Meta Platforms (META) intentionally sought to make children addicted to Facebook and Instagram in order to drive up advertising revenue, a lawyer for California said Tuesday at the start of a trial in which 29 states are suing the social media giant, according to media reports.
Meta didn't immediately reply to a request for comment from.
Price: $547.93, Change: $-21.04, Percent Change: -3.70%
(Updates with the stock movement in the headline and last paragraph.)Challenger (ASX:CGF) logged AU$0.645 in normalized EPS for fiscal 2026, compared with AU$0.616 a year ago, a Tuesday filing showed.Analysts polled by FactSet expected $0.65.For the 12 months ended June 30, revenue from ordinary activities was AU$2.94 billion versus AU$2.9 billion previously, the Australia-listed investment management company added.The board declared a final dividend of AU$0.16 per share, up from AU$0.15 a year earlier, and a special dividend of AU$0.015 per share. Both are payable Sept. 17 to shareholders on record as of Aug. 26.For fiscal 2027, the company expects core basic EPS of AU$0.45 to AU$0.49.The company also boosted its share buyback program by AU$300 million, taking the on-market authorization to AU$450 million.Challenger shares rose 8% in recent Tuesday trade.
(Updates with the stock movement in the headline and last paragraph)HUB24 (ASX:HUB) logged AU$1.667 in underlying EPS for fiscal 2026, compared with AU$1.178 a year ago, a Tuesday filing showed.For the 12 months ended June 30, revenue from ordinary activities was AU$501.1 million versus AU$406.6 previously, the Australia-listed financial services company added.The board declared a final dividend of AU$0.42 per share, up from AU$0.32 a year earlier, payable Oct. 13 to shareholders on record as of Sept. 8.The company's shares fell nearly 8% in recent Tuesday trade.
(Updates to add stock movement in the headline and the fifth paragraph.)Reliance Worldwide (ASX:RWC) entered into a process deed with Brookfield Capital Partners following Brookfield's unsolicited, non-binding, indicative proposal to acquire Reliance Worldwide shares by way of a scheme of arrangement at AU$4.75 per share, according to a Tuesday Australian bourse filing.The company said the proposal reflects an enterprise value of about AU$4.1 billion and a transaction multiple of 12.1 times fiscal 2026 earnings before interest, taxes, depreciation and amortization (EBITDA) on a post-AASB16 basis, with the board determining to enter into the process deed to enable Brookfield to advance the proposal.Under the process deed, Reliance Worldwide has agreed to exclusivity restrictions including non-solicit, no talk and no due diligence obligations from Aug. 17 to Sept. 15, the filing added.Brookfield has agreed that any scheme implementation deed will include a 30-day "go-shop" provision, under which Reliance Worldwide will be allowed to solicit third-party interest, provide due diligence information and negotiate terms of any alternative proposal, it added.Its shares jumped 24% in recent trading on Tuesday.