsuits over the claims filed in federal court. The companies, which also include Snap Inc's Snapchat, had argued that Section 230 of the Communications Decency Act of 1996 -  which ​shields them from lawsuits over content posted by their users - also shields them from allegations that they failed to warn the public about the addictive nature of their platforms.

The Stock Market Is Finally Rising Again—and It’s Getting Cheaper, Too
Barrons.com48d agoneutral
The Stock Market Is Finally Rising Again—and It’s Getting Cheaper, Too

In a “shrinkflation” world, investors might want to stop and appreciate the stock market, which is giving them more for less. While the is up 22% in the past year, valuations have actually come down, with the forward price/earnings ratio falling from 22.1 times forward earnings to 20 times, per Bloomberg data. Simply put, the “E” is rising faster than the “P.” Second-quarter earnings season has been one for the ages, with 86% of companies beating earnings estimates, above the average of 78%, and S&P 500 companies growing earnings by a startling 50.4% from one year ago, per FactSet.

Snap’s 2 Big Problems That Scream ‘Stay Away From the Stock’
Barrons.com49d agoneutral
Snap’s 2 Big Problems That Scream ‘Stay Away From the Stock’

Snap stock popped after it reported earnings, but soon crackled as the gains disappeared. Shares of Snap initially jumped 15% on Tuesday following its earnings release, as investors cheered stronger-than-expected revenue and earnings. All the growth is coming from the rest of the world, but those users aren’t very valuable, with average revenue per user (ARPU) of just $1, versus $10.26 in North America.

Snap (SNAP) Stock Could Be Undervalued Even After Recent Gains
Simply Wall St.50d agoneutral
Snap (SNAP) Stock Could Be Undervalued Even After Recent Gains

Snap stock has rallied in the last month, yet over a longer window many holders are still sitting on steep losses, which makes the current valuation read more complicated than a simple comeback story. The share price has fallen 93.0% over the past 5 years, so long term investors are still deeply under water even after the recent bounce. Expectations around future advertising revenue and new AI powered wearable products may support higher earnings power, while the risk is that these...

Pinterest Earnings And Revenue Beat But Stock Slides Late
Investor's Business Daily51d agobullish
Pinterest Earnings And Revenue Beat But Stock Slides Late

Pinterest stock fell late Tuesday, despite reporting second-quarter results that topped expectations. Pinterest's in-line third-quarter guidance may have been a disappointment after rival digital ad platforms Reddit and Snap offered stronger forecasts. The San Francisco-based Pinterest earned an adjusted 43 cents per share for the June-ended quarter, up 30% from a year earlier and ahead of the 36 cents per share that analysts polled by FactSet were forecasting.

Snap second quarter results lifted by improving advertising trends
Proactive51d agoneutral
Snap second quarter results lifted by improving advertising trends

Snap Inc (NYSE:SNAP) shares surged 14% following the social media company’s second quarter results, after revenue and adjusted earnings came in ahead of Wall Street expectations and the company provided an upbeat outlook for the third quarter. Snap reported revenue of $1.60 billion for the...