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LinkedIn Shocks Social Media Investors

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Shares of LinkedIn Corp, operator of the most popular social network for professionals, fell 20 percent in early trading on Friday, wiping out more than $6 billion of market value, after the company slashed its full-year forecast.

LinkedIn reported on Thursday its slowest quarterly revenue growth since it went public four years ago.

The surprisingly weak results followed Twitter Inc’s on Tuesday. Twitter’s stock fell by as much as 24 percent, slicing about $6 billion off its market value.

Even Facebook Inc posted its slowest growth in quarterly revenue in two years last Wednesday, and its shares have fallen about five percent since.

Facebook’s earnings were better than expected, though, and the comparatively small drop in its stock price indicated a level of investor confidence not shown to Twitter and LinkedIn.

LinkedIn cited slower revenue growth in its hiring business and a delay in recognizing revenue from lynda.com – the online education company it agreed to buy last month – for its weaker results and cut in profit and revenue forecast.

LinkedIn’s shares fell to about $200 in early trading, far below their record high of $276.17 reached in late February.

At least 23 brokerages cut their price targets on the stock, by as much as $65 to as low as $172.

Still, in contrast to Twitter, most analysts were upbeat about LinkedIn’s prospects.

“The market is putting LinkedIn in the Twitter bucket,” analysts at Stifel Nicolaus wrote. “We think the market is wrong. LinkedIn is not Twitter.

“Yes, this is a reset but we believe LinkedIn is a sustainable and dominant franchise that is becoming woven into the fabric of our daily professional lives.”

Stifel, which has a “buy” on LinkedIn, cut its price target to $250 from $300.

RBC Capital Markets analyst Mark Mahaney also said the market had overreacted. “While we are incrementally less positive, we’re not 20 percent less positive,” Mahaney said.

RBC kept its “outperform” rating, but cut its price target to $275 from $300.

Pacific Crest analysts kept their “overweight” rating while cutting their price target to $250 from $295.

“We like LinkedIn on its strong fundamentals, the shift from traditional offline recruiting to online, and its superior products versus its competition,” they said in a note.

Of 41 analysts covering the stock, 31 rate it “buy” or higher while nine have a “hold”, according to Thomson Reuters data.

Only one brokerage, Brean Capital, rates the stock “sell”.

“Weaker results were blamed on a large sales force re-org and FX, but we think the company is scrambling to buy growth and the re-org is due to product fatigue,” Brean analysts wrote.


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NIMC Grants NCoS Licence to Register Inmates for NIN

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National Identity Management Commission (NIMC) has granted licence for the Nigerian Correctional Service, (NCoS) to register inmates in the over 252 custodial centres across the country for National Identity Numbers, (NIN).

NIMC Grants NCoS Licence to Register Inmates for NIN

The approval followed the request made by Sylvester Nwakuche, acting controller general of the NCoS, who paid a visit to Engr Abisoye Coker-Odusote, director general/chief executive Officer of NIMC, in her office.

The acting controller-general, said the licence to carry out registration of inmates for NIN would eliminate exclusion of inmates from the country’s National Development plans, ensure their safety and security and facilitate their smooth recapture in times of jailbreaks.

The NCoS boss said the visit to the headquarters of NIMC was in search of collaboration that would enable the Service carry out its mandate seamlessly following on going reforms of the Correctional Service system.

According to Nwakuche, there are lots of socio-economic developments within the Correctional Service systems which had led to a number of inmates obtaining University degrees, Masters Degrees and Doctor of Philosophy (PhD) in various fields.

He said such inmates should not be excluded from the national development plans of the country as they should be integrated into the society to become useful for their families and the country.

Nwakuche said inside the Correctional centres are those awaiting trials whose innocence and otherwise has to be decided by the Courts, but argued that in times of National planning, census and other critical national development issues, they should not be disallowed from participating.

Coker-Odusote who granted the licence said NIN has become critical and essential to the country’s national development plans, stressing that NIMC has gone far with the private sector, especially the banks and the Central Bank of Nigeria (CBN) as all banks accounts are now linked with the NIN.

Coker-Odusote said the Eight points Agenda of President Bola Tinubu are also anchored on the Country’s digital identity or National identity Number, stressing that for instance NIN was tied to students loans to eradicate duplicity and prevent ghost beneficiaries.

Coker-Odusote expressed delight in the partnership with the NCoS, saying that the Commission had already entered into partnership with the Nigeria Immigration Service, NIS and other agencies in order to facilitate the smooth delivery of their constitutional mandates.

She commended Dr Olubunmi Tunji-Ojo, minister of Interior, for his dynamic leadership and role in ensuring the delivery of dividends of democracy to Nigeria through various reforms.


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NIMC Trains 388 Personnel to Boost NIN Enrolment

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National Identity Management Commission (NIMC) has kicked off a three-day training program for 388 personnel aimed at enhancing the National Identification Number (NIN) enrolment process across the country.

NIMC Trains 388 Personnel to Boost NIN Enrolment

The training, tagged “Refresher Training of Trainers on NIN Integration to the National Social Register: Technical and hands-on devices and field operations and procedures”, is in collaboration with the National Social Safety-Net Coordinating Office.

The training is also to equip personnel with the necessary skills to efficiently handle the complexities of enrolment processes

In her address at the event held in Port Harcourt on Monday, Abisoye Coker-Odusote, director-general and chief executive officer, NIMC, noted that the initiative aligns with the commission’s overarching goal of achieving secured and great success for the Renewed Hope social initiatives.

Represented by Adedapo Adedoyin, her technical advisor on ICT, the NIMC DG said the event is a pivotal initiative that marks a significant step forward in our mission to enhance and modernize the National Identification Number enrolment process across Nigeria.

She stated, “Today, I am pleased to announce the launch of a comprehensive training program aimed at refreshing the technical and operational skills of the National Social Safety-Net Coordinating Office State Operations Coordinating Unit and NIMC staff.

“This initiative focuses on practical and field-based exercises, ensuring that our teams are well-equipped to handle the complexities of enrolment processes with precision and efficiency.

“This initiative aligns with our overarching goal of achieving secured and great success for the Renewed Hope social initiatives. Through verified digital identification, we aim to improve the lives of Nigerians by providing them with access to essential services and opportunities that require a reliable and secure identity verification system”.

Coker-Odusote explained that the training program will be conducted in two batches, encompassing four states: Kwara, Nasarawa, Kano, and Rivers. A total of 388 attendees will participate in this initiative, including 225 NASSCO State Operations Coordinating Unit representatives, 35 NIMC facilitators, and 128 State support staff.

She added, “The sessions are meticulously designed to foster knowledge sharing and hands-on experience with NIMC’s enrolment device and software, ensuring that our personnel are adept at using these tools to their full potential.

“By empowering our teams with enhanced skills and practical experience, we are setting the stage for more efficient and accurate NIN enrolment processes across the nation”.

Coker-Odusote further said the training program “is a crucial step toward achieving the World Bank’s Identification for Development Initiative target of enrolling 180 million Nigerians with secure digital IDs.

“By bolstering our technical and operational capabilities, we are ensuring that NIMC is well-positioned to meet and exceed this target, thereby contributing to the global vision of inclusive and accessible digital identification for all”.

The NIMC boss8 called for collaboration between all stakeholders saying, “As we embark on this journey, I urge all participants to embrace this opportunity for growth and development.

“Together, we can build a robust and efficient National Identification System that will serve as the cornerstone for Nigeria’s social and economic progress.”

 


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Kaspersky Discovers New Scam Scheme Targeting Businesses on Social Media

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Kaspersky experts have uncovered a new phishing scam targeting businesses that promote their pages on Facebook. Scammers send emails allegedly on behalf of Meta for Business – Facebook’s platform for businesses – claiming the recipient’s page contains prohibited content.

The email suggests users provide explanations in order for their account and page to be unblocked. The goal of the attackers is likely to get access to users’ business accounts.

Kaspersky’s anonymised data shows that such emails started reaching users on 14 December 2024, with complaints coming from organisations all over the world, including the Middle East, Turkiye and Africa.

By examining the “From” field in the email it can be seen that the domain does not belong to Facebook. According to Kaspersky data the emails that this campaign used were sent from different domains.

The link in the email redirects users to Facebook Messenger. On Messenger, the account posing as Facebook’s support team appears legitimate, creating a false sense of trust.

There is an indication that this is a fan page, but it is easy to miss in a situation of high stress after being accused of spreading illegitimate content.

This scheme stands out for its sophistication. Unlike earlier scams that accused users of copyright violations and directed them to respond via email, this approach simulates internal communication on the Facebook platform itself.

“In 2025, we anticipate a rise in attacks leveraging social engineering and user trust in major platforms. Scams like this are becoming more sophisticated as attackers strive to mimic official services closely.

“Users must remain vigilant, verify the authenticity of messages, and avoid clicking on suspicious links. We strongly advise users not to engage with suspicious accounts and to activate additional security measures, such as two-factor authentication.

“If you receive such an email, report the incident to Facebook’s support team and update your passwords immediately if any information has been compromised,” comments Andrey Kovtun, Email Threats Protection Group Manager at Kaspersky.

 

 


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