Streetbeat News

Security

CDK

PAG

SAH

CDK Global, a SaaS provider for car dealerships, has been hit by the BlackSuit ransomware gang, causing significant IT outages. This has disrupted operations for dealerships across North America, including Penske Automotive Group and Sonic Automotive. CDK is negotiating with the attackers to secure a decryptor and prevent data leaks.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 3:07 pm

IDAI

Trust Stamp (NASDAQ:IDAI) has filed a provisional patent for a new methodology to detect injection attacks in biometric authentication processes, including those using deep fake images and videos.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:31 pm

LAD

Lithia Motors received notice from CDK Global about a cybersecurity incident that led to the suspension of systems. This incident has negatively impacted Lithia Motors' business operations and is expected to continue doing so. No compromise or unauthorized access of systems or networks has been identified.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 1:18 pm

ADTN

IRDM

Adtran and Iridium have announced the launch of their solutions featuring Iridium STL technology in Europe and Asia-Pacific. Adtran's Oscilloquartz solutions now support Iridium STL services, providing precise and secure timing via low-Earth orbit satellites. This is particularly important as cyber threats to GNSS grow, offering a robust alternative for 5G mobile operators and the defense sector.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 12:06 pm

AN

CDK

AutoNation was notified by CDK Global of a cyber incident affecting its dealer management system. AutoNation has taken precautionary steps and is reviewing the impact.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 11:07 am

GPI

Group 1 Automotive (NYSE:GPI) has activated its cyber incident response procedures following a cybersecurity incident at third-party software provider CDK Global. The incident has disrupted Group 1's U.S. operations that rely on CDK's systems. Group 1's U.K. operations remain unaffected. CDK anticipates restoring its dealer management system within several days.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 10:17 am

META

SQ

Jack Dorsey, CEO of Block Inc. (NYSE:SQ) and co-founder of Twitter, warned about the future challenges of distinguishing reality from deepfakes. He emphasized the need for personal verification of information. Elon Musk responded by questioning if we are already living in a simulated reality. The rise of AI and deepfakes has raised concerns about misinformation, with companies like Meta Platforms Inc. (META) addressing AI-generated fake news.

Portfolio Pulse from Ananya Gairola

June 24, 2024 | 7:09 am

CDK

SAH

Sonic Automotive (SAH) reported that CDK Global (CDK) has notified its dealership customers about a suspension of some systems due to a cybersecurity incident. This has caused disruptions to Sonic Automotive's dealer management system hosted by CDK.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 8:14 pm

AMD

CIBR

HACK

SNOW

Cyberattacks have disrupted services for approximately 15,000 car dealerships using CDK Global's platform, causing significant operational challenges. The outages are expected to last several days, impacting dealership profits during the busy summer season. Similar cyberattacks have affected companies like AMD and Snowflake. Cybersecurity ETFs such as HACK and CIBR have posted losses recently.

Portfolio Pulse from Hayden Buckfire

June 21, 2024 | 4:43 pm

BA

Boeing Co (NYSE:BA) has been approved by the U.S. Department of Justice to avoid criminal prosecution for breaching a 2021 settlement related to its 737 Max 8 model. Instead, Boeing will enter a deferred prosecution agreement, requiring the appointment of a federal monitor to oversee safety enhancements. This decision follows allegations that Boeing failed to establish a program to detect and prevent violations of U.S. anti-fraud laws. The news comes amid ongoing scrutiny of Boeing's safety practices and criticism from families of crash victims.

Portfolio Pulse from Nabaparna Bhattacharya

June 21, 2024 | 4:26 pm