$SNAP

Priceline is the first travel brand to use Snapchat's AI Sponsored Snaps, allowing users to chat with its AI agent Penny. The campaign aims to drive awareness and adoption for Penny, which converts users at twice the rate of non-Penny users. Priceline reports a 20% year-over-year increase in average domestic round-trip airfare for Thanksgiving, according to Hotel Dive.

Alphabet (GOOGL), Meta (META), Pinterest (PINS), Snap (SNAP), and Reddit (RDDT) reported Q3 earnings, with ad revenue growth slowing for all. Alphabet's ad share fell to 64%, while Meta's ad revenue grew 26%. Pinterest missed forecasts, Snap saw 4% ad growth, and Reddit's user base may shrink. Alphabet and Meta are considered relatively stable.

B. Riley reduced its price target for Snap (SNAP) to $8 from $10, maintaining a Buy rating, implying 60% upside. Snap's Q3 adjusted EBITDA beat guidance, but ad revenue grew just 4%. B. Riley's target assumes stable share count in 2027, which Snap aims to achieve. The stock is down 38% over the past year.

West Virginia sued Snap Inc. over alleged role in minors' suicides due to sextortion on its platform. The state claims 96% of abuse reports go unreviewed, per the company's internal review. The lawsuit seeks civil penalties and injunctive relief.

Snap settled a lawsuit alleging its technologies caused psychological distress to underage users, avoiding CEO testimony. Meta, TikTok, and YouTube previously settled similar cases. Another case involving these companies is ongoing. Google faces a new lawsuit over its Gemini chatbot's impact on a child. Google is reviewing the claims and working on safety features. According to The New York Times, schools banning Google's AI tools may lose search access.

Tech companies like Meta, Google, Snap, and TikTok face lawsuits over child safety concerns. Snap settled a case confidentially. Google was sued over its Gemini AI chatbot. Experts call for better design safeguards. Meta previously settled a $17B case with state AGs. Google's AI integration in schools is under scrutiny. OpenAI and Anthropic also face litigation risks.

Snap Inc. won an appellate victory as the California Court of Appeal affirmed the dismissal of lawsuits from four school districts. The districts alleged Snap's platform contributed to youth mental health issues and disrupted education. The court ruled that negligence claims were barred by the economic loss rule and that Section 230 shielded Snap from liability for property damage claims.

U.S. stocks ended the week lower, with the S&P 500 down 2.7%, Nasdaq down 3.4%, and Dow down 0.9%. Tech stocks fell due to AI spending concerns and election results. Apple reported revenue of $114.5B, missing China expectations. AMD saw data center revenue nearly double. Palantir raised guidance. CVS plans a split, and Disney considers job cuts. Snap settled a social media addiction lawsuit. The week ahead focuses on the U.S. CPI report.

A California appeals court upheld the dismissal of lawsuits by four U.S. school districts against Meta, TikTok, Snap, and YouTube, which sought to hold them liable for youth mental health issues. The court ruled that the districts' negligence and public nuisance claims were not valid, according to Justice Anne Richardson.

Snap Inc. reported a 4% increase in Q3 ad revenue to $1.37B, while subscriptions grew 84% to $349.7M, driving 74% of YoY revenue growth. Total revenue rose 14% to $1.72B, with net income of $56.5M. Snap will shift to monthly active users as its primary metric in 2027, discontinuing daily user counts for key regions. Advertising growth slowed due to lower brand spending, while subscriptions surpassed 30M paid users.