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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo: CrowdStrike's growth will reaccelerate next year once they mitigate customer churnAndrew Nowinski from Wells Fargo breaks down Crowdstrike's Q2 earnings and discusses its growth trajectory in the coming year.
Persons: reaccelerate, Andrew Nowinski Organizations: Wells Locations: Wells
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSentinelOne CEO on CrowdStrike outage: We will never deploy a fleet-wide updateTomer Weingarten, SentinelOne CEO, joins 'Money Movers' to discuss the company's quarterly earnings results, if CrowdStrike's outage could've happened to anyone, and customer appetite to spend on cybersecurity.
Persons: Weingarten Organizations: SentinelOne
CrowdStrike's president just accepted an award for 'Most Epic Fail' after a mass IT outage. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCrowdStrike's president himself just collected an award for the "Most Epic Fail' following the company's mass IT outage. The cybersecurity firm's president Michael Sentonas said he wanted to receive the award in person, because the company wants to own its mistake.
Persons: , Michael Sentonas, Sentonas Organizations: Microsoft, Service, Business
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrowdStrike responds to Delta accusations, calls narrative 'misleading'CNBC's Kate Rooney joins 'Fast Money' to talk CrowdStrike's response to Delta's accusations over outage.
Persons: CrowdStrike, Kate Rooney
Mark Cheffo, a Dechert partner representing Microsoft, sent a letter Tuesday to attorney David Boies of Boies Schiller Flexner. Boies represents Delta and had sent letters on behalf of the airline to CrowdStrike and Microsoft. Cheffo wrote in his response that Microsoft empathizes with Delta and its customers on the impact of the CrowdStrike incident. Cheffo wrote that Microsoft offered to help Delta for free. Cheffo described a letter on July 22, from Microsoft to a Delta employee, offering help.
Persons: Ed Bastian, CNBC's, Mark Cheffo, David Boies, Boies Schiller, Boies, Hossein Nowbar, Cheffo, Delta, Satya Nadella, Bastian, CrowdStrike, George Kurtz Organizations: Microsoft, Delta Air Lines, Delta, IBM, Web Services Locations: Boies, Delta, Atlanta
Travelers wait to board their delayed flight at the Hartsfield-Jackson Atlanta International Airport on July 23, 2024 in Atlanta, Georgia. CrowdStrike 's legal troubles from last month's massive global computer outage deepened on Monday, as the cybersecurity company was sued by air travelers whose flights were delayed or canceled. CrowdStrike said in a statement: "We believe this case lacks merit and we will vigorously defend the company." Delta faces a U.S. Department of Transportation probe into why it needed more time than rivals to recover from the outage. Monday's case is del Rio et al v CrowdStrike Inc, U.S. District Court, Western District of Texas, No.
Persons: CrowdStrike Organizations: Hartsfield, Jackson Atlanta International Airport, Southwest Airlines, Delta Air Lines, Austin, U.S . Department of Transportation, CrowdStrike Inc, Western District of Locations: Atlanta , Georgia, Austin , Texas, Atlanta, Rio et, Western District, Western District of Texas
Travelers wait in line, as a flight board shows delays, on the check-in floor of the Delta Air Lines terminal at Los Angeles International Airport (LAX) on July 23, 2024 in Los Angeles, California. CrowdStrike on Sunday said Delta Air Lines had rejected onsite help during last month's massive outage that sparked thousands of flight cancellations. Delta CEO Ed Bastian told CNBC's "Squawk Box" last week that the mass cancellations following the outage, which occurred at one of the busiest times of the year, cost the company about $500 million, including customer compensation. In response, Michael Carlinsky, CrowdStrike lawyer and co-managing partner at Quinn Emanuel Urquhart & Sullivan wrote to Delta's lawyer David Boies on Sunday that Delta's litigation threats "contributed to a misleading narrative that CrowdStrike is responsible for Delta's IT decisions and response to the outage." He said CrowdStrike's CEO George Kurtz reached out to Bastian to "offer onsite assistance, but received no response."
Persons: CrowdStrike, Ed Bastian, CNBC's, Bastian, Boies Schiller, Michael Carlinsky, Quinn Emanuel Urquhart, Sullivan, David Boies, George Kurtz Organizations: Delta Air Lines, Los Angeles International Airport, Microsoft Locations: Los Angeles , California
Finance, health care and other regulated industries should consider their specific needs and tailor their defenses with military-grade components, he added. The implementation of military-grade cybersecurity is not without challenges. In 2024, regulated industries have witnessed a significant increase in both the number and cost of data breaches. Frederic Rivain, chief technology officer of Dashlane, holds a contrarian view on the need for military-grade defenses. "Multifactor authentication is important, and you must have it, but you still need to have multiple layers," Two Bears said.
Persons: CrowdStrike, Javad Abed, Abed, shouldn't, Cole, Didi, National Intelligence Avril Haines, Gen, Gary Orenstein, Orenstein, doesn't, Frederic Rivain, Rivain Organizations: Johns Hopkins Carey Business School, Delta Air Lines, Finance, IBM, Ponemon Institute, Bears, Amazon, Data, Verizon, National Intelligence, Employees Locations: ThinkGard, U.S, China, America
CrowdStrike is sued by shareholders over huge software outage
  + stars: | 2024-07-31 | by ( ) www.cnbc.com   time to read: +2 min
CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. The complaint cites statements including from a March 5 conference call where Kurtz characterized CrowdStrike's software as "validated, tested and certified." Delta Chief Executive Ed Bastian told CNBC on Wednesday that the outage cost his airline $500 million, including lost revenue and compensation and hotels for stranded fliers. CrowdStrike shares closed on Wednesday down $1.69 at $231.96. The case is Plymouth County Retirement Association v CrowdStrike Inc et al, U.S. District Court, Western District of Texas, No.
Persons: George Kurtz, CrowdStrike, David Boies, Kurtz, " Kurtz, Burt Podbere, Ed Bastian Organizations: Crowdstrike Holdings Inc, Bloomberg Technology, RSA Conference, U.S . Congress, Delta Air Line, Retirement Association of, Delta, CNBC, Retirement, Western District of Locations: San Francisco , California, Austin , Texas, Austin, Plymouth, Retirement Association of Plymouth , Massachusetts, U.S, Western District, Western District of Texas
Read previewDelta Air Lines is gearing up to demand money following an outage that sent the world, including the airline, into chaos. The carrier hired star attorney David Boies to seek damages from CrowdStrike and Microsoft for the July 19 computer outage that forced Delta to cancel about 6,000 flights, CNBC reported on Monday. AdvertisementWhile no lawsuit has been filed, Delta plans to seek compensation from CrowdStrike and Microsoft, CNBC reported. AdvertisementEven individuals hoping to seek damages from CrowdStrike through proposed class action lawsuits may have little luck. Between customer agreements that favor CrowdStrike and SolarWinds largely beating the SEC, CrowdStrike stands a good chance in court, Sanchez said.
Persons: , David Boies, Delta, Boies, Elizabeth Holmes, Al Gore, Boies Schiller, CrowdStrike, Elizabeth Burgin Waller, Woods Rogers, Mauricio Sanchez, Sanchez, SolarWinds, Andrew Selbst, Selbst Organizations: Service, Lines, Microsoft, CNBC, Business, Delta, Analysts, Bloomberg, CrowdStrike's Falcon, Dell'Oro, Fierce, Securities and Exchange, SEC, UCLA School of Law, Harvard Law, Federal Trade Commission, FTC Locations: CrowdStrike, Delta, Texas
The stock fell as much as 13% on Tuesday alone after heavily-hit Delta reportedly hired a lawyer. No suit has been filed, but Delta plans to seek compensation from CrowdStrike, CNBC said. The continued fallout comes after CNBC reported that Delta hired attorney David Boies — chairman of Boies Schiller Flexner — to seek compensation for outage-related damages, according to CNBC. AdvertisementDelta's earnings will drop an estimated $350 million to $500 million this quarter as a result of the outage, according to Bloomberg. Following the Friday outage, Delta still canceled hundreds of flights on Tuesday, by when most other airlines had resumed normal operations.
Persons: , David Boies —, Boies Schiller, Boies, Elizabeth Holmes, Al Gore, Harvey Weinstein Organizations: Delta, CNBC, Service, Hollywood, Microsoft, Bloomberg, United Locations: CrowdStrike, Delta, FlightAware
Analyst Alex Henderson reiterated his buy rating for the cybersecurity firm but lowered his price target to $375 from $425. JPMorgan analyst Kenneth Worthington attributed a higher assumption for total crypto market cap as one reason for his price target raise. "We see the cryptoecosystem in the midst of a material participation rally, benefitting Coinbase revenue generation near term," the analyst wrote. Analyst Eric Joseph's December 2025 price target of $8 implies a 51% decline ahead for the stock. He also maintained his $725 price target, which implies upside of 15.6% from Monday's close.
Persons: Oppenheimer, Needham, Alex Henderson, CrowdStrike, Henderson, Lisa Kailai Han, Keefe, Bruyette, Meyer Shields, Shields, — Lisa Kailai Han, Kenneth Worthington, JPMorgan downgrades, Eric Joseph's, Joseph, Chipmaker, Simon Coles, Coles, Jason Helfstein, NFLX, Fred Imbert Organizations: CNBC, Barclays, Netflix, Security, Aon, JPMorgan, Sanofi Locations: Woods, Coinbase, China, Monday's
The worst is over for CrowdStrike shareholders after steep losses tied to the major global IT outage caused by the company, CNBC's Jim Cramer predicted Monday. "I think it's the bottom" in CrowdStrike's stock price, Cramer said Monday on "Squawk on the Street," shortly before the opening bell. Shares of CrowdStrike were higher in the premarket and added more than 3% in early regular trading. CRWD mountain 2024-07-18 CrowdStrike since close July 18, day before global IT outage The declines "were not an overreaction because [the IT outage] was really bad," Cramer said. Some Wall Street analysts also have recently come to CrowdStrike's defense, Cramer pointed out.
Persons: CNBC's Jim Cramer, Cramer, George Kurtz, Morgan Stanley Organizations: CNBC, Club, Palo Alto Networks, Microsoft, Analysts Locations: CrowdStrike
Here are Thursday's biggest calls on Wall Street: Bank of America reiterates IBM as buy Bank of America said the "portfolio is delivering" despite the company's mixed earnings report on Wednesday. Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's sticking with Ford as a top pick following earnings on Wednesday. Bank of America reiterates CrowdStrike as buy Bank of America lowered its price target to $365 per share from $400 but said it's sticking with the stock. Barclays reiterates Super Micro Computer as overweight Barclays said it's sticking with its overweight rating heading into earnings in early August. " Bank of America reiterates Birkenstock as buy Bank of America said the stock "warrants a higher multiple."
Persons: Mizuho, ServiceNow, Morgan Stanley, Ford, KeyBanc, Baird, AAPL, Price, LULU, Goldman Sachs, Dell, Goldman, Roper, CBRE, it's, CrowdStrike, Susquehanna, Bank of America downgrades Lamb Weston, Lamb Weston, Chipotle, Piper Sandler, Marvell, Piper, Birkenstock Organizations: Bank of America, IBM, Infrastructure, Consulting, Mizuho, Software, Ford, Apple, BMO, Citi, Dell, DELL, Roper Technologies, " Bank of America, Meta, AMD, SOX, JPMorgan, GE, Deutsche Bank, Deutsche, Barclays, AMC, Sirius XM, Davidson, Polaris
He believed Kurtz deserves credit for quickly engaging the media on Friday, apologizing, and promising solutions — even if social media users say the apology didn't come fast enough. The steps to take in a crisisGood crisis management can be boiled down to a few simple yet crucial steps, the two experts told BI. But as disruption from the CrowdStrike outage slowly lessens, many are still concerned by the in-built potential of technology-reliant systems crashing, bringing down all operations with them. Griffin said his company, which provides crisis management software, is now reviewing its plans and policies to prevent the kind of tech failure CrowdStrike experienced. "The bottom line is that crisis management is not a check the box; it is an evolution and requires continuous training, exercising, and learning to improve, especially as the nature of threats and types of incidents evolve."
Persons: , CrowdStrike, George Kurtz, Kurtz, Getty, Shawn Henry —, Sean Griffin, Griffin, Peer, it's Organizations: Service, Microsoft, Business, Windows, Madrid, Barajas, Europa Press, Disaster Tech
Southwest CEO Bob Jordan: Not happy with our results in Q2
  + stars: | 2024-07-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouthwest CEO Bob Jordan: Not happy with our results in Q2CNBC’s Phil LeBeau and Southwest CEO Bob Jordan join 'Squawk on the Street' to discuss the airline's quarterly earnings results, the company's decision to end open seating, FAA's safety audit into the airline, impact of CrowdStrike's IT outage, and more.
Persons: Bob Jordan, Phil LeBeau Organizations: Southwest
Cramer's Lightning Round: Dell is a buy
  + stars: | 2024-07-25 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Dell's year-to-date stock performance. Dell : "[buy, buy, buy!] Stock Chart Icon Stock chart icon Five Below's year-to-date stock performance. Stock Chart Icon Stock chart icon Toyota's year-to-date stock performance. Stock Chart Icon Stock chart icon CrowdStrike's year-to-date stock performance.
Persons: They've, Kurtz, I'm, Jim Cramer's Organizations: Dell, Toyota, Networks Locations: Alto
But this was not a Microsoft issue. Tom ChittyWe're going to talk more about who CrowdStrike are, I think, you know, some people would probably never have heard of CrowdStrike. Lots and lots and lots of global businesses rely on CrowdStrike for their security. I had first seen that and thought it was a Microsoft issue, the reason why Windows crashed on my PC. It was a CrowdStrike issue.
Persons: Tom Chitty, We'll, I've, Arjun Kharpal, you've, Tom Chitty We're, let's, Arjun Kharpal CrowdStrike, George Kurtz, Kharpal, CrowdStrike, they're, it's, they've, Tom Chitty Well, what's, Arjun Kharpal We'd, Iyou, It's, who've, there's, Ciaran Martin, Patrick Anderson, Arjun, Tom, Tom Chitty We'll Organizations: Microsoft, Industries, CNBC, Netflix, NBC, Sky News, Tom Chitty Airlines, Civil Aviation, CrowdStrike, U.S, Board, U.S . Homeland Security Department, Google, National Cybersecurity Center, Anderson Economic Group, CNN Locations: U.S, beyondthevalley@cnbc.com, CNBC's London, London, Europe, China, Russia, Arjun Kharpal China, Moscow, what's, Michigan
A CrowdStrike software update that crashed computers globally last week hitting services from aviation to banking and healthcare was caused by a bug in the U.S. cybersecurity firm's quality control mechanism, the company said on Wednesday. "Due to a bug in the Content Validator, one of the two Template Instances passed validation despite containing problematic content data," CrowdStrike said in a statement, referring to the failure of an internal quality control mechanism that allowed the problematic data to slip through the company's own safety checks. CrowdStrike did not say what that content data was, nor why it was problematic. CrowdStrike said it had added a "new check" to its quality control process in a bid to prevent the issue from occurring again. Wednesday's statement was in line with a widely held assessment from cybersecurity experts that something in CrowdStrike's quality control process had gone badly wrong.
Persons: CrowdStrike, George Kurtz Organizations: Rome Fiumicino, Microsoft, U.S . House, Representatives Homeland Locations: Rome, Italy, U.S
The issue on Friday involved a Rapid Response Content update with an undetected error. Rapid Response Content Testing and DeploymentRapid Response Content is delivered as content configuration updates to the Falcon sensor. This release followed all Sensor Content testing procedures outlined above in the Sensor Content section. Software Resiliency and TestingImprove Rapid Response Content testing by using testing types such as: Local developer testing Content update and rollback testing Stress testing, fuzzing and fault injection Stability testing Content interface testingAdd additional validation checks to the Content Validator for Rapid Response Content. Rapid Response Content DeploymentImplement a staggered deployment strategy for Rapid Response Content in which updates are gradually deployed to larger portions of the sensor base, starting with a canary deployment.
Persons: , CrowdStrike Organizations: Delta Air Lines, Windows, Linux, IPC
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOther cybersecurity plays will benefit from CrowdStrike's 'black eye moment', says Wedbush's Dan IvesPaul Hickey, Bespoke Investment Group co-founder, and Dan Ives, Wedbush managing director, join 'Closing Bell Overtime' to talk today's packed slate of earnings including Seaport, Google, Tesla and more.
Persons: Wedbush's Dan Ives Paul Hickey, Dan Ives, Wedbush Organizations: Investment Group, Google
Its price target implies more than 30% upside. Analyst Stephen Bersey also slashed his price target for the stock to $302 from $388. The financial firm reiterated its overweight on the technology titan and Magnificent Seven member and increased its price target to $485 from $465. The bank upgraded shares of the doughnut maker to buy from hold, while standing by its target price of $14. The bank upgraded the shoe company to overweight from equal weight and raised its price target to $80 from $60.
Persons: CrowdStrike, Morgan Stanley, Stephen Bersey, Bersey, Lisa Kailai Han, Piper Sandler, Brent Bracelin, Bracelin, — Lisa Kailai Han, Peter Christiansen, Christiansen, Sorabh Daga, McDonald's, Daga, Fred Imbert Organizations: CNBC, HSBC, HSBC downgrades CrowdStrike, Guggenheim, Microsoft, Microsoft Cloud, Citi Locations: CrowdStrike, U.S, Monday's
This story is available exclusively to Business Insider subscribers. The best Delta customers can hope for is a refund. AdvertisementCompensation policies for cancellations and delays are in the fine print of contracts between airlines and customers buying tickets. For airline customers in the US, Green recommended keeping receipts for tickets, cabs to connecting flights, and other expenses that Delta may reimburse for rebooked flights. Ordinary airline customers, he said, ought to consult their travel insurance policies.
Persons: , They're, Pete Buttigieg, Mary Schiavo, Schiavo, Motley Rice, Justin T, Green, Mark Dombroff, Fox Rothschild, CrowdStrike, Buttigieg, Delta Organizations: Service, Business, Federal Aviation Administration, US Department of Transportation, Transportation, Falcon, Microsoft, Department of, Airlines, Kreindler LLP, Fox, of Transportation's, of Aviation, Protection, Delta Locations: FlightAware, Federal, Europe, Delta
Cathie Wood is making a bet on the embattled cybersecurity firm CrowdStrike. CrowdStrike's faulty update for Windows computers caused a massive global tech outage on Friday. But that hasn't stopped Wood from buying nearly $12 million of CrowdStrike stock. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCrowdStrike came under fire after an update triggered last week's massive global tech outage, but Ark Invest's Cathie Wood seems to have identified an investment opportunity amidst the mayhem.
Persons: Cathie Wood, hasn't, Wood, , CrowdStrike Organizations: Service, Business
Apple got a price target increase from Wells Fargo. As catalysts, Boss cited broad-based demand for Abercrombie, growth upside for Hollister and a ramp-up in Abercrombie's international brand momentum. Analyst James Faucette also lifted his price target to $175 from $154. Fidelity National Information Services stock closed at $75.25 on Friday afternoon, slightly below analyst James Faucette's $79 price target. — Lisa Kailai Han 5:51 a.m.: Wells Fargo raises Apple price target Wells Fargo is getting more bullish on Apple ahead of earnings.
Persons: Apple, Guggenheim, Fitch, Matthew Boss, Abercrombie, Boss, — Lisa Kailai Han, Morgan Stanley, James Faucette, Clover, Faucette, Raymond James, Estee Lauder, Olivia Tong, Tong, James Faucette's, Piper Sandler, Harsh Kumar, Kumar, NVDA, CrowdStrike, John DiFucci, DiFucci, Wells, Aaron Rakers, Fred Imbert Organizations: CNBC, Tech, Apple, JPMorgan, Abercrombie, Abercrombie & Fitch, Fitch, Fidelity National Information Services, Blackwell, Nvidia, Guggenheim, Apple Intelligence Locations: Wells Fargo, CrowdStrike, Hollister, Fiserv, U.S, China, CSPs
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