Gen Digital Inc. - GEN STOCK NEWS

Gen Digital Inc. (NASDAQ: GEN) announced the release of its fiscal 2023 fourth quarter and full-year financial results on May 11, 2023, after market close. Following the announcement, Gen management will hold a conference call at 2 p.m. PT / 5 p.m. ET. The company specializes in cybersecurity and privacy, serving over 500 million users globally with products under brands like Norton and Avast. Investors can access the conference call via a link on Gen's investor relations page.

On April 13, 2023, Gen (NASDAQ: GEN) announced that its products, Norton 360 and Avast Free Antivirus, received SE Labs' awards for Best Home Anti-Malware and Best Free Anti-Malware, respectively. These accolades underscore Gen's dedication to reliable cybersecurity solutions. Michal Pechoucek, the CTO, emphasized the importance of independent tests that validate product performance in real-world scenarios. SE Labs praised Norton and Avast for their consistent success in rigorous testing environments. With over 500 million users globally, Gen aims to enhance digital safety through its cybersecurity brands. The awards reflect both product excellence and the company's commitment to innovation in AI and machine learning.

The risk of encountering stalkerware on mobile devices has surged by 239% globally over the past three years, according to a report by Avast, a brand of Gen (NASDAQ: GEN). Stalkerware, a form of tech abuse, covertly tracks location and monitors smartphone activity. Avast's threat researchers found the number of people targeted rose from an average of 18 per 100,000 in 2020 to 61 per 100,000 in 2022. The rise in stalkerware poses serious safety concerns, as it is often installed secretly by abusive individuals. Avast continues to develop solutions to detect and block these invasive apps.

Gen (NASDAQ: GEN) has launched Avast One Platinum, a premium tier of its cybersecurity services, enhancing digital protection for users. This new offering integrates various features from Avast One Family, including identity theft protection, unlimited 24/7 tech support, and reimbursement coverage of up to $2 million for identity theft-related expenses. Avast One Platinum also includes features such as dark web monitoring, credit report monitoring from three bureaus, and lost wallet protection. Priced at $249.99 annually, it protects up to six family members across 30 devices and is available on multiple platforms.

LifeLock, a brand of Gen (NASDAQ: GEN), issued a report on March 8, 2023, highlighting rising tax fraud methods as the U.S. tax season peaks. Over 90% of taxpayers are filing online, making them vulnerable to identity theft. The IRS uncovered more than $5.7 billion in fraud in 2022 alone. LifeLock's expert, David Putnam, emphasizes preventive measures like filing early and using an IRS Identity Protection PIN. The report details threats such as ghost tax preparers, IRS impersonation scams, and gift card fraud. LifeLock offers identity theft protection services to help restore victims' identities, showcasing their commitment to safeguarding consumers.

The Consumer Cyber Safety Pulse Report by Norton, a brand of Gen (NASDAQ: GEN), reveals how cybercriminals are exploiting AI tools like ChatGPT. Released on March 2, 2023, the report discusses the use of large language models to enhance phishing tactics and create deepfake chatbots. Norton blocked over 3.5 billion threats in 2022, including 90.9 million phishing attempts and 274,000 ransomware attacks. The report emphasizes the growing difficulty for individuals to identify scams and suggests that robust Cyber Safety solutions are essential. Experts recommend avoiding unknown chatbots and updating security systems to counteract these evolving threats.

LifeLock, a leading identity theft protection brand of Gen, announced enhancements to its Million Dollar Protection Package, offering up to $3 million in identity theft coverage. This includes $1 million for reimbursement of stolen funds and expert legal support. Additionally, LifeLock has expanded its Social Media Monitoring to include TikTok and Snapchat, aiming to protect users from account takeovers and scams. The company has also introduced new features in its Lock and Freeze Center, such as guided child freezes and utility alerts, reinforcing its commitment to comprehensive identity protection.