CDK Global Aims To Restore Car Dealership Systems After Massive Outage Impacted 15,000 Clients Following Cyberattacks
Portfolio Pulse from Anan Ashraf
CDK Global is working to restore its dealer management system (DMS) after cyberattacks impacted 15,000 U.S. car dealerships. The company aims to have all dealer connections live by July 4th. CDK Global was acquired by Brookfield Business Partners (NYSE:BBU) in 2022. Additionally, Advance Auto Parts (NYSE:AAP) is investigating a potential data attack connected to Snowflake (NYSE:SNOW).
July 02, 2024 | 10:20 am
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NEGATIVE IMPACT
Advance Auto Parts (AAP) is investigating a potential data attack connected to Snowflake (SNOW). This could lead to short-term volatility in AAP's stock price.
The investigation into a potential data attack could create uncertainty and negative sentiment around AAP's stock, leading to short-term volatility.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Brookfield Business Partners (BBU) acquired CDK Global in 2022. The recent cyberattacks on CDK Global and the subsequent restoration efforts could impact BBU's stock price in the short term.
BBU's acquisition of CDK Global ties its performance to CDK's operational stability. The cyberattacks and the ongoing restoration efforts could create uncertainty and potential short-term negative sentiment around BBU's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Snowflake (SNOW) is connected to a potential data attack being investigated by Advance Auto Parts (AAP). This could impact SNOW's stock price in the short term.
The potential data attack involving Snowflake could create uncertainty and negative sentiment around SNOW's stock, leading to short-term volatility.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60