Streetbeat News

Security

VFC

V.F. Corporation (NYSE:VFC) stock is trading higher, recovering from a recent sell-off. The sell-off followed a mixed Q2 earnings report and a cyberattack announcement. The stock's rebound is attributed to a higher low uptrend since mid-November, positive October CPI data, a JP Morgan upgrade with a price increase, and the Fed's decision to leave rates unchanged. VFC hit a three-month high last Thursday before the sell-off, but shares have now recovered by nearly 7%.

Portfolio Pulse from Ryan Gustafson

December 21, 2023 | 8:51 pm

CSCO

Cisco Systems, Inc. (NASDAQ:CSCO) announced its intention to acquire Isovalent, Inc., a cloud-native networking and security company. This acquisition is aimed at enhancing Cisco's Security Cloud vision, which is an AI-driven, cloud-delivered, integrated security platform suitable for organizations of all sizes. Isovalent is a key contributor to eBPF and the development of Cilium, a leading solution for cloud-native networking and security. The Isovalent team will join Cisco's Security Business Group after the acquisition, expected to be completed in the third quarter of fiscal year 2024. Cisco's stock was trading down by 0.69% to $49.46 at the last check on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

December 21, 2023 | 7:20 pm

ADI

TXN

Texas Instruments (NASDAQ:TXN) and Analog Devices (NASDAQ:ADI) are implicated in a Bloomberg report for allegedly having their semiconductor chips reach Russian military-linked entities in 2023, despite U.S. export restrictions. The chips were shipped via Hong Kong, with over 17,000 Texas Instruments chips valued at $25 million delivered to Russian businesses, including some under U.S. sanctions. Both companies assert they ceased business with Russia in 2022 and oppose the use of their products in Russian military equipment. On the last check Friday, ADI shares rose by 2.09% to $196.22, and TXN shares increased by 1.35% to $167.38.

Portfolio Pulse from Nabaparna Bhattacharya

December 21, 2023 | 5:45 pm

FAF

First American Financial Corporation (NYSE:FAF) reported a cybersecurity incident, leading to certain systems being taken offline. The company is actively working to restore normal business operations and directs stakeholders to FirstAmUpdate.com for updates.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 5:07 pm

VGK

A mass shooting at Charles University's Faculty of Arts in Prague resulted in 10 deaths and dozens of injuries. The shooter was killed by police following the incident.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 4:32 pm

CRWD

On CNBC, CrowdStrike CEO George Kurtz highlighted the potential dangers associated with the use of artificial intelligence (AI). Kurtz's discussion on AI risks may raise awareness about cybersecurity threats and the importance of robust AI security measures. This could potentially affect CrowdStrike's business as it underscores the need for advanced cybersecurity solutions that the company provides.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 4:23 pm

AAPL

GOOG

GOOGL

Apple Inc. (AAPL) and Alphabet Inc.'s Google (GOOG, GOOGL) are set to introduce a collaborative solution for detecting unknown trackers, following the release of an industry-wide specification by the Internet Engineering Task Force. The technology will be platform-agnostic and support Bluetooth trackers from various manufacturers. Google has already implemented a preliminary method, while Apple is expected to launch its version soon, with full features anticipated in 2024. This initiative addresses privacy concerns raised by the misuse of Bluetooth trackers, such as Apple's AirTags.

Portfolio Pulse from Benzinga Neuro

December 21, 2023 | 1:57 pm

NORW

TSLA

Norway's safety regulator has initiated an inquiry into Tesla regarding suspension failures in its Model S and X vehicles. This investigation could potentially lead to a recall if the issues are deemed significant enough to affect vehicle safety.

Portfolio Pulse from Charles Gross

December 21, 2023 | 10:13 am

META

The Stanford Internet Observatory discovered over 3,200 images of suspected child abuse in the LAION database, which is used to train AI image-generators like Stable Diffusion. LAION has temporarily withdrawn its datasets in response to the report. The study calls for tech companies to implement more thorough scrutiny and ethical guidelines in AI deployment to prevent misuse and protect vulnerable communities. Meta Platforms Inc. was mentioned in relation to past AI misuse with Facebook Messenger's AI stickers.

Portfolio Pulse from Rounak Jain

December 21, 2023 | 9:34 am

CDNS

SNPS

Senator Marco Rubio is pushing for sanctions against Brite Semiconductor, a Chinese chip design company with ties to China's military suppliers and part-owned by SMIC, which is already under U.S. restrictions. Rubio's letter highlights Brite's use of U.S. technology and investment, including software from American companies Synopsys Inc (SNPS) and Cadence Design Systems Inc (CDNS), and calls for action to prevent China's technological advancement. Other legislators and investors, such as Norwest Venture Partners backed by Wells Fargo, are also scrutinized for their involvement with Brite.

Portfolio Pulse from Benzinga Neuro

December 21, 2023 | 8:37 am