Streetbeat News

Security

HSBC

JPM

Drug traffickers exploited Citigroup ATMs for money laundering due to perceived lax fraud controls. U.S. prosecutors indicted individuals linked to the Sinaloa cartel for depositing large sums in small increments to avoid detection. JPMorgan Chase was also mentioned but not implicated in failing to flag suspicious transactions.

Portfolio Pulse from Vandana Singh

July 02, 2024 | 3:25 pm

SPY

Federal Reserve Chair Jerome Powell discussed the potential impact of AI, noting a sense of significant change on the horizon. He mentioned that the Fed is not currently using generative AI and expressed concerns about cyber risks.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 2:31 pm

AFRM

FINX

IPAY

Affirm Holdings Inc (NASDAQ:AFRM) reported a cybersecurity breach at Evolve Bank and Trust, affecting Affirm card users' data. Affirm's systems were not compromised, and card usage remains unaffected. The breach has led to a minor premarket decline in AFRM shares.

Portfolio Pulse from Anusuya Lahiri

July 02, 2024 | 12:29 pm

AAP

BBU

SNOW

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).

Portfolio Pulse from Anan Ashraf

July 02, 2024 | 10:20 am

WKEY

WISeKey's subsidiary WISeSat.Space is set to launch blockchain nodes with SpaceX to enhance satellite operations. This project aims to improve logistics, insurance, government regulations, and data security in the satellite industry by integrating blockchain technology. The initiative promises to bring transparency, trust, and efficiency to satellite operations, making them more reliable and cost-effective.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 7:19 am

AMZN

GOOG

GOOGL

Alphabet's Google and Amazon-backed Anthropic are leading an initiative to redefine AI evaluation standards by funding the development of advanced AI benchmarks. This program aims to address current inadequacies in AI benchmarking and provide a more comprehensive evaluation of AI models, including generative models like Anthropic's Claude.

Portfolio Pulse from Benzinga Neuro

July 02, 2024 | 4:45 am

IBM

MSFT

IBM and Microsoft have announced a collaboration to enhance cybersecurity for clients, focusing on modernizing security operations and protecting hybrid cloud identities. This partnership combines IBM's cybersecurity services with Microsoft's security technology.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 8:01 pm

AAP

AZO

CVNA

KMX

ORLY

Shares of auto dealers and auto-related stocks are trading lower following a cyber attack on CDK targeting dealerships. CDK expects all dealers to be back online by Thursday.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 7:09 pm

FDX

LOW

SPG

FedEx Corp (NYSE:FDX) is under scrutiny for allegedly partnering with law enforcement to share surveillance footage from its vehicles, raising privacy concerns. The program, which uses AI technology from Flock Safety, has been criticized by the ACLU. Other companies like Simon Property Group Inc (NYSE:SPG) and Lowe’s Companies Inc (NYSE:LOW) also share data with law enforcement.

Portfolio Pulse from Hayden Buckfire

July 01, 2024 | 4:35 pm

IYW

MSFT

XLK

Microsoft Corp. (NASDAQ:MSFT) reported a breach by Russian state-sponsored hackers, affecting over a dozen Texas state agencies and public universities. The attack, linked to the group Midnight Blizzard, accessed emails but reportedly did not compromise sensitive information. Microsoft is working with affected customers to mitigate the impact.

Portfolio Pulse from Shivani Kumaresan

July 01, 2024 | 12:11 pm