Day: January 16, 2021

FB – Facebook to ban ads promoting weapon accessories, protective gear in U.S.

FILE PHOTO: A member of Michigan Liberty Militia stands with a gun while supporters of U.S. President Donald Trump rally outside the State Capitol building as votes continue to be counted following the 2020 U.S. presidential election, in Lansing, Michigan, U.S., November 7, 2020. REUTERS/Shannon Stapleton/File Photo

(Reuters) – Facebook Inc said on Saturday it will ban advertisements for weapon accessories and protective equipment in the United States with immediate effect until at least two days after U.S. President-elect Joe Biden’s inauguration on Jan. 20.

Following the attack by supporters of President Donald Trump against the U.S. Capitol on Jan. 6, the social media company said it will now prohibit ads for accessories such as gun safes, vests and gun holsters in the United States.

“We already prohibit ads for weapons, ammunition and weapon enhancements like silencers. But we will now also prohibit ads for accessories,” Facebook said in a blog post.

Three U.S. senators sent a letter to Facebook Chief Executive Mark Zuckerberg on Friday asking him to permanently block advertisements of products that are clearly designed to be used in armed combat.

The senators, all Democrats, said the company must take this and other actions to “hold itself accountable for how domestic enemies of the United States have used the company’s products and platform to further their own illicit aims.”

Facebook on Friday blocked the creation of any new Facebook events in close proximity to places such as the White House and U.S. Capitol in Washington, as well as state capitol buildings, through Jan. 20.

The FBI has warned of armed protests being planned for Washington and all 50 state capitals in the run-up to the inauguration.

Buzzfeed reported this week that Facebook has been running ads for military equipment next to content promoting election misinformation and news about the violence on Jan. 6.

A Facebook company spokesperson said all the pages identified in the Buzzfeed story had been removed, and that the company was working with intelligence and terrorism experts and law enforcement.

Reporting by Ann Maria Shibu in Bengaluru; Editing by Sonya Hepinstall

ATVI – Activision Blizzard shares are trading near an all-time high as video game sales continue to rise

Activision Blizzard (NASDAQ: ATVI) shares are trading near an all-time high, and as long the price is above $80, this stock remains in a bull market. Morgan Stanley raised its price target to $108 on Activision Blizzard, while J.P. Morgan expects that the whole sector will increase sales in the upcoming months.

Fundamental analysis: Video game sales jumped to a new record in December, and this trend should continue

Activision Blizzard, Inc. is an American video game holding company with five business units: Activision Publishing, Blizzard Entertainment, King, Major League Gaming, and Activision Blizzard Studios. Activision Blizzard shares are trading near record level, supported by the news that videogame sales jumped to a new record in December.

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Activision Blizzard reported Q3 results in the last week of October; total revenue has increased by 46.3% Y/Y to $1.77B while Q3 GAAP EPS was $0.78 (beats by $0.16). Total revenue has risen above the expectations (+$70M), but the company had significantly lower cash flow than expected and a decline in users from Q2.

The company raised its expectations for the full year and expected non-GAAP earnings per share of $3.08 (previously $2.87) and revenues of $7.67B (previously $7.25 billion).

Activision Blizzard is handling the coronavirus threat very well, and it is attracting investors’ attention in this uncertainty on the financial markets. MKM Partners raised its price target on Activision Blizzard to $105 from $100 on expectations for more growth drivers ahead.

“Activision Blizzard remained enthusiastic about growth prospects and attributed the performance to the good execution of Activision Blizzard’s teams. During the lockdown, other forms of entertainment (like sports and movie theaters) remain stalled because of social distancing and shelter-in-place orders during the pandemic. With few other options, more people than ever are turning to video games,” said Activision Blizzard CEO Bobby Kotick.

J.P. Morgan is also bullish on Activision Blizzard, and it expects that the whole video game sector will increase sales in the upcoming months. Morgan Stanley raised its price target to $108 for ATVI, and Activision Blizzard remains its top gaming pick for 2021.

The video game sector remains a substantial area of growth, and even as the end of the coronavirus comes into sight, more consumers are expected to retain this habit. Technically looking, Activision Blizzard shares could advance above $100 resistance this January, but with a $70B market capitalization, this stock is expensive, in my opinion.

Technical analysis: The first sign of the trend reversal could be if the price falls below the $80 support

Activision Blizzard shares remain in the bull market, and the first sign of the trend reversal could be if the price falls below the $80 support.

Data source: tradingview.com

The critical support levels are $80 and $70; $95, $100, and $105 represent the resistance levels. If the price jumps above $95, it would be a signal to buy shares, and the next target could be around $100 or even $105.

If the price falls below the $80 support level, it would be a firm “sell” signal, and the price could fall to $70.

Summary

Activision Blizzard shares are trading near an all-time high, and the company remains enthusiastic about growth prospects. Morgan Stanley raised its price target to $108 on Activision Blizzard, while J.P. Morgan expects that the whole sector will increase sales in the upcoming months.

DECN – SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Decision Diagnostics Corp. and Encourages Investors with Losses in Excess of $500,000 to Contact the Firm

LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Decision Diagnostics Corp. (“Decision Diagnostics” or “the Company”) (OTC: DECN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between March 3, 2020 and December 17, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before March 16, 2021.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Decision Diagnostics failed to develop a viable COVID-19 test in any form, let alone a test that could detect the virus in less than one minute. The Company was not capable of meeting the FDA’s EUA testing requirements for its purported COVID-19 test. Despite this inability to meet FDA requirements, the Company touted an unrealistic time to market for its tests. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Decision Diagnostics, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

SPLK – Investor Reminder: Kessler Topaz Meltzer & Check, LLC Reminds Investors of Splunk Inc. of Fast Approaching Deadline

RADNOR, Pa., Jan. 16, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP reminds Splunk Inc. (NASDAQ: SPLK) (“Splunk”) investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of California against Splunk on behalf of those who purchased or otherwise acquired Splunk common stock between October 21, 2020 and December 2, 2020, inclusive (the “Class Period”).
Reminder: Investors who purchased or otherwise acquired Splunk common stock during the Class Period may, no later than February 2, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP (James Maro, Esq. (484-270-1453) or Adrienne Bell, Esq. (484-270-1435)); toll free at (844) 887-9500; via e-mail at info@ktmc.com; or click https://www.ktmc.com/splunk-inc-securities-class-action?utm_source=PR&utm_medium=link&utm_campaign=splunk.According to its filings with the SEC, Splunk “provides innovative software solutions that ingest data from different sources including systems, devices and interactions, and turn[s] that data into meaningful business insights across the organization.” Splunk states that its “Data-to-Everything platform enables users to investigate, monitor, analyze and act on data regardless of format or source.”The Class Period commences on October 21, 2020, when Splunk held a call with several analysts at the Virtual Analyst & Investor Session at .conf.20. On this call, Splunk assured investors that everything was on track for the close of the third quarter, which was just ten days after the call.However, the truth regarding its third quarter was revealed after the market closed on December 2, 2020, when Splunk announced its financial results for its third fiscal quarter for 2021. In its announcement, Splunk reported total revenues of $559 million, down 11% year-over-year and which missed estimates by nearly $60 million. Furthermore, Splunk announced quarterly non-GAAP earnings per share of -$0.07, missing estimates by $0.15, as well as GAAP earnings per share of -$1.26, missing by $0.24 per share.Following this news, shares of Splunk common stock fell, closing at $158.03 per share on December 3, 2020, down over 23% from the December 2, 2020 closing price of $205.91 per share.The complaint alleges that, throughout the Class Period, the defendants misrepresented and/or failed to disclose to investors that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result of the foregoing, the defendants’ public statements were materially false and misleading at all relevant times.If you wish to discuss this securities fraud class action lawsuit or have any questions concerning this notice or your rights or interests with respect to this litigation, please contact Kessler Topaz Meltzer & Check, LLP (James Maro, Jr., Esq. or Adrienne Bell, Esq.) at (844) 887-9500 (toll free) or (610) 667–7706, or via e-mail at info@ktmc.com.Splunk investors may, no later than February 2, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP, or other counsel, or may choose to do nothing and remain an absent class member.  A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.CONTACT:Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
(610) 667-7706
info@ktmc.com

QS – ROSEN, LEADING GLOBAL INVESTOR COUNSEL, Reminds QuantumScape Corporation Investors of Important March 8 Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact Firm – QS

NEW YORK, Jan. 16, 2021 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of QuantumScape Corporation (NYSE: QS) between November 27, 2020 and December 31, 2020, inclusive (the “Class Period”) of the important March 8, 2021 lead plaintiff deadline in the case. The lawsuit seeks to recover damages for QuantumScape investors under the federal securities laws.

To join the QuantumScape class action, go to http://www.rosenlegal.com/cases-register-2017.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company’s purported success related to its solid-state battery power, battery life, and energy density were significantly overstated; (2) the Company’s battery technology was not sufficient for electric vehicle performance as it would not be able to withstand the aggressive automotive environment; (3) the Company’s battery technology likely provided no meaningful improvement over existing battery technology; (4) the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles (5) the successful commercialization of the Company’s battery technology was subject to much more significant risks and uncertainties than defendants had disclosed; and (6) as a result of the foregoing, defendants materially overstated the value and prospects of the Company’s battery technology. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 8, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-2017.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.

      Phillip Kim, Esq.

      The Rosen Law Firm, P.A.

      275 Madison Avenue, 40th Floor

      New York, NY 10016

      Tel: (212) 686-1060

      Toll Free: (866) 767-3653

      Fax: (212) 202-3827

      [email protected]

      [email protected]

      [email protected]

      www.rosenlegal.com

SOURCE Rosen Law Firm, P.A.

Related Links

http://www.rosenlegal.com

AAPL – Apple Tests Foldable Screen For iPhone: Bloomberg

The Samsung Galaxy Fold is one foldable phone already on the market.

Apple is working on a foldable iPhone, Bloomberg has reported.

What Happened: Apple Inc (NASDAQ: AAPL) has started working on a new iPhone model with a foldable screen.

The tech giant has developed prototype screens and is still in the process of internal testing, according to Bloomberg. There has not been an official decision on any launches, the financial news outlet reported.

The prototype screen would make the iPhone bigger and “more pocketable.” 

A person familiar with the testing told Bloomberg that screens would have “a mostly invisible hinge with the electronics stationed behind the display.” 

Why It Matters: Apple has not announced any major changes for 2021 production yet, fresh off changes it made in 2020 for new designs, package conditions and 5G.

But the Cupertino, California-based company is trying out one new feature: an in-screen fingerprint reader to unlock the smartphone.

Under current conditions, where people have to wear masks due to the COVID-19 pandemic, making facial recognition difficult, this feature would be useful to iPhone users.

Price Action: Apple shares fell 0.25% and closed at $126.82 in the post-market trading on Friday, after a $127.14 close in the regular hours trading.

Image credit: Unsplash.com

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

SPLK – ROSEN, A LEADING AND LONGSTANDING LAW FIRM, Reminds Splunk Inc. Investors of Important Deadline in Securities Class Action – SPLK

NEW YORK, Jan. 16, 2021 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Splunk Inc. (NASDAQ: SPLK) between October 21, 2020 and December 2, 2020, inclusive (the “Class Period”), of the important February 2, 2021 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Splunk investors under the federal securities laws.

To join the Splunk class action, go to http://www.rosenlegal.com/cases-register-2000.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 2, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-2000.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

      Laurence Rosen, Esq.

      Phillip Kim, Esq.

      The Rosen Law Firm, P.A.

      275 Madison Avenue, 40th Floor

      New York, NY 10016

      Tel: (212) 686-1060

      Toll Free: (866) 767-3653

      Fax: (212) 202-3827

      [email protected]

      [email protected]

      [email protected]

      www.rosenlegal.com

SOURCE Rosen Law Firm, P.A.

Related Links

www.rosenlegal.com

WYNN – Wynn Resorts Gets Its WynnBET App Into Four More States

Casino company Wynn Resorts (NASDAQ:WYNN) is expanding the availability of its WynnBET online sports betting app to seven states from the current two, according to a press release yesterday, and is negotiating for access to more. At least some of the entries into new state markets come from partnerships, with WynnBET’s rollout in Iowa resulting from an alliance with in-state company Elite Casino Resorts.

Wynn’s efforts to enter the digital sports betting arena represent an effort to adapt to changing gambling conditions in the U.S. accelerated by the COVID-19 pandemic and lockdowns. With casinos entirely closed for months on end, people turned rapidly to online alternatives, driving a banner year for the internet sportsbook industry and its major players, such as Penn National Gaming (NASDAQ:PENN) and DraftKings (NASDAQ:DKNG).

A welcome sign on the border of Iowa.

Image source: Getty Images.

While COVID-19 vaccinations may help casinos avoid similarly long-lasting restrictions in 2021, online sports betting appears to be here to stay, particularly in view of its longtime popularity in the rest of the world, long before the pandemic occurred.

Wynn expects the launch of its sports betting to occur soon in Michigan, joining the two states where it is already operating, Colorado and New Jersey. The deals it announced yesterday will also enable offering its digital sportsbook in Indiana, Iowa, Massachusetts, and Nevada. According to the Las Vegas Review-Journal‘s reporting, Iowa legalized this form of wagering in 2019. However, online betting in the state was hampered by a legal requirement for in-person registration. This restriction expired on Jan. 1, 2021, and the Hawkeye state is predicted to see a $4 billion online betting handle by 2024, MarketWatch reports.

GM – GM To Begin Producing New Line Of Electric Commercial Vans This Year In Canada

General Motors Company (NYSE: GM) is set to begin churning out new commercial electric vans by the end of this year.

What Happened: The Detroit-based automaker and Canadian union Unifor have tentatively agreed to produce the electric light-commercial van, the EV600, at the CAMI manufacturing plant in Ingersoll, Ontario. GM is investing $800 million into the plant.

Although the agreement still needs to be approved by the union’s rank and file, GM said in its announcement late on Friday that “work will begin immediately” so the plant can begin delivering the vans late this year.

Part Of BrightDrop: The project is part of a new line of business GM launched this past week called BrightDrop, a play to get an edge in both e-commerce logistics and vehicle electrification. Besides the EV600 van, BrightDrop also will offer an electric pallet called the EP1 for moving goods from delivery trucks to customers’ doors, as well as software to support the new offerings.

GM said FedEx Corporation (NYSE: FDX) has signed up as the first customer of the EV600, for use as part of the FedEx Express service.

GM shares ended down 3.01% on Friday, at $49.97.

Photo courtesy GM.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

PYPL – Analyst: PayPal Holdings Has 46% Upside Thanks to Bitcoin Surge

One prognosticator following PayPal Holdings (NASDAQ:PYPL) feels the company is deserving of far more investor love. In a research note circulated on Friday, Dan Dolev of Mizuho Securities raised his price target on the stock to a “street high” of $350 per share, quite a hike from the previous $290. His recommendation, not surprisingly, is a buy. The new level is 46% higher than the shares’ most recent closing price.

One big factor is at play with Dolev’s increase — bitcoin specifically, and cryptocurrencies generally.

Bitcoin in front of financial graph display on monitor.

Image source: Getty Images.

“Both our survey and management commentary unveil a dramatic increase in engagement due to crypto,” he wrote in his note. He pointed out that PayPal said 50% of its users active in cryptocurrency were interacting with the company’s app on a daily basis.

Dolev believes that this activity will add roughly 10% to PayPal’s adjusted net revenue in 2023, or around $2 billion.

PayPal and cryptocurrency are recent partners. Following a pilot program, in November the company opened cryptocurrency services to all customers throughout the various PayPal services. At the time, it said it would roll this out to its popular peer-to-peer service Venmo too.

In doing so, PayPal was and is heeding high demand for such functionality. In a recent company earnings call, CEO Daniel Schulman said that “our base is very eager for us to offer these capabilities.”

Cryptocurrencies have been on a serious tear lately. This rally has been led, as ever, by pace-setter bitcoin. In just the last month, even after several pull-backs, one bitcoin has zoomed in value to over $36,843 from a shade over $19,194.