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Revenue of $15.14 billion tops $14.46 billion estimate, and $2.02 in earnings per share (EPS) clears $1.66 estimate. IB revenue better than expected. UnitedHealth Group are earnings better than feared. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Morgan Stanley, Vimal Kapur, Evercore, Uber, Goldman, Jim Cramer's, Jim Cramer, Jim Organizations: Club, Big, WM, Bank of America, Revenues, Johnson, Pharma, Devices, UnitedHealth, Healthcare, Honeywell, Deutsche Bank, Barclays, Tyson, Intel, Qualcomm, Nvidia, Broadcom, Marvell, Texas, Technology, NXP Semiconductors, TAM, Jim Cramer's Charitable, CNBC
"Everybody looks to United as the bellwether of all of health-care services. This will be different," said Lisa Gill, managing director and health care analyst at JPMorgan. The data breach at the Change Healthcare unit forced the firm to take down its massive billing and payment processing service. While the company has restored services for pharmacies, the outage has continued to disrupt operations for health-care providers across the country. Larger providers, such as home infusion services firm Option Care Health , have also warned that the outage could impact their quarterly results.
Persons: UnitedHealth Group's, Lisa Gill, Scott Fidel, UnitedHealth, they'd, James Allred, he's, Allred Organizations: JPMorgan, Healthcare, Optum, OptumRx, Stephens, American Medical Association, Aesthetics, Care Locations: Nashville
What history shows: Goldman Sachs beats earnings estimates 85% of the time, according to Bespoke Investment Group. What CNBC is watching: Bank of America shares have struggled lately, losing 5.6% this month as investors reprice rate cut expectations. Morgan Stanley is set to report earnings before the open. United Airlines is set to report earnings after the close. Thursday Netflix is set to report earnings after the close.
Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Goldman, Devin Ryan, Morgan, Ryan, UNH, UnitedHealth, LSEG, UAL, Leslie Josephs, Oppenheimer, Jason Helfstein, Procter & Gamble, Dara Mohsenian, Procter Organizations: Bank of America, Netflix, JPMorgan, CNBC, JMP Securities, Investment, Tuesday Bank of America, UBS, BofA, Dow Jones Industrial, Street, United Airlines, Boeing, Max, Federal Aviation Administration, San Francisco, United, Procter & Locations: Charlotte, San, U.S, China
CNN —About 576,000 Roku accounts were compromised in a cyberattack, the company said on Friday, the second security breach for the streaming service this year. The security breach was discovered while Roku monitored account activity after a cyberattack affected 15,000 accounts earlier this year. Credentials used to access Roku accounts were likely from a data breach on a different site, the company said in a statement. User passwords have been automatically reset, and users affected by the security breach will be contacted by Roku, the company said in a statement. Your account security is a top priority, and we are committed to protecting your Roku account,” the company said in a statement.
Persons: Roku, fraudsters, there’s, Organizations: CNN
UnitedHealth Group struck a deal in March to buy the nine-state doctor group of the struggling hospital system Steward Health Care. AdvertisementDoctors are hot commoditiesIt's tough to lump the many buyers of medical practices together, as they're pursuing different strategies. Insurers like UnitedHealthcare and CVS' Aetna are required by federal law to spend most of the money they collect in premiums on medical care. Plus, running a modern medical practice is expensive, requiring investments in staffing, technology, and electronic health records. Advertisement"The corporate practice of medicine is the reason why healthcare costs are out of control," Li said.
Persons: , UnitedHealth's Optum, That's, UnitedHealth, there's, They're, Farzad Mostashari, UnitedHealth's chokehold, Chas Roades, Yashaswini Singh, Singh, Roades, Nick Jones, they're, Optum, Jones, Mitch Li, Li, Michelle Cooke, Cooke, she's, Ben Bowman, Bowman Organizations: Service, UnitedHealth, Health Care, CVS Health, Walgreens, Physicians, Research, US Justice Department, CVS, Aetna, Brown University, Harvard Medical School, Oregon Medical Group, JAMA, Amazon, The Washington Post, Federal Trade Commission, US Department of Justice, Department of Health, Human Services, Oregon State, Corvallis Clinic Locations: Oregon, New York, UnitedHealth, Optum, California, The, Atlanta
The Summer Olympics and tensions over the war in Ukraine are likely to make Paris a tempting target for a variety of hacking attempts, including from adversarial countries, France’s top cybersecurity official said on Monday. French officials, including Mr. Strubel, are in Washington this week for consultations with cybersecurity officials. The Paris Olympics will run from July 26 to Aug. 11. The opening ceremony of the 2018 Olympics in Pyeongchang, South Korea, was marred by a cyberattack that caused internet disruptions. Security companies quickly blamed Russia, and the Fancy Bear hacking group tied to Moscow’s intelligence services, for that attack.
Persons: Vincent Strubel, France’s, ransomware, Strubel Locations: Ukraine, Washington, Pyeongchang, South Korea, Russia
Microsoft's security systems are inadequate and need an "overhaul," a government report found. Security flaws in Microsoft's systems let Chinese hackers breach the company's networks last summer, DHS found. Microsoft needs to seriously improve its systems for the sake of national security, the report says. AdvertisementMicrosoft's security culture needs work, a government-backed cybersecurity board says in a new report. In it, the board details a "cascade" of "avoidable errors" in Microsoft's security systems.
Persons: , Gina Raimondo, Nicholas Burns, Don Bacon Organizations: DHS, Microsoft, Service, US Department of Homeland Security, Storm, United, Business Locations: China, United States, People's Republic of China
Did One Guy Just Stop a Huge Cyberattack?
  + stars: | 2024-04-03 | by ( Kevin Roose | ) www.nytimes.com   time to read: +1 min
The internet, as anyone who works deep in its trenches will tell you, is not a smooth, well-oiled machine. It’s a messy patchwork that has been assembled over decades, and is held together with the digital equivalent of Scotch tape and bubble gum. Last week, one of those programmers may have saved the internet from huge trouble. Recently, while doing some routine maintenance, Mr. Freund inadvertently found a backdoor hidden in a piece of software that is part of the Linux operating system. The backdoor was a possible prelude to a major cyberattack that experts say could have caused enormous damage, if it had succeeded.
Persons: Andres Freund, He’s, Freund Organizations: Microsoft, Linux Locations: San Francisco
Shares of U.S. health insurers fell Tuesday after the Biden administration didn't boost payments for private Medicare plans as much as the insurance industry and investors had hoped. Shares of CVS Health fell more than 8% on Tuesday, while UnitedHealth Group 's stock slid nearly 7%. Shares of Elevance Health dropped more than 3% and Centene 's stock fell 6%. Meanwhile, Humana 's stock fell more than 10%. The health-care giant is far more dependent on those private Medicare plans, known as Medicare Advantage, than its rivals.
Persons: Biden, Humana Organizations: Humana Inc, CVS Health, Elevance Health Locations: Louisville , Kentucky, U.S
AT&T announced Saturday that it is investigating a two-week-old data breach that published millions of customers' data on the dark web, a portion of the internet that can only be accessed using special software. AT&T's preliminary review found that the leaked data was from approximately 2019 or earlier and includes personal information such as names, home addresses, phone numbers, dates of birth and Social Security numbers. The data set does not contain personal financial information or call history. In February, AT&T customers experienced an hours-long cellular outage, which the company clarified resulted from a system issue, not a cyberattack. The company's CEO, John Stankey, later apologized for that incident and provided customer credits to those impacted.
Persons: John Stankey Organizations: Social
The recent cyberattack on the billing and payment colossus Change Healthcare revealed just how serious the vulnerabilities are throughout the U.S. health care system, and alerted industry leaders and policymakers to the urgent need for better digital security. Hospitals, health insurers, physician clinics and others in the industry have increasingly been the targets of significant hacks, culminating in the assault on Change, a unit of the giant UnitedHealth Group, on Feb. 21. The ransomware attack on the nation’s largest clearinghouse, which handles a third of all patient records, had widespread effects. Fixes and workarounds have alleviated some distress, but providers are still unable to collect billions of dollars in payments. Even now, very little information about the exact nature and scope of the attack has been disclosed.
Persons: UnitedHealth Organizations: Healthcare, UnitedHealth Locations: U.S
It is entirely possibly that millions of Americans encountered false claims about the bridge collapse when they woke up Tuesday morning before ever seeing the facts. Politics is everythingWhat is perhaps most notable about how quickly and widely conspiracy theories about a breaking news story spread is just how normal this all is right now. Jewish space lasersAs news unfolded on Tuesday, the conspiracy theories continued. Greene has not weighed in on the cause of the bridge collapse. Jewish space lasers were not responsible for the wildfires, nor the Baltimore bridge collapse.
Persons: Francis Scott Key, Israel, , Ben Decker, Andrew Tate, Tate, Tate’s, Elon Musk, meekly, Sandy Hook, Alex Jones, , ” Jones, Jones, Baltimore’s, Baltimore Mayor Brandon Scott, it’s, Biden, Taylor Swift, Joe Biden, Trump, X, David Simon, Simon, , Marjorie Taylor Greene, Greene Organizations: CNN, Facebook, Maryland State Police, Coast Guard, Baltimore Mayor, Equity, FBI, Republicans, Netflix, HBO, Georgia Republican Locations: Baltimore, Covid, USA, Romania, United Kingdom, Florida, Texas, California, Georgia
UnitedHealth Group has paid out an additional $1 billion to providers that have been impacted by the Change Healthcare cyberattack since last week, bringing the total amount of funds advanced to more than $3.3 billion, the company said on Wednesday. UnitedHealth, which owns Change Healthcare, discovered in February that a cyber threat actor had breached part of the unit's information technology network. The interruptions left many health-care providers temporarily unable to fill prescriptions or get reimbursed for their services by insurers. Many health-care providers rely on reimbursement cash flow to operate, so the fallout has been substantial. Federal agencies like the Centers for Medicare & Medicaid Services have introduced additional options to ensure that states and other stakeholders can make interim payments to providers, according to a release.
Persons: UnitedHealth, it's, Mandiant, Jamie Raskin, Andrew, Raskin, Biden Organizations: UnitedHealth, Healthcare, SEC, CNBC, American Hospital Association, Medicare, Medicaid Services, U.S . Department of Justice, of State, Wednesday, United Health, Palo Alto Networks, Change Healthcare Locations: Palo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Javers Files: Microsoft's ongoing cyberattack and Chinese disinformation threatens corporate AmericaCNBC's Senior Washington Correspondent Eamon Javers appeared on Power Lunch, March 8, 2024, to report the latest news on Microsoft's ongoing cyberattack and how Chinese disinformation is threatening corporate America.
Persons: Eamon Javers Organizations: America CNBC's Senior Washington Locations: America
That's what Nvidia needed semiconductor design firm Synopsys to do to make this next generation of chips. Right now, Nvidia has had not one, but two different breakthroughs: Accelerated computing at a ridiculously fast speed and generative artificial intelligence. I think Jensen regards Dell as a crucial partner when it comes to installing Nvidia's systems anywhere. Do I think Nvidia would like to do more business with Apple? I think Nvidia would like to do more business with everyone, including alleged opponent Intel .
Persons: Abraham Lincoln, David Herbert Donald, Jensen, It's, Jensen Huang, Lincoln, Leonardo da Vinci, da Vinci, he's, Blackwell, Grace Hooper Superchip, , Moby Dick –, that's, they've, Adam Selipsky, Jensen laughingly, Claude, Anthropic, Dell, Michael Dell, Jensen's, it's, dink, I'm, Johnson, J, Abbott, Reckitt Benckiser, we've, CrowdStrike, ServiceNow, Bill McDermott, Tesla, Elon Musk, Lora Kolodny, That's, Frank Slootman, Ansys, Synopsys, isn't, Sundar Pichai, Satya Nadella, Larry Ellison, Nvidia's Blackwell, Mark Zuckerberg, Jim, Tim Cook, Cook, Apple, Jim Cramer's, Jim Cramer, Josh Edelson Organizations: Lincoln, GTC, Nvidia, GTC –, CNBC, Amazon, Microsoft, Google, Dell Technologies, Club, Dell, Siemens, Rockwell Automation, Cadence Design Systems, Nvidia's, Johnson, Abbott Laboratories, GE Healthcare, cybersecurity, Palo Alto, Palo, Snowflake, AMD, Autodesk, Cadence, Computer, Oracle, Apple, Justice Department, Intel, Vision, Jim Cramer's Charitable, SAP Center, AFP, Getty Locations: U.S, Silicon Valley, Lincoln, Here's, Palo Alto, Pittsburgh, Switzerland, San Jose , California
Customers of an Ethiopian bank found they could withdraw unlimited cash for a few hours last weekend. More than $40 million was withdrawn or transferred from CBE, local media reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA technical glitch let customers of an Ethiopian bank take out or transfer more money they had in their accounts.
Persons: Organizations: Service, Commercial Bank of Ethiopia, Business
NAIROBI, Kenya (AP) — Ethiopia’s biggest bank is reportedly attempting to recover more than $40 million after a technical glitch allowed customers to withdraw more than they had in their accounts. Long lines formed at cash machines across Ethiopia after the problem was discovered at the Commercial Bank of Ethiopia, local media reported. The bank has not said how much was withdrawn, but Abe told reporters that half a million transactions were made during the glitch. Photos You Should See View All 60 ImagesEstablished in 1963, the Commercial Bank of Ethiopia is the country’s largest bank with 40 million customers. The bank will not press charges against students who took out cash that did not belong to them, Abe said.
Persons: , Abe Sano, Abe Organizations: Commercial Bank of, birr Locations: NAIROBI, Kenya, Ethiopia, Commercial Bank of Ethiopia, Ethiopia’s
UnitedHealth Group said Monday that it's paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare. "We continue to make significant progress in restoring the services impacted by this cyberattack," UnitedHealth CEO Andrew Witty said in a press release. "We know this has been an enormous challenge for health care providers and we encourage any in need to contact us." It also introduced a temporary funding assistance program to help health-care providers experiencing cash flow trouble because of the attack. A survey published by the American Hospital Association on Friday found that 94% of hospitals have experienced financial disruptions from the Change Healthcare attack.
Persons: it's, Andrew, UnitedHealth, Rick Pollack, Biden, UnitedHealth hasn't, Scott Gottlieb Organizations: UnitedHealth, Change Healthcare, Healthcare, Medicare, Medicaid Services, American Hospital Association, Administration, U.S . Department of Health, Human Services, Office, Civil Rights, Palo Alto Networks, Google Locations: Palo
UnitedHealth is testing the last major system it must restore from last month’s Change Healthcare cyberattack, but it has no date yet for finishing the recovery. The health care giant said Monday that it is testing software for submitting medical claims. Photos You Should See View All 60 ImagesEarlier this month, UnitedHealth said that it restored nearly all of Change Healthcare’s system for processing prescriptions. Late last week, the company restored Change Healthcare’s electronic payments platform, which involves billing and payments between care providers and payers like insurers. UnitedHealth said Monday that it is expanding temporary funding to support doctors and other care providers affected by the attack.
Persons: UnitedHealth Organizations: Healthcare, American Hospital Association, Federal, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP
Change Healthcare says it handles one in every three patient records in the US. Change Healthcare restored its electronic payments platform on March 15 and “is proceeding with payer implementations,” UnitedHealthGroup said in a statement on Monday. “Billions of dollars” stopped flowing to health care providers because of the hack, according to AHA, which represents thousands of hospitals across the country. The unprecedented pressure on a hacked US health care firm won’t go away with the restoration of billing services. HHS has opened an investigation into whether Change Healthcare has complied with federal law to protect patient data.
Persons: , ” UnitedHealthGroup, won’t Organizations: CNN, Biden, American Hospital Association, Healthcare, AHA, White House, Department of Health, Human Services, HHS Locations: United States, Colorado, Oregon
Russia's governing party United Russia said on Saturday that it was facing a widespread denial of service attack — a form of cyberattack that snarls internet use — against its online presence, and had suspended non-essential services to repel the attack. Russian President Vladimir Putin, who is running in Russia's presidential election as an independent candidate with United Russia's support, has accused Ukraine of seeking to sabotage the polls, which he is virtually certain to win.
Persons: Vladimir Putin Organizations: United Locations: United Russia, Russian, Ukraine
The ransomware attack on UnitedHealth's Change Healthcare subsidiary last month not only brought to light how attractive the data-rich U.S. health-care industry is to hackers and how devastating the consequences for patients and doctors, but also how sophisticated cyber criminals are becoming when targeting vulnerable sectors. Change Healthcare is the largest clearinghouse for insurance billing and payments in the U.S. Since the February 21 attack, the thousands of doctors, hospitals and other health providers that depend on Change Healthcare for billing reimbursements have not been paid as the company works to bring its systems back online. UnitedHealth told CNBC in a statement that it will cooperate with the investigation from the OCR. "Our immediate focus is to restore our systems, protect data and support those whose data may have been impacted," the company said.
Persons: UnitedHealth, Sumedh Thakar, Qualys, it's Organizations: Change Healthcare, U.S . Department of Health, Human Services, HHS, Civil Rights, CNBC Locations: U.S
The OCR enforces the Health Insurance Portability and Accountability Act's security, privacy and breach notification rules, which most health plans, providers and clearinghouses such as Change Healthcare are required to follow to protect health information. "OCR's investigation of Change Healthcare and UHG will focus on whether a breach of protected health information occurred and Change Healthcare's and UHG's compliance with the HIPAA Rules," the department said. Change Healthcare offers electronic prescription software and tools for payment and revenue cycle management. Parent company UnitedHealth discovered that a cyber threat actor breached part of the unit's information technology network on Feb. 21, according to a filing with the U.S. Securities and Exchange Commission. In late February, Change Healthcare said that ransomware group Blackcat was behind the attack.
Persons: UnitedHealth, Blackcat Organizations: U.S . Department of Health, Human Services, UnitedHealth Group, Healthcare, U.S, HHS, Civil Rights, Change Healthcare, U.S . Securities, Exchange Commission, CNBC, SEC, Department of Justice
There was no breach of government networks or data stolen in the cyberattack, according to the office of Republican Gov. “We’ve seen waves of attacks against numerous targets, including the State of Alabama,” Richard Hummel, senior threat intelligence manager at cybersecurity firm Netscout, told CNN. The attacks against Alabama government websites typically lasted five to 10 minutes, Hummel said. More than 2,200 US hospitals, schools and governments were “directly impacted” by ransomware last year, according to a tally from cybersecurity firm Emsisoft. DDoS attacks can also cause disruptions to the local communities that rely on school, hospital and election websites for information, Hummel said.
Persons: , Jeremy Ward, Kay Ivey, Sergeant LaQuitta Wade, Gerald Auger, ” Auger, “ You’re, , ” Richard Hummel, Netscout, Hummel, ransomware Organizations: Washington, Atlanta CNN, Alabama’s, Information Technology, CNN, Republican Gov, Public, Birmingham Police Department, Public Information, Coastal Information Security, Agency, State of, Alabama Locations: Atlanta, Birmingham, City, Alabama, Sudan, , State of Alabama
It's been three weeks since a cyberattack on an under-the-radar but critical technology company caused the payments that flow between healthcare providers and insurers to grind to a halt nationwide. The US healthcare system has been crippled by the cyberattack on Change Healthcare, the company owned by UnitedHealth Group that connects healthcare providers and pharmacies to insurers and facilitates 15 billion transactions each year. And some patients can't afford their prescriptions because pharmacies can't process drug coupons. For many healthcare providers, UnitedHealth and the federal government's response to the ongoing crisis has fallen short. Industry groups including the American Hospital Association and American Medical Association urged the federal government to provide emergency financial support to healthcare providers.
Persons: It's, Sarah von Colditz, Von Colditz, she's, von Colditz, greenlit, UnitedHealth, it's, Kate Ecke, wasn't, Ecke, I've, Optum, Keely Helmick, CareOregon, She's, Helmick, I'm, Brittany Goff, she'd, hasn't, Goff, we're, they've, Tiffany Kettermann, Kettermann Organizations: Business, Healthcare, UnitedHealth Group, US Justice Department, American Hospital Association, American Medical Association, US Health, Human Services Department, Unconventional, HHS, Zen Psychological, Health Allies, Covid Locations: Astoria , Oregon, New Jersey, Portland , Oregon, Maryland, Shoreline
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