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The Federal High Court sitting in Lagos State has convicted a medical doctor, Anu Adepoju, over a failed plastic surgery that resulted in the d£ath of one Nneka Onwuzuligbo in 2020.

Anu, who’s the founder of MedContour Services LTD, was convicted on Friday, May 17, on a five-count charge bordering on a refusal to honour an invitation for an investigation into post-body surgery complications and failure to produce investigation documents.

Recall that shortly after the news of Onwuzuligbo demise went viral, Anu was arrested and later charged to court alongside her company by the Federal Competition and Consumers Protection Commission (FCCPC) in 2020.

The prosecuting counsel for the FCCPC, Babatunde Irukera, announced the conviction on X.

Irukere had earlier disclosed that the offence carries either a prison term, a fine, or both.

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Shares of Cracker Barrel Old Country Store (CBRL) plunged over 12% in intraday trading Friday after the restaurant and novelty store chain slashed its dividend as it embarked on what it called a “strategic transformation plan,” and lowered its guidance.

The company announced it would be reducing its quarterly dividend to 25 cents from $1.30 as part of its efforts to modify its capital allocation “to support increased investment in the business to drive organic growth.”

Cracker Barrel said that its “strategic transformation plan" is aimed at "driving relevancy, delivering food and an experience guests love, and growing profitability." It said the strategy would include “optimizing the menu, evolving the store and guest experience, winning in digital and off-premise, and elevating the employee experience.”

Cracker Barrel warned that because of weaker-than-expected traffic, it anticipates its current and fourth-quarter results could be lower than previously thought. The company noted a review of its store portfolio in the third quarter led to some closures, along with related expenses and non-cash impairment charges. In addition, it expects fiscal 2025 to be “an investment year,” with earnings before interest, taxes, depreciation, and amortization (EBITDA) in line or slightly below that of 2024.

Cracker Barrel Old Country Store shares were 12.6% lower at $50.02 as of 11:45 a.m. ET Friday. They’ve lost over one-third of their value since the start of the year. 

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Reddit (RDDT) shares soared nearly 12% in extended-hours trading Thursday after the company announced a partnership with OpenAI that allows the ChatGPT owner to train its artificial intelligence (AI) models using the news aggregation social network’s content.

Reddit will give OpenAI access to its application programming interface (API), which provides access to its real-time, structured, and unique content, in exchange for certain OpenAI-powered features being offered to Reddit’s users and moderators. In addition, Reddit will also add OpenAI as an advertising partner.

“Reddit has become one of the internet’s largest open archives of authentic, relevant, and always-up-to-date human conversations about anything and everything,” Reddit CEO Steve Huffman said in a statement released late Thursday. “Including it in ChatGPT upholds our belief in a connected internet, helps people find more or what they’re looking for, and helps new audiences find community on Reddit,” he added.

Reddit struck a similar deal with Google earlier this year in which it allowed the internet search giant’s AI models, such as Gemini, to make its content available for training via the platform’s API. Investors reacted warmly to the latest licensing partnership announced Thursday as it indicates the social media company continues to diversify revenue outside its traditional advertising business.

OpenAI co-founder and CEO Sam Altman is no stranger to Reddit. In 2014, he led the social media company’s $50 million Series B funding round, while investing an additional $60 million over two financing rounds at the height of the pandemic-era tech rally. Altman also sat on the company’s board until 2022 and has a major shareholding in the stock valued at around $750 million after Thursday’s post market jump.

Reddit shares jumped out of the gate after listing in late March but quickly ran into selling pressure after more than doubling from their $34 initial public offering (IPO) price. From mid-April, the stock started to make a V-shaped recovery after forming a bullish engulfing pattern in the high $30s/low $40s. 

Amid further upside after the OpenAI partnership, investors should keep a close eye on the stock’s record high at $74.90. A volume-backed breakout above this closely watched chart area opens the door for the shares to move into uncharted waters and test higher price levels.

Reddit rose 11.7% to $63.00 in after-hours trading.

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Palo Alto Networks (PANW) is set to report earnings for its fiscal third quarter after the bell on Monday, with investors likely watching sales amid concerns about reduced customer spending. The cybersecurity company could also provide updates on its "platformization" strategy in its efforts to become a "one-stop shop" for cybersecurity.

Analysts project Palo Alto Networks' revenue to be $1.97 billion for the third quarter of 2024, down from the previous quarter but up from $1.72 billion in the same period in 2023, according to estimates compiled by Visible Alpha.

Net income is expected to be $143.3 million, a significant drop from the second quarter but up from $107.8 million in the third quarter of fiscal 2023. Analysts anticipate diluted earnings per share (EPS) of 40 cents, compared with 31 cents in the same period a year earlier.

Fluctuations in Palo Alto Networks' financials from quarter to quarter are partly caused by seasonality. The company said it expects higher second- and fourth-quarter revenue and lower first- and third-quarter revenue due to several factors including the timing of customers' spending.

Palo Alto Networks lowered its outlook when reporting second-quarter earnings, citing "spending fatigue" among customers, raising concerns about headwinds for the cybersecurity industry. The guidance cut in late February sent shares lower, but analysts suggested they remain bullish on the company's outlook.

Jefferies analysts on Thursday said there is an "attractive" setup for Palo Alto Networks in the third quarter "despite a lot of background noise." They wrote that they expect Palo Alto Networks' earnings to beat consensus estimates "given positive checks & achievable setup."

The analysts did note the "next hurdle" could be guidance for the 2025 fiscal year, but indicated they don't expect the company to provide this outlook in the third-quarter earnings announcement.

Palo Alto Networks has emphasized its focus on "platformization," consolidating cybersecurity services on its platform and bundling offerings to become a "one-stop shop" for clients.

As part of its "platformization" strategy, Palo Alto Networks has offered incentives such as discounts and deferred payments to draw clients away from rivals and onto its platform. The company has also made a number of recent acquisitions to expand its offerings, announcing its latest on Wednesday with the purchase of IBM's QRadar SaaS assets. Jefferies analysts said they viewed the deal as a modest positive "further cementing PANW's ecosystem lead."

"While there are clearly challenges and risks to executing on its [platformization] strategy, investors that balk may also be missing out on a significant inflection point in the company’s history," William Blair analysts wrote in April, adding that "Palo Alto appears to be one step closer to achieving its strategic goal of becoming a single platform-vendor solution for the cybersecurity space."

The analysts suggested Palo Alto Networks could be "the biggest beneficiary of a platform consolidation play in the space."

Palo Alto Networks shares have gained about 7.4% since the start of the year, at $316.78 as of Thursday's close.

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