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☆ Malo Santo CEO: Cybersecurity will be crucial in all earnings reports after 'CrowdStrike's failure'
▼ + stars: | 2024-07-22 | 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 EmailMalo Santo CEO: Cybersecurity will be crucial in all earnings reports after 'CrowdStrike's failure'Malo Santo CEO X. Eyee joins 'Power Lunch' to discuss tech, CrowdStrike's IT outage, and sector outlooks.

Persons: Cybersecurity, Eyee Organizations: Malo, Malo Santo

☆ Here's why China was largely unaffected by Friday's IT outage
▼ + stars: | 2024-07-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"The main reason why is that local Chinese companies basically do not use CrowdStrike products, so they are not affected," Gao said. Chinese state media also said Friday evening that international flights at Beijing's two airports were running normally, and that Air China , China Eastern Airlines and China Southern Airlines had not been affected by large-scale technical system failures. Microsoft products are widely used in China — Windows had about 87% of personal computer shipments in the mainland last year, according to Canalys. Microsoft products Office 365 and Azure cloud are operated in China by a local company called 21Vianet . Why don't Chinese companies use CrowdStrike?

Persons: Pempel, Gao Feng, Gao, China — Organizations: REUTERS, Gartner, CNBC, Air, China Eastern Airlines, China Southern Airlines, Microsoft, Windows, Weibo Locations: REUTERS BEIJING, U.S, China, Texas, United States, Europe, Air China, Beijing

☆ Here comes the wave of insurance claims for the CrowdStrike outage
▼ + stars: | 2024-07-22 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

CrowdStrike's outage might have cost the economy "tens of billions of dollars," said a cyber insurance exec. Businesses are turning to their cyber insurance providers to regain their losses. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFriday's massive CrowdStrike outage grounded businesses and services worldwide to a screeching halt. "Economic damages could reach tens of billions of dollars," Nir Perry, CEO of cyber insurance risk platform Cyberwrite, told Reuters on Saturday.

Persons: —, Nir Perry Organizations: Service, Reuters, 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

☆ CrowdStrike shares tumble as fallout from global tech outage continues
▼ + stars: | 2024-07-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

CrowdStrike shares slipped as much as 13% on Monday morning, as the cybersecurity software company continued to help clients across industries recover from an outage that took millions of Microsoft Windows devices offline last week. The incident ensnared 8.5 million Windows devices, less than 1% of the global total, Microsoft said. CrowdStrike shares fell 11% on Friday, but the fallout was not over yet. Guggenheim Securities downgraded its rating on CrowdStrike shares to neutral from buy on Sunday. Goldman Sachs maintained their buy rating on CrowdStrike shares in a note issued early Monday.

Persons: George Kurtz, CrowdStrike, CNBC's Jim Cramer, John DiFucci, Goldman Sachs, Gabriela Borges, Dave DeWalt Organizations: Microsoft, Guggenheim Securities, McAfee, Intel Locations: Laguna Beach , California, U.S, CrowdStrike

☆ Cybersecurity stock Palo Alto could benefit from CrowdStrike's outage woes
▼ + stars: | 2024-07-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Those customers could go to cybersecurity rival — and Club holding — Palo Alto . Palo Alto shares have yet to see much of a bounce on the news, up just 2.7% since Thursday's close. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance We're long-term bullish on Palo Alto because of its stellar leadership with CEO Nikesh Arora at the helm, along with the company's dominance in its respective market as the only real soup-to-nuts cybersecurity play. It's CrowdStrike.. and Palo Alto, which with this 'platformization' strategy has started to do better," Cramer said. We currently have a 2 rating on Palo Alto shares and a price target of $360.

Persons: CrowdStrike, BTIG, Jeff Marks, Oppenheimer, Jim Cramer, Nikesh Arora, Jim, Cramer, Jim Cramer's Organizations: Palo, —, Microsoft, Fortune, Guggenheim Securities, Scotiabank, Palo Alto Networks, Palo Alto, CNBC, Getty Locations: Palo Alto, Palo

☆ CNBC Daily Open: Biden drops out, endorses Harris
▼ + stars: | 2024-07-22 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Big Tech faces the challenge of rekindling Wall Street's enthusiasm after a $900 billion tech rout.

Persons: Sebastian Raedler, haven't, Stephanie Pope, Max, CNBC's Jim Cramer, Elon Musk, Dan Ives, Lina Khan, Khan, Ives, CrowdStrike, Fred Imbert, —, Alex Harring, Jesse Pound, Kevin Williams, Leslie Josephs, Josie Rozzelle, Kevin Breuninger, Dan Mangan, Zev Fima, Spencer Kimball, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Bank of America, Boeing, Farnborough, Trump, Microsoft, Securities, Big Tech, Google, Apple Locations: New York City, London, New York, New Delhi, Washington

☆ Monday, July 22, 2024: The Club says CrowdStrike's outage could be a tailwind for this cybersecurity stock
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: 1 min

Monday, July 22, 2024: The Club says CrowdStrike's outage could be a tailwind for this cybersecurity stockJim and Jeff discuss the moves for these semiconductor stocks. They also talk this consumer discretionary stock. Finally, they talk about the possible tailwind for this cybersecurity stock.

Persons: Jeff

☆ Insider Today: A historic outage
▼ + stars: | 2024-07-21 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Since then:This story is available exclusively to Business Insider subscribers. You can get the latest on what the political turmoil might mean for businesses, the economy, and markets right here or by downloading the Business Insider app. This week's dispatchMaster/Getty, Yevgeniy Sambulov/Getty, Tyler Le/BIA historic outageComputers at Australian retailer Woolworths froze with the blue screen of death. An update gone wrong from a single company many hadn't heard of before Friday morning brought retailers, banks, hospitals, production lines, and airlines to a halt.

Persons: —, It's, Donald Trump, Yevgeniy Sambulov, Tyler Le, Cash, Tesla, Crowdstrike, Jenny Chang, Rodriguez, Slack, de Haro, Gen Z, Rebecca Zisser, Mickey Mouse, Lizzie McGuire, Hannah Montana Organizations: Service, Business, Woolworths, Airline, Microsoft, Getty, Workers, BI Tech, Big Tech, Disney, YouTube Locations: Japan, Alaska

☆ CrowdStrike's reputation has a 'major black eye.' Earning back customers' trust will be an uphill struggle.
▼ + stars: | 2024-07-20 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Major airlines, banks, and retailers were disrupted by an IT outage linked to CrowdStrike. Regaining its reputation will likely be an enormous task for the cybersecurity firm. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Dan Ives, a technology analyst at Wedbush Securities, wrote in a note seen by Business Insider that it's "clearly a major black eye" for cybersecurity firm CrowdStrike. This story is available exclusively to Business Insider subscribers.

Persons: —, Dan Ives, CrowdStrike, Ives Organizations: Service, Microsoft, Wedbush Securities, Business

☆ CrowdStrike update that caused global outage likely skipped checks, experts say
▼ + stars: | 2024-07-20 | by ( ) www.cnbc.com time to read: +3 min

Security experts said CrowdStrike's routine update of its widely used cybersecurity software, which caused clients' computer systems to crash globally on Friday, apparently did not undergo adequate quality checks before it was deployed. The latest version of its Falcon Sensor software was meant make CrowdStrike clients' systems more secure against hacking by updating the threats it defends against. Patrick Wardle, a security researcher who specializes in studying threats against operating systems, said his analysis identified the code responsible for the outage. It's unclear how that faulty code got into the update and why it wasn't detected before being released to customers. Other security companies have had similar episodes in the past.

Persons: Steve Cobb, Patrick Wardle, John Hammond Organizations: Dusseldorf Airport, Microsoft, Huntress Labs, Fortune, Infrastructure Security Agency Locations: Dusseldorf, Germany, U.S

☆ The CrowdStrike fail and next global IT meltdown already in the making
▼ + stars: | 2024-07-20 | by ( Kevin Williams | ) www.cnbc.com time to read: +3 min

The reality, however, was much more mundane: a botched software update from the cybersecurity company CrowdStrike. "In this case, it was a content update," said Nick Hyatt, director of threat intelligence at security firm Blackpoint Cyber. And because CrowdStrike has such a broad base of customers, it was the content update felt around the world. In this case, the content update was tied to the CrowdStrike Falcon monitoring software. Software updates should be rolled out incrementally One lesson from the global IT outage, O'Neill said, is that CrowdStrike's update should have been rolled out incrementally.

Persons: Nick Hyatt, CrowdStrike, Hyatt, Harun Ozalp, Eric O'Neill, O'Neill, Peter Avery, Avery Organizations: Microsoft, Anadolu, Getty, FBI, Visual Edge Locations: Ankara, Turkey

☆ Microsoft says about 8.5 million of its devices affected by CrowdStrike-related outage
▼ + stars: | 2024-07-20 | by ( ) www.cnbc.com time to read: +1 min

The blue screen of death errors on computer screens are viewed due to the global communications outage caused by CrowdStrike, which provides cyber security services to US technology company Microsoft, on July 19, 2024 in Ankara, Turkey. A global tech outage that was related to a software update by cybersecurity firm CrowdStrike affected nearly 8.5 million Microsoft devices, Microsoft said in a blog on Saturday. "We currently estimate that CrowdStrike's update affected 8.5 million Windows devices, or less than one percent of all Windows machines," it said in the blog. CrowdStrike has helped develop a scalable solution that will help Microsoft's Azure infrastructure accelerate a fix, Microsoft said, adding that the tech giant had worked with both Amazon Web Services and Google Cloud Platform to collaborate on the "most effective approaches." Air passengers worldwide faced delays, flight cancellations and headaches checking in as airports and airlines were caught up in the IT outage that affected numerous industries ranging from banks to media companies.

Persons: CrowdStrike Organizations: Microsoft, Amazon Web Services, Google, Air Locations: Ankara, Turkey

☆ Why it's taking time for companies to recover from the Crowdstrike IT outage
▼ + stars: | 2024-07-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Airlines, banks, and supermarkets face disruption due to an IT outage linked to Crowdstrike. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMajor airlines, banks, and supermarkets are experiencing widespread disruptions linked to an IT outage after Microsoft reported problems linked to an update issued by cybersecurity firm Crowdstrike. He told NBC News that Crowdstrike was rebooting its operations but that "it could be some time for some systems — it [won't] just automatically recover." This story is available exclusively to Business Insider subscribers.

Persons: —, George Kurtz, Crowdstrike Organizations: Service, Microsoft, NBC News, Business

☆ Crowdstrike shares plunge in premarket after massive global IT outage
▼ + stars: | 2024-07-19 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Crowdstrike shares dropped as much as 20% in premarket trade on Friday after an IT outage caused chaos. Microsoft shares also fell as issues with the firm's services disrupted airports and emergency services. AdvertisementCrowdstrike's stock price plunged Friday as a massive IT outage caused global chaos. Elsewhere, Microsoft's stock also looked set to drop on Friday, falling by as much as 3% in premarket trade. AdvertisementIn a post on X, CrowdStrike CEO George Kurtz said the company is "actively working with customers impacted by a defect found in a single content update for Windows hosts.

Persons: —, George Kurtz Organizations: Microsoft, Service, London Stock Exchange, Windows, Linux, Business

Read previewMajor airlines, banks, and supermarkets are experiencing widespread disruptions linked to an IT outage after Microsoft reported problems with its online services. American Airlines, Delta Airlines, and United Airlines are among the airlines that have issued ground stops for their aircraft due to communication issues, Reuters reported. A spokesperson for Singapore's Changi Airport told BI: "Due to a global outage affecting IT systems of many organizations, the check-in process for some airlines at Changi Airport is being managed manually." On Thursday night, Frontier Airlines issued a ground stop order, saying in a statement: "flight operations are currently being impacted by a major Microsoft technical outage." AdvertisementThe Austin-headquartered tech giant, which specializes in security for cloud computing platforms, confirmed with CNBC on Friday morning that it was receiving outage reports.

Persons: —, Dan Coatsworth, AJ Bell, CrowdStrike, Omer Grossman, CyberArk, Grossman Organizations: Service, Microsoft, American Airlines, Delta Airlines, United Airlines, Reuters, London Stock, Business, BI, —, Local, Changi, Changi Airport, Melbourne Airport, Sydney Airport, Rajiv Gandhi, Edinburgh Airport, Berlin Airport, Ryanair, Europe's, Frontier Airlines, CNBC, Windows Locations: Singapore, Changi, Australia, Delhi, India, Germany

☆ CrowdStrike's terms and conditions say most customers would just get a refund due to the massive outage, cybersecurity lawyer says
▼ + stars: | 2024-07-19 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

But, according to the cybersecurity company's terms and conditions, CrowdStrike doesn't have to shell out anything more than a simple refund. The terms for CrowdStrike's Falcon security software — which is used by companies and government agencies around the world — limit liability to "fees paid." AdvertisementThat means CrowdStrike users who signed the standard terms and conditions can't expect to get more than a refund from the company, Waller said. Related storiesBigger companies using CrowdStrike's software — like some of the airlines or hospital chains affected — may have negotiated different terms and conditions contracts with the cybersecurity company. According to Waller, most cyber insurance companies have policies that cover "contingent business interruption" or "dependent business interruption."

Persons: —, Elizabeth Burgin Waller, Woods, Waller, CrowdStrike didn't, I've, CrowdStrike, We've, SolarWinds, Paul Engelmayer Organizations: Service, CrowdStrike's Falcon, Business, CrowdStrike, Woods Rogers, CrowdStrike's, SEC, Securities and Exchange Commission Locations: Manhattan, Russian

☆ Stock market today: Indexes trade mixed amid massive CrowdStrike IT outage
▼ + stars: | 2024-07-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks were mixed on Friday amid a global tech outage sparked by Crowdstrike's cybersecurity platform. Investors are paying close attention to second-quarter earnings results, which could make or break the year-to-date rally in stocks. AdvertisementUS stocks saw mixed trades on Friday amid a global tech outage sparked by an update from cyber security firm Crowdstrike. The Crowdstrike update contained a bug that led to widespread disruption for computers running Microsoft's Windows operating system. The deluge of earnings results will help inform investors if rising profits can sustain the strong year-to-date rally in stock prices.

Persons: Crowdstrike's, —, Crowdstrike Organizations: Service, Microsoft, Investors, Nasdaq, Netflix Locations: Fundstrat, Here's

☆ How CrowdStrike's stumble could impact our cybersecurity stock Palo Alto
▼ + stars: | 2024-07-19 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Shares of Club holding Palo Alto Networks rose more than 1% Friday after an update from its cybersecurity rival CrowdStrike caused a widespread IT outage across the globe. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, CrowdStrike, Nikesh Arora, Jeff Marks, Jeff, Eli Lilly, Jim, Lilly, Roche, Eli Lilly's, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Palo Alto Networks, Palo Alto, Novo Nordisk Locations: Danish

An update by cybersecurity firm CrowdStrike led to a major outage on Friday, the company told NBC, which impacted businesses globally. CrowdStrike said it is now in the process of rolling back the update that caused the issue. The confirmation came after widespread reports of technical issues across the world. Australian telecom firm Telstra said global issues affecting CrowdStrike and Microsoft were disrupting some of its systems. NBC Universal is also being affected by the CrowdStrike outage.

Persons: CrowdStrike Organizations: NBC, Microsoft, Windows, Airlines, London Stock Exchange, Sky News, CNBC, Comcast, Ryanair, Telstra, NBC Universal Locations: U.S

☆ How one IT update gone wrong has sparked chaos around the world
▼ + stars: | 2024-07-19 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewIf the world needed a wake-up call on just how fragile its IT systems are, it just got one: a small update gone wrong appears to be the culprit for a total global meltdown. CEO George Kurtz said on X the issue was caused by a "defect found in a single content update for Windows" with a fix now deployed. CrowdStrike is actively working with customers impacted by a defect found in a single content update for Windows hosts. AdvertisementBug checkAccording to Microsoft's Azure status page , it's a particular issue with Crowdstrike's "Falcon agent" that was affecting systems. In other words, the agent meant to detect bugs is getting checked to see if it's a bug itself — and causing problems as a result.

Persons: —, Morgan, George Kurtz, — George Kurtz, Crowdstrike, Dan Coatsworth, AJ Bell, Omer Grossman, Grossman, Brody Nisbet Organizations: Service, Business, Bloomberg, Computers, Woolworths, Microsoft, CrowdStrike, Windows, Linux, Democratic National Committee, Sony Pictures Locations: Japan, Australia, Switzerland, Singapore, Britain, Austin

☆ Citi Research's Stephen Trent on global outage impact on airlines
▼ + stars: | 2024-07-19 | 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 EmailCiti Research's Stephen Trent on global outage impact on airlinesStephen Trent, Citi Research airline analyst, joins 'Power Lunch' to discuss the impact of CrowdStrike's IT outage on the airline industry and more.

Persons: Stephen Trent Organizations: Citi, Citi Research

☆ The massive IT outage is a disturbing reminder of how dependent we all are on just a few companies
▼ + stars: | 2024-07-19 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIf you had to fly, log in to your bank account, or go for elective surgery, a massive IT outage Friday offered a reminder: We're all in this technical morass together. "And when it's combined with the Microsoft platform, which it was in this instance, that's really going to amplify the disruptions that you're seeing." "It's going to make it harder for the government to issue and maintain regulatory structures," he said of the decision. "That's really not going to happen when you've got 85% of the infrastructure in private sector hands," he said.

Persons: —, CrowdStrike, Chris Cummiskey, Cummiskey, Charles Hosner, it's, Hosner, that's, you've Organizations: Service, Business, Cummiskey Strategic Solutions, US Department of Homeland Security, Microsoft, Boston Consulting, LinkedIn, DHS, White Locations: Netherlands, Belgium, Washington

☆ The mass IT outage is causing chaos, but social media users are having a field day
▼ + stars: | 2024-07-19 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +4 min

While businesses scramble to deal with the consequences of the hit, social media users are responding in the best way they know how: memes. 'The blue screen of death'Many PC users logged on to their computers on Friday to be met with Window's so-called blue screen of death. Attached is a photo of five laptops on an office desk, all displaying the "blue screen of death." Advertisement"Crowdstrike is accomplishing what we thought Y2K would be, it's quite impressive," one user posted on X. AdvertisementSocial media users have been quick to point out the irony of how CrowdStrike's software, which is meant to prevent businesses from being brought down, has ended up accidentally causing so much chaos.

Persons: —, Window's Organizations: Service, Microsoft, Business Locations: Las Vegas

☆ How a software update caused one of the world's biggest IT blackouts
▼ + stars: | 2024-07-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

On Friday, the cybersecurity firm experienced a major disruption following an issue with a software update. CrowdStrike is a cybersecurity vendor that develops software to help companies detect and block hacks. In the case of Friday's outage, machines running Microsoft's Windows operating system crashed due to a fault in the way a software update issued by CrowdStrike interacted with Windows. We approximate impact started around 19:00 UTC on the 18th of July," Microsoft said in an update at 5:40 a.m. Unless Microsoft and CrowdStrike (if they are involved) pull something miraculous out of the bag, this could be painful to recover from."

Persons: George Kurtz, Patrick T, CrowdStrike, —, Kurtz, Andy Grayland, They'd Organizations: CrowdStrike Inc, Montgomery Summit, Fallon, Bloomberg, Getty, TV, CNBC, Fortune, Windows, Machines, Microsoft, CrowdStrike, Linux Locations: Santa Monica , California, Texas, U.S

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