GEN DIGITAL INC Stock Price, News & Analysis

Norton, part of Gen™ (NASDAQ: GEN), has launched enhanced AI-powered scam protection features across its Cyber Safety product lineup. The company reports that 90% of all cyberthreats now originate from scams and social engineering threats, nearly tripling since 2021.

The new offerings include Genie Scam Protection and Genie Scam Protection Pro, providing AI protection against scams in texts, phone calls, emails, and web browsing. These features are now available in the US across Norton's product range, including Norton AntiVirus Plus, Mobile Security, and 360 plans.

Key features include Safe SMS for text message scam detection, Safe Web for online protection, AI-powered Scam Assistant, and Norton Private Browser. Additional Pro features include Safe Call for blocking scam calls, Safe Email for proactive email scanning, and Scam Support and Reimbursement services for qualifying customers.

Gen Digital (NASDAQ: GEN) has announced the pricing of $950 million in senior notes with a 6.25% interest rate, due in 2033. The private offering, scheduled to close on February 13, 2025, is exempt from Securities Act registration requirements. The company plans to use the proceeds, along with available cash, to repurchase all outstanding 5.00% Senior Notes due 2025.

The notes are exclusively offered to qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S. They will not be registered under the Securities Act or state securities laws, limiting their sale and offer within the United States to qualified exemptions.

Gen Digital (NASDAQ: GEN) has announced a proposed private offering of $1,100 million in senior notes due 2033. The company plans to use the proceeds to repurchase all outstanding 5.00% Senior Notes due 2025 and for general corporate purposes. The offering is exclusively available to qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S of the Securities Act.

The notes will not be registered under the Securities Act or state securities laws, requiring an applicable exemption for any U.S. sales. This announcement does not constitute an offer to sell, purchase, or a solicitation of an offer to buy or sell securities.

Gen (NASDAQ: GEN) released its Q4/2024 Threat Report, revealing a significant surge in cyberthreats with 2.55 billion threats blocked (321 per second). Social engineering attacks comprised 86% of all blocked threats, with a risk ratio of 27.7% in Q4.

Key findings include a 14% rise in phishing attacks and malvertising accounting for 41% of blocked attacks. Social media platforms were major threat vectors, with Facebook representing 56% of identified threats, followed by YouTube (24%) and X (10%). The main scam types were deceptive online ads (27%), fake e-shops (23%), and phishing (18%).

Financial scams peaked in Q4, highlighted by the largest deepfake crypto scam that stole over $7 million. Mobile banking trojans saw significant growth, with BankBot infections increasing by 236% compared to Q3. Personal data threats also escalated, with Gen blocking attacks targeting 4.2 million individuals, a 130% increase from Q3. Ransomware showed a 50% increase in Q4.

Norton's latest study reveals AI's growing influence in online dating, with 60% of users believing they've chatted with AI-generated responses. The study shows significant interest in AI applications, with 64% willing to use AI for pick-up lines and 63% for profile development.

However, AI also enables sophisticated scams, with only 46% of users able to identify fake images. 27% of users reported seeing their photos used without permission. The report indicates a 64% increase in blocked dating scam attacks in the US year-over-year, with 40% of dating app users targeted by scams and 41% of those becoming victims.

Common scams include catfishing (55%), romance scams (34%), sugar daddy/baby scams (32%), and sextortion (31%). Norton has launched Genie, a free AI-powered scam detection app, to help users navigate online dating safely.

Gen Digital (NASDAQ: GEN) reported strong Q3 FY2025 results with revenue reaching $986 million, up 4% year-over-year. The company demonstrated solid financial performance with GAAP operating income increasing 13% to $374 million and operating margin improving by 3 points to 38%.

Key highlights include Q3 diluted EPS of $0.26 (up 18%) and operating cash flow of $326 million (up 3%). Non-GAAP bookings reached $1,036 million, up 3%, while non-GAAP operating income grew 4% to $577 million.

Following strong Q3 momentum, Gen strengthened its FY2025 guidance, now expecting revenue between $3,915-$3,930 million and EPS of $2.20-$2.22. The company also declared a quarterly dividend of $0.125 per share, payable March 12, 2025.

Avast, part of Gen™ (NASDAQ: GEN), has expanded its identity protection solution, Avast Secure Identity, to 15 new countries beyond the US. This expansion comes amid rising identity theft risks and data breaches, with the Q3/2024 Gen Threat Report noting a 614% increase in 'Scam-Yourself Attacks'.

The service offers comprehensive protection features including: Dark Web Monitoring for personal information, Social Media Monitoring for compromised accounts, Restoration Support with specialists, Stolen Wallet Assist, and Financial Monitoring. Identity Theft Insurance is available in Australia and New Zealand, while Financial Monitoring is offered in the UK, Australia, and New Zealand.

The expansion includes major markets such as the UK, France, Germany, Brazil, Mexico, Spain, and Italy. AVG, also part of Gen, has expanded its Secure Identity product to these countries with similar capabilities.

Gen Digital (NASDAQ: GEN) has announced it will release its fiscal 2025 third quarter financial results on Thursday, January 30, 2025, after market close. The company will host a conference call and webcast at 2 p.m. PT / 5 p.m. ET on the same day to discuss the results. Investors can access the conference call dial-in details and live webcast through the company's investor relations website at Investor.GenDigital.com.

Gen has implemented CARES, an employee support initiative focused on helping workers balance caregiving responsibilities with their careers. The program, co-championed by Peter Courtney, P&C Business Partner at Gen, provides resources, community support, and educational materials for employees managing various caregiving roles.

CARES offers multiple platforms for connection, including meetings, webinars, and a Teams channel, where employees can share experiences and access resources. The program includes access to the Employee Assistance Program and information about leave-of-absence options. It operates under Gen's diversity, equity, and inclusion initiatives, aiming to create a supportive environment for all employees, whether they're caring for aging parents, children, or themselves.