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☆ Stocks making the biggest moves midday: Kenvue, Caterpillar, Uber, CrowdStrike and more
▼ + stars: | 2024-08-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts' estimates for its second quarter. Kenvue, which spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet. Palantir now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance of $2.68 billion to $2.69 billion. Caterpillar's adjusted earnings totaled $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts polled by FactSet. CrowdStrike — Shares rose 3% after Piper Sandler upgraded CrowdStrike to overweight from neutral, saying the dip in the cybersecurity stock following the global tech outage is a buying opportunity.

Persons: Johnson, FactSet, Taco Bell, ZoomInfo, LSEG, Lucid, BioMarin, CrowdStrike, Piper Sandler, —, Sarah Min, Sean Conlon, Yun Li, Jesse Pound Organizations: Johnson, FactSet, Revenue, Caterpillar, Lumen Technologies, Molson Coors Beverage —, Technologies, LSEG, Taco, CSX —, CSX, BioMarin Pharmaceutical Locations: China, Shanghai

☆ CrowdStrike Hits Back in Heated Spat With Delta Over Global Tech Outage
▼ + stars: | 2024-08-05 | by ( Lauren Hirsch | More About Lauren Hirsch | ) www.nytimes.com time to read: +1 min

The legal saber rattling between the cybersecurity company CrowdStrike and Delta Air Lines over the global I.T. outage last month just ratcheted up a notch. The blame for Delta’s woes lies with the airline alone, the lawyers wrote. The letter was in response to Delta’s hiring of David Boies, a prominent litigator, and saying that it would seek damages over the outage, which it said cost it $500 million. Shares in both companies have plunged since the July 19 outage, with CrowdStrike down more than 35 percent.

Persons: Quinn Emanuel Urquhart, Sullivan, David Boies, Pete Buttigieg —, ”, we’re Organizations: Delta Air Lines, The New York Times, NPR, Transportation Locations: Delta

☆ Samsung Employees Return to Work After Strike Fails to Win Concessions
▼ + stars: | 2024-08-05 | by ( Jin Yu Young | More About Jin Yu Young | ) www.nytimes.com time to read: +1 min

Thousands of unionized workers at Samsung Electronics in South Korea, who had declared an indefinite strike last month, had returned to work by Monday after failing to win concessions from the global tech giant. It was the first unionized action in the decades-long history of Samsung, one of the world’s biggest makers of computer chips. But the striking employees, numbering roughly 6,500 or so, accounted for only a fraction of union membership and a sliver of the company’s total work force. Most of them were back at work by Monday, according to Lee Hyun Kuk, the vice president of the Nationwide Samsung Electronics Union. But the financial burden of a prolonged, unpaid strike on employees forced union leaders to issue a back-to-work order last week.

Persons: Lee Hyun Kuk Organizations: Samsung Electronics, Samsung, Nationwide Samsung Electronics Union Locations: South Korea

☆ Nvidia is on an acquisition spree even as regulatory scrutiny heats up and AI M&A cools
▼ + stars: | 2024-08-05 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

According to public announcements, the firm has made four acquisition deals so far in 2024, exactly even with Nvidia's 2020 deal total. Nvidia declined to discuss its acquisition strategy for this report, citing a quiet period before it announces earnings on August 28. In May, Nvidia agreed to acquire Deci AI, another Israeli startup that makes tools for developers to build AI models, for $300 million. In July Nvidia competitor AMD announced an agreement to acquire Silo AI, a Finnish AI startup, for $655 million. And this quiet trickle of deals in various forms is unlikely to stop since the market for AI talent is so tight.

Persons: —, Nader Khalil, Colette Kress, Kress, it's, OpenAI, Paul Baier, GAI, Baier, Umesh Pavdal, Thomvest Organizations: Service, Nvidia, Microsoft, Department of Justice, Federal Trade Commission, Business, ARM, Softbank, Politico, Shoreline, LinkedIn, Citi Global, DOJ, FTC, Amazon, AMD, Silo Locations: Israeli, California, San Francisco, Finnish

☆ Airlines may be struggling but global travel is in an uptrend. These companies are set to benefit
▼ + stars: | 2024-08-02 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Global Jets ETF , whose largest holdings are Southwest Airlines , United Airlines , American Airlines and Delta Air , is off 7.5% just since the end of June. GE Aerospace GE Aerospace is a pure play on the rise of global air travel, according to John Belton, portfolio manager at Gabelli Funds. Just about all 18 analysts polled by LSEG consider GE Aerospace a buy, with five rating it a strong buy. Central to the investment thesis for GE Aerospace is its market leadership. "The air travel industry is a growth industry," Galluccio said.

Persons: Richard Branson, John Belton, Belton, Nicholas Galluccio, Galluccio, Morningstar, that's, Tony Bancroft, Bancroft, there's, wanderlust Organizations: Virgin Group, U.S . Global Jets ETF, Southwest Airlines, United Airlines, American Airlines, Delta Air, Transportation, Boeing, Airbus, Gabelli, International Air Transport Association, AAR Corp, Teton Advisors, Westwood, Equity, GE Aerospace GE Aerospace, Gabelli Funds, New York Stock Exchange, General Electric, GE Aerospace, LSEG, GE, Airlines, Morningstar, Growth, Max, Federal Aviation Administration, Aerospace & Defense ETF, Heico Corporation, Triumph, TransDigm Locations: U.S, Eastern Europe

☆ World’s first major AI law enters into force — here's what it means for U.S. tech giants
▼ + stars: | 2024-08-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

"It is likely to impact many businesses, especially those developing AI systems but also those deploying or merely using them in certain circumstances." For AI applications deemed to be "high-risk," for example, strict obligations will be introduced under the AI Act. watch nowExamples of high-risk AI systems include autonomous vehicles, medical devices, loan decisioning systems, educational scoring, and remote biometric identification systems. Generative AI is labelled in the EU AI Act as an example of "general-purpose" artificial intelligence. General-purpose AI models include, but aren't limited to, OpenAI's GPT, Google's Gemini, and Anthropic's Claude.

Persons: Dado Ruvic, Tanguy Van Overstraeten, Charlie Thompson, Appian, Thompson, Meta, OpenAI's, Google's, Anthropic's Claude, Jamil Jiva, Linedata, GDPR, Jiva Organizations: Reuters, European Commission, EU, CNBC, Microsoft, Google, Apple, Web Services, Big Tech, EMEA, Data, Facebook, Companies, AI Office, Commission Locations: Brussels, EU, Europe

☆ SoftBank-backed Ola Electric aims to raise $734 million in India's biggest IPO this year
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: +3 min

The new Ola electric scooters displayed during its launch at the Ola headquarters in Bangalore on August 15, 2021. With e-scooter prices starting at around $900, Ola Electric has become the biggest player in a country where adoption of clean vehicles is still low, but rising rapidly. In the IPO, Ola will issue new shares to raise $657 million while existing investors offload their stake of about $77 million to IPO investors, the term sheet showed. Aggarwal and investors such as SoftBank and Matrix Partners will sell part of their stakes in the IPO. Monday's newspaper ad showed 10% of the IPO will be reserved for retail investors, with proceeds going to fund capital expenditure and research and development efforts.

Persons: Manjunath Kiran, MANJUNATH KIRAN, Ola Electric, Narendra Modi's, Tesla, Ola, Bhavish Aggarwal Organizations: Ola, Getty, Tata Motors, TVS, Hyundai, West, Temasek, Fidelity, Nomura, Norges Bank, Reuters, Financial Express, Matrix Partners Locations: Bangalore, India

☆ Cato CEO on the future of cybersecurity
▼ + stars: | 2024-07-29 | 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 EmailCato CEO on the future of cybersecurityShlomo Kramer, Cato Networks CEO, joins 'Money Movers' to discuss the state of cybersecurity as the global tech outage continues to wane on consumers.

Persons: cybersecurity Shlomo Kramer Organizations: Cato Networks Locations: cybersecurity

☆ How the AI revolution could cost you your job without replacing you
▼ + stars: | 2024-07-26 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

But as tech firms plan to invest billions of dollars in generative AI technologies, there's been another explanation for job cuts. While there's been a mountain of speculation about if and when AI technologies like ChatGPT could displace workers, their near-term impact on job losses could be less about job replacement and more about the cost of AI investments. The risks of AI job replacement remains to be seenIn the big picture, Netzer said he expects AI technologies to be an "enhancer rather than a replacer of jobs" in the years ahead. Advertisement"For many jobs, AI is likely to enhance our job, allowing us to spend more time on the things we enjoy doing and less time on the mundane," he said. AdvertisementBenedikt Frey pointed to translators as one profession that has seen fewer employment opportunities due to generative AI, per his research.

Persons: —, there's, Goldman Sachs, Mark Zuckerberg, Meta, Sundar Pichai, Daniel Rausch, Dan Ives, It's, Carl Benedikt Frey, Netzer, Benedikt Frey Organizations: Service, Apple, Microsoft, Industry, Business, Google, Amazon, Alexa, Fire, Wedbush Securities, Big Tech, FT, Columbia Business School, University of Oxford

☆ Southwest Airlines is getting rid of open seating
▼ + stars: | 2024-07-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

Southwest said customers were clamoring for these changes – when people switch to a competitor from Southwest, the company said the No. But the change will also help the company charge some passengers more for their tickets. “The research is clear and indicates that 80% of Southwest customers, and 86% of potential customers, prefer an assigned seat,” said the airline in a statement. Southwest doesn’t charge for carry on bags and has long allowed passengers to check two bags for free. The premium seats, which will offer more legroom, will not be available until 2025 as it will require reconfiguring its planes.

Persons: ”, Max Organizations: New, New York CNN, Southwest, United, Delta, Boeing Locations: New York, Southwest, Delta

He told CNN he wasn’t notified of the minors program embargo. The couple flew to Atlanta, Georgia, from Spokane, Washington, on a Delta flight and encountered no issues, they told CNN. Travelers wait for their luggage at the Delta baggage claim at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Tuesday, July 23, 2024. “There should be some kind of compensation for this.”He told CNN the issues have cost him a significant amount of money. Bastian also told Delta passengers in a note on Sunday that the airline would “continue to offer meal vouchers, hotel accommodations and transportation where available.

Persons: CNN —, “ Delta, ”, Reed, wasn’t, Delta, He’s, Pete Buttigieg, Jeremy, Kaylee Jones, Lucia, ” Jones, Ed Bastian, Christian Monterrosa, Dylan Steele, Steele, “, Arthur Ginolfi, I’ve, Ginolfi, Bastian, we’re Organizations: CNN, Delta, “, LaGuardia, Delta Air Lines, Atlanta’s Hartsfield, Jackson International Airport, Hartsfield, Jackson Atlanta International, Bloomberg, Getty, Jackson Airport, Delta Airlines Locations: Delta, Atlanta, Charlotte, New, Orlando, New York, Florida, St, Atlanta , Georgia, Spokane , Washington, Delta’s, South Georgia, Washington, Jackson, Philadelphia, New Jersey

☆ Delta’s CEO went to Paris Olympics as his airline struggles to recover from massive meltdown
▼ + stars: | 2024-07-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

Meanwhile, Bastian traveled to Paris for the Olympics, accordingly, where Delta is a sponsor of the US Olympic Team. Ed remains fully engaged with senior operations leaders.”Delta Air Lines CEO Ed Bastian traveled to Paris Wednesday for the start of the Olympics later this week as the airline works to recover from a five-day service meltdown. Jeenah Moon/Bloomberg/Getty Images/FileBastian flew to Paris on a Delta commercial flight, not a private jet, the airline said. As the official airline of the US Olympic Team, the company is flying athletes, coaches and other support staff to Paris. “Unless you’re going to the Olympics, people aren’t going to Paris… very few are,” Bastian told CNBC.

Persons: Ed Bastian, Delta, Bastian, “ Ed, ”, Ed, CrowdStrike, Jessica McGowan, ” Bastian Organizations: New, New York CNN, Olympics, US Olympic, CNN, Delta Air, Paris Wednesday, Bloomberg, Getty, US Olympic Team, Olympic, Delta, Delta Air Lines, Hartsfield International Airport, CNBC, “ Locations: New York, Paris, Delta, Atlanta

☆ Nasdaq tracks for worst day since 2022 after Alphabet and Tesla fail to impress Wall Street
▼ + stars: | 2024-07-24 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Tech shares led a selloff Wednesday after lackluster earnings reports from two of the market’s most prominent heavyweights. The Nasdaq Composite declined 3%, on pace for its worst daily percentage decline since December 2022. The electric vehicle maker faces growing competition from established automakers domestically and internationally and a slowdown in EV sales growth. Wall Street has rotated out of the tech bigwigs that led stocks higher over the past year in favor of smaller stocks that have been beaten down by sky-high rates. The Russell 2000, which tracks the performance of US small-cap stocks, is up 9.3% for the month, outperforming the S&P 500’s 0.1% loss.

Persons: didn’t, Russell, cybercriminals, Biden Organizations: New, New York CNN — Tech, Nasdaq, Dow, YouTube, Federal Reserve, Investors, Bloomberg Locations: New York, China

☆ CrowdStrike to vendors: Sorry for the global tech outage. Here’s a $10 Uber Eats voucher
▼ + stars: | 2024-07-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

Third-party agents selling and supporting CrowdStrike software and the complicated repairs for customers have been a miserably busy bunch over the past week. CrowdStrike’s token of appreciation for those vendors: a $10 Uber Eats voucher. But a $10 Uber Eats voucher should make it all better, right? The ironic part is, at least where I’m located, I can’t even get a pizza for $10 on Uber Eats after taxes and fees. But the software giant has yet to dole out a nickel to them for their troubles — not even a $10 Uber Eats voucher.

Persons: CNN Business ’, There’s, Uber, Coke, cybercriminals, Brian Fung, Sean Lyngaas, CrowdStrike, hasn’t, Chris Isidore, — Organizations: CNN Business, New York CNN Locations: New York

☆ CrowdStrike sent its partners $10 Uber Eats gift cards as an apology for mass IT outage
▼ + stars: | 2024-07-24 | by ( Erin Snodgrass | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Read previewCrowdStrike, the cyber security firm responsible for last week's global tech outage, is thanking its partners for their extra work in the aftermath of the crash with $10 Uber Eats gift cards. The first email, which was addressed to CrowdStrike partners, was signed by Daniel Bernard, chief business officer at the company. Related storiesAbout four hours after the Uber Eats voucher was canceled, the source got another email with a $10 credit and the message, "You've been sent a Oops! Uber eats voucher!" The CrowdStrike spokesperson told BI that Uber flagged the gift cards as fraud because so many people were redeeming them.

Persons: —, CrowdStrike, Daniel Bernard, Bernard, Uber, You've Organizations: Service, Social, Business, BI, Uber, Windows

☆ What Delta passengers are entitled to in terms of compensation
▼ + stars: | 2024-07-23 | by ( Marnie Hunter | ) edition.cnn.com time to read: +7 min

And some weary, frustrated passengers were still trying to reconstruct travel plans or abandon them for compensation. Here’s what we know about what they’re entitled to and how passengers can make claims with the airline. What are Delta passengers entitled to? Delta lists a “right to a refund upon request” in a Monday afternoon update on what it’s doing to serve affected customers. Some passengers reported six-hour waits, and many affected passengers had trouble securing food and lodging over the weekend.

Persons: Pete Buttigieg, “, ” Buttigieg, Buttigieg, ”, ” Delta, CNN’s Chris Isidore, Isabel Rosales, Amanda Musa Organizations: CNN, Delta Air Lines, Department of Transportation, Delta, of Transportation, Transportation, Delta’s, Atlanta’s Hartsfield, Jackson, “, ”, USDOT, Baggage Service, Service, Command Locations: Delta, Atlanta

☆ Cathie Wood is buying the dip with CrowdStrike
▼ + stars: | 2024-07-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

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

☆ Families Left Scrambling After Delta Bars Minors From Flying Alone in Wake of Outage
▼ + stars: | 2024-07-23 | by ( Yan Zhuang | ) www.nytimes.com time to read: +1 min

Scott Darling and his wife drove their 17-year-old son, Asher, to the San Jose airport on Sunday morning and saw him off at the check-in counter. They were back in their car and pulling out of the airport when they got a frantic call: Delta Air Lines wouldn’t let Asher check in because he didn’t have a parent accompanying him on the flight. Darling said. Asher had flown by himself on several occasions, he said, and “we were never notified about this.”Delta has been the slowest U.S. airline to restore its operations, canceling over 1,000 flights each day from Friday to Monday. Another 400 had been canceled as of 7 a.m. on Tuesday, according to the flight tracking website FlightAware.

Persons: Scott Darling, Asher, ” Mr, Darling, Pete Buttigieg, Delta Organizations: San, Delta Air Lines, Microsoft Locations: San Jose

☆ The global tech outage showed how we’re just one mistake away from chaos
▼ + stars: | 2024-07-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

“So this is going to be incredibly painful for CrowdStrike customers.”And even if your business had nothing to do with CrowdStrike, the outage still might have ruined your day. You didn’t have to be a CrowdStrike customer to get screwed by the company’s mistake, and that’s what made Friday’s outage so frustrating. But the scale of the CrowdStrike outage is once again underscoring just how interconnected the world has become through a network almost none of us understands and which is largely self-regulating. Microsoft estimated the CrowdStrike outage affected some 8.5 million Windows devices. “Our tech platforms have a mix of legacy systems coupled with modern systems, which means that the weakest link determines the overall system performance.

Persons: CNN Business ’, — didn’t, you’ve, CrowdStrike, Brian Fung, ”, Kevin Beaumont, underscoring, Stuart Madnick, Anil Khurana, ” Khurana, Khurana, Madnick, it’s Organizations: CNN Business, New York CNN, Blue, Microsoft, MIT Sloan School of Management, Airlines, Baratta Center, Global Business, Georgetown’s McDonough Business School, Boeing, JPMorgan Locations: New York

☆ Delta is still melting down. It could last all week
▼ + stars: | 2024-07-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

Frustrated passengers and crewsThe problems left tens of thousands of frustrated Delta customers stranded and unable to return home. Delta crew members are dealing with similar frustrations. Some Delta crew members also are unable to get hotel rooms and are sleeping at airports. This week, Delta remained in the dark about the whereabouts of its crew members. Delta also declined to comment on these offers to crew members.

Persons: Rahul Samant, ” Samant, Ed Bastian, “, Ed, ”, Delta, Raymond James Organizations: New, New York CNN, Delta Air Lines, Endeavor Air, Delta Connection, Delta, IT, “, CNN Locations: New York, Atlanta, Delta

☆ 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

☆ Global markets rise after Biden exit
▼ + stars: | 2024-07-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Global markets made solid gains after President Joe Biden dropped out of the 2024 presidential election Sunday and endorsed Vice President Kamala Harris as the Democratic nominee. European markets were higher, and Asian markets closed mostly lower. But “the fact that Biden endorsed Kamala Harris reduces uncertainty,” said Jay Hatfield, CEO at Infrastructure Capital Advisors. “Markets are increasingly focused on the US presidential election in November,” wrote Deutsche Bank’s Henry Allen in a research note on Monday. Stocks tumbled toward the end of last week as a turbulent election cycle and a global tech outage rocked technology stocks in particular.

Persons: Joe Biden, Kamala Harris, Donald Trump, unwind, Harris, Biden, ”, Jay Hatfield, Trump, ” Hatfield, Deutsche Bank’s Henry Allen, Lyndon Johnson, Stocks Organizations: New, New York CNN — Global, Democratic, Dow, Nasdaq, Trump, Infrastructure Capital Advisors, Deutsche Bank, “, Deutsche Locations: New York

☆ Hackers are already taking advantage of the CrowdStrike outage chaos
▼ + stars: | 2024-07-22 | by ( Brian Fung | Sean Lyngaas | ) edition.cnn.com time to read: +6 min

CrowdStrike has issued its own guidance on what affected organizations can do in response to the issue. One example of that has been targeting Spanish-speaking CrowdStrike customers, the company said in a separate blog post. When opened, the file installs malicious software that phones home to a server the hackers control and may use to give additional instructions to the malware. “CrowdStrike Intelligence recommends that organizations ensure they are communicating with CrowdStrike representatives through official channels and they adhere to technical guidance the CrowdStrike support teams have provided,” the company said. “Bad actors routinely try to take advantage of current events, so it’s not all surprising to see them attempting to take advantage of this one,” Callow said.

Persons: CNN —, ”, CrowdStrike, Kenn White, “, cybercriminals, Lina Khan, Azim Khodjibaev, Brett Callow, ” Callow Organizations: CNN, Department of Homeland Security, Infrastructure Security Agency, CrowdStrike Intelligence, Federal Trade Commission, Internal Revenue Service, Social Security Administration, FTC, Cisco, FTI Consulting

☆ CrowdStrike outage: What we know 4 days after a software update brought down computer systems around the world
▼ + stars: | 2024-07-22 | by ( Zoe Sottile | ) edition.cnn.com time to read: +7 min

CNN —Four days after a faulty software update from a cybersecurity company unexpectedly brought down computers and technical systems across the world, airlines and some other companies are still experiencing delays and other technical problems. The outage was related to a software update rolled out by CrowdStrike, a major US cybersecurity firm. The issue is specific to Falcon, one of CrowdStrike’s main software products, and is not impacting Mac or Linux operating systems, according to the advisory. US-based carriers American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, SunCountry and Frontier Airlines all reported issues on Friday. More than 1,200 Delta flights were canceled on Sunday, after the carrier canceled 1,208 flights on Saturday, according to FlightAware.

Persons: ” –, Patrick Anderson, —, CrowdStrike, “, George Kurtz, Kurtz, Crowdstrike, United, Delta, Pete Buttigieg, Ed Bastian, ” Buttigieg, Bastian, it’s, David Kennedy, “ It’s, ” Kennedy, “ There’s, Buttigieg, Brigham, Dana Organizations: CNN, Microsoft, Anderson Economic Group, Fortune, Travelers, Marriott International, American Airlines, United Airlines, Delta Air Lines, Allegiant Airlines, Frontier Airlines, Delta Airlines, Delta, Delta Air, Department, Turkish Airlines, Jetstar, Hong Kong Express, Cebu Pacific, Binary Defense, Mass, Penn Medicine, Mount, Mount Sinai Health, Emory Healthcare, Farber Cancer Institute, New, Memorial Sloan Kettering Cancer Center, Government, Social Security, Department of Motor Vehicles, UPS, FedEx Locations: Delta, FlightAware, Jetstar Japan, Hong, Massachusetts, Pennsylvania, Mount Sinai, New York, Atlanta, Boston, Arizona, Alaska, Washington ,

☆ Costs from the global outage could top $1 billion – but who pays the bill is harder to understand
▼ + stars: | 2024-07-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —The world learned relatively quickly that cybersecurity firm CrowdStrike was behind a crippling global tech outage on Friday. Billion-dollar billExperts largely agree it’s too early to get a firm handle on the price tag for Friday’s global internet breakdown. His firm estimates that a recent hack of CDK Global, a software firm that serves US car dealerships, reached that $1 billion cost mark. It’s also not clear how many customers CrowdStrike might lose because of Friday. It will be difficult, and not without additional costs, for many customers to switch from CrowdStrike to a competitor.

Persons: CrowdStrike, ”, you’re, Dan Ives, it’s, Patrick Anderson, Anderson, Harry Reid, Ty ONeil, “, James Lewis, Lewis, It’s, Wedbush Securities ’, ” Ives, George Kurtz, ’ ”, Eric O’Neill Organizations: New, New York CNN, CNN, Wedbush Securities, Anderson Economic Group, Harry, Harry Reid International Airport, Microsoft, Center for Strategic, International Studies, SolarWinds, Exchange Commission, CNBC Locations: New York, Michigan, Russian, CrowdStrike

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