Wall Street analysts are worried most about these stocks following the US crackdown on Huawei

The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Some adjusted their price targets while one analyst went even further and removed a buy rating. “Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.” Here are what analysts are saying about stocks downgraded on Huawei


The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Some adjusted their price targets while one analyst went even further and removed a buy rating. “Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.” Here are what analysts are saying about stocks downgraded on Huawei
Wall Street analysts are worried most about these stocks following the US crackdown on Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: michael bloom
Keywords: news, cnbc, companies, likely, revenue, price, street, went, wall, ban, huawei, following, crackdown, believe, skyworks, analyst, analysts, stocks, worried


Wall Street analysts are worried most about these stocks following the US crackdown on Huawei

A man walking past a Huawei P20 smartphone advertisement is reflected in a glass door in front of a Huawei logo, at a shopping mall in Shanghai, China December 6, 2018.

The ban on chipmakers selling to Huawei is having ramifications felt far and wide. Even as the U.S. government decided to delay imposing the restrictions by 90 days, that’s not stopping Wall Street analysts from handing out downgrades and urging clients to adjust their portfolios.

It’s also hurting the broader market. Tech is the worst-performing sector this month, sliding more than 5%.

While a few analysts remain hopeful for a resolution in the near-term, most weren’t taking their chances surrounding the overall uncertainty. Some adjusted their price targets while one analyst went even further and removed a buy rating.

Semiconductor companies Qorvo and Skyworks recently had their price targets reduced by analysts at Canaccord.

“Huawei accounted for 13% and 8% of Qorvo’s F’19 and F’18 revenue, respectively,” said analyst T. Michael Walkley. “We believe our estimate reductions will likely prove conservative, as we believe the ban will likely get resolved in the coming months.”

“Huawei is the third largest customer for Skyworks and accounted for 10% of the company’s F’17 revenue but below 10% for F’18, and we believe Huawei could represent roughly 10% of Skyworks revenue going forward should the ban get lifted due to improving 5G infrastructure demand,” Walkley said.

The collateral damage continued this week when telecommunications equipment company Lumentum cut earnings guidance.

“We think the negative revenue impact from lost Huawei sales will likely be higher in 1QFY20 than in 4QFY19 due to there being a full quarter of ban in place,” said MKM analyst Michael Genovese. He lowered his price target on the stock to $60 from $72.

One analyst was more succinct in his downgrade of electronic measurement company, Keysight Technologies.

“What’s bad for the U.S. tech Industry isn’t a positive for KEYS. China-related uncertainty may be an overhang on the shares in the near term,” said Baird analyst Richard Eastman who went from outperform to neutral on the stock.

Here are what analysts are saying about stocks downgraded on Huawei concerns:


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: michael bloom
Keywords: news, cnbc, companies, likely, revenue, price, street, went, wall, ban, huawei, following, crackdown, believe, skyworks, analyst, analysts, stocks, worried


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Stocks fall following a sell-off in the final hour on news US-China trade talks have stalled

Stocks closed lower on Friday after CNBC reported that trade talks between China and the U.S. have stalled. The Dow Jones Industrial Average ended the day down 98.68 points at 25,764 while the S&P 500 fell 0.6% to 2,859.53. The report sent the Dow back into negative territory in the final hour of trading, erasing a gain of about 30 points. Apple shares fell 0.6%, bringing its weekly losses to 4.1%. Shares of Huawei U.S. suppliers like Qualcomm, Qorvo and Micron Technology fell 1.6%, 6.1% and 3.4


Stocks closed lower on Friday after CNBC reported that trade talks between China and the U.S. have stalled. The Dow Jones Industrial Average ended the day down 98.68 points at 25,764 while the S&P 500 fell 0.6% to 2,859.53. The report sent the Dow back into negative territory in the final hour of trading, erasing a gain of about 30 points. Apple shares fell 0.6%, bringing its weekly losses to 4.1%. Shares of Huawei U.S. suppliers like Qualcomm, Qorvo and Micron Technology fell 1.6%, 6.1% and 3.4
Stocks fall following a sell-off in the final hour on news US-China trade talks have stalled Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: fred imbert, arjun kharpal
Keywords: news, cnbc, companies, fall, stalled, final, talks, stocks, uschina, trade, shares, week, chinese, china, weekly, worth, tom, selloff, hour, huawei, fell, following


Stocks fall following a sell-off in the final hour on news US-China trade talks have stalled

Stocks closed lower on Friday after CNBC reported that trade talks between China and the U.S. have stalled.

The Dow Jones Industrial Average ended the day down 98.68 points at 25,764 while the S&P 500 fell 0.6% to 2,859.53. The Nasdaq Composite was down 1% at 7,816.28. It was also the fourth straight weekly drop for the Dow.

Sources told CNBC’s Kayla Tausche that scheduling discussions for further trade talks have been put on hold since the Trump administration has increased scrutiny of Chinese telecom companies. A U.S. delegation had been invited to Beijing earlier this week.

The report sent the Dow back into negative territory in the final hour of trading, erasing a gain of about 30 points. The S&P 500 and Nasdaq were further knocked down.

Apple shares fell 0.6%, bringing its weekly losses to 4.1%. Caterpillar shares also closed lower.

Earlier this week, the administration made it harder for U.S. companies to do business with Huawei, a giant telecommunications company in China. U.S. firms that want to do business with Huawei must now have a license. Shares of Huawei U.S. suppliers like Qualcomm, Qorvo and Micron Technology fell 1.6%, 6.1% and 3.4%, respectively.

“Through any lens, this is a broadside against the Chinese government, which is generally considered to be the beneficial owner of Huawei,” said Tom Essaye, founder of The Sevens Report, in a note. “This obviously ups the ante in the US-China trade war as the stakes are growing. At this point, it’s unclear how China will respond, but some sort of response is expected.”

China has also ratcheted up its rhetoric on trade with the U.S.

Chinese Commerce Ministry spokesman Gao Feng said Thursday, according to state-run news agency Xinhua, that the U.S. is exhibiting “bullying behavior” with its latest moves on the trade front, noting it is “regrettable that the U.S. side unilaterally escalated trade disputes, which resulted in severe negotiating setbacks.”

The U.S. hiked tariffs on $200 billion worth of Chinese goods last week while China retaliated Monday with higher levies on $60 billion worth of U.S. products.

“People are now coming to grips with the fact that this is going to take a long time,” said Tom Martin, senior portfolio manager at Globalt. “I think we’re going to get more volatility, but generally it makes sense for the market to be where it is right now.”


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: fred imbert, arjun kharpal
Keywords: news, cnbc, companies, fall, stalled, final, talks, stocks, uschina, trade, shares, week, chinese, china, weekly, worth, tom, selloff, hour, huawei, fell, following


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Health tech start-up uBiome suspends clinical operations following FBI raid

In an email to its customers, uBiome, a start-up that sells health tests, said on Monday that it is suspending clinical operations for its health tests, including SmartGut and SmartJane. Any recent SmartGut or SmartJane tests will be cancelled, and payments for any out-of-pocket tests will be refunded, it said. The board also said that it would launch an independent investigation into uBiome’s billing practices. We look forward to continuing to demonstrate this clinical utility and value. We wil


In an email to its customers, uBiome, a start-up that sells health tests, said on Monday that it is suspending clinical operations for its health tests, including SmartGut and SmartJane. Any recent SmartGut or SmartJane tests will be cancelled, and payments for any out-of-pocket tests will be refunded, it said. The board also said that it would launch an independent investigation into uBiome’s billing practices. We look forward to continuing to demonstrate this clinical utility and value. We wil
Health tech start-up uBiome suspends clinical operations following FBI raid Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: christina farr angelica lavito, christina farr, angelica lavito
Keywords: news, cnbc, companies, suspends, utility, startup, health, smartgut, operations, billing, following, ubiomes, smartjane, clinical, tests, raid, value, ubiome, fbi, tech, company


Health tech start-up uBiome suspends clinical operations following FBI raid

In an email to its customers, uBiome, a start-up that sells health tests, said on Monday that it is suspending clinical operations for its health tests, including SmartGut and SmartJane.

That decision follows the news that the FBI searched the company’s San Francisco offices as part of an ongoing investigation into the start-up’s billing practices.

The company noted that it would continue to sell its direct-to-consumer product, Explorer. Any recent SmartGut or SmartJane tests will be cancelled, and payments for any out-of-pocket tests will be refunded, it said.

In the months before the FBI search, the company would often bill insurance multiple times for its tests without patient consent, insiders told CNBC. In an interview, one customer, Marc Harris, told CNBC that he sent in two samples, but the $2,970 test was billed to his insurance five times.

The company’s founders, Jessica Richman and Zac Apte, are on “administrative leave,” the company announced last week, and John Rakow, its general counsel, was named interim CEO. The board also said that it would launch an independent investigation into uBiome’s billing practices.

UBiome declined to comment on the email.

Here’s the full email, obtained by CNBC:

On Friday, April 26, 2019, federal authorities, pursuant to a search warrant, searched uBiome’s facilities in San Francisco. We are cooperating fully with federal authorities on this matter. Our Board of Directors has appointed John Rakow, our General Counsel, as Interim CEO of uBiome, effective immediately. Our Co-CEOs, Jessica Richman and Zac Apte, are currently on administrative leave as we conduct an independent investigation into the company’s billing practices, to be overseen by a Special Committee of the Board. Once complete, we will take any corrective actions that are needed to ensure we can become a stronger company better able to serve patients and healthcare providers. We will also be temporarily suspending clinical operations. At this time and until further notice, uBiome will not be offering SmartGut or SmartJane. We will continue to offer and process our Explorer product. It is important to reiterate that this is a suspension. This does not mean we will not offer clinical products in the future, nor does this insinuate a lack of value or utility in our products. There is significant clinical evidence that demonstrates the utility and value of uBiome’s products as important tools for patients, healthcare providers, and our commercial partners. We look forward to continuing to demonstrate this clinical utility and value. Any SmartGut or SmartJane request or order that is pending on your account has been canceled. If you made any out of pocket payment upfront, this will be refunded to you within 3-5 business days. We will not be releasing clinical reports, processing samples, billing health insurance, or shipping new collections kits, at this time. If you would prefer that any of your pending samples be destroyed, simply reply to this email. Our team will ensure this is taken care of for you expeditiously.

WATCH: How Theranos founder Elizabeth Holmes became a master of deception


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: christina farr angelica lavito, christina farr, angelica lavito
Keywords: news, cnbc, companies, suspends, utility, startup, health, smartgut, operations, billing, following, ubiomes, smartjane, clinical, tests, raid, value, ubiome, fbi, tech, company


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Bank of England ups growth forecasts and holds rates following Brexit delay

The Bank of England (BOE) held interest rates steady on Thursday following the agreement to extend the deadline for the U.K.’s withdrawal from the European Union until October. The nine-member Monetary Policy Committee (MPC), led by Governor Mark Carney, voted unanimously to keep interest rates unchanged at 0.75%. This was the first meeting of the MPC since Prime Minister Theresa May and EU leaders agreed to the Brexit extension. The BOE also cited better than expected growth in the U.S., euro z


The Bank of England (BOE) held interest rates steady on Thursday following the agreement to extend the deadline for the U.K.’s withdrawal from the European Union until October. The nine-member Monetary Policy Committee (MPC), led by Governor Mark Carney, voted unanimously to keep interest rates unchanged at 0.75%. This was the first meeting of the MPC since Prime Minister Theresa May and EU leaders agreed to the Brexit extension. The BOE also cited better than expected growth in the U.S., euro z
Bank of England ups growth forecasts and holds rates following Brexit delay Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: elliot smith
Keywords: news, cnbc, companies, following, interest, delay, forecast, ups, bank, stock, rates, withdrawal, holds, england, billion, forecasts, unanimously, brexit, growth, voted


Bank of England ups growth forecasts and holds rates following Brexit delay

The Bank of England (BOE) held interest rates steady on Thursday following the agreement to extend the deadline for the U.K.’s withdrawal from the European Union until October.

The nine-member Monetary Policy Committee (MPC), led by Governor Mark Carney, voted unanimously to keep interest rates unchanged at 0.75%.

This was the first meeting of the MPC since Prime Minister Theresa May and EU leaders agreed to the Brexit extension.

The central bank revised up its 2019 growth forecast to 1.5% from 1.2%, as first-quarter GDP growth is expected to have picked up to 0.5%, from 0.2% in the fourth quarter of 2018, stronger than projected in its February report.

The BOE also cited better than expected growth in the U.S., euro zone and China as contributing to its more optimistic outlook.

In a press conference following the announcement, Carney reiterated that interest rates may have to increase faster than the market currently expects over the forecast horizon.

“If the world unfolds broadly as consistent with this forecast, then it will require greater withdrawal of monetary stimulus than is currently implied — it just didn’t require it at this meeting,” he said.

The BOE’s committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion ($13 billion), and to maintain the stock of U.K. government bond purchases at £435 billion.


Company: cnbc, Activity: cnbc, Date: 2019-05-02  Authors: elliot smith
Keywords: news, cnbc, companies, following, interest, delay, forecast, ups, bank, stock, rates, withdrawal, holds, england, billion, forecasts, unanimously, brexit, growth, voted


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Teen suicides spiked month after Netflix’s drama ’13 Reasons Why’ premiered, new research shows

Suicide rates for teens saw a sharp increase in the month following the release of the Netflix drama “13 Reasons Why,” according to a study published Monday. “13 Reasons Why,” based on a 2007 novel of the same name by author Jay Asher, follows a 17-year-old high school student whose friend kills herself after facing bullying and sexual assault. Researchers at the Nationwide Children’s Hospital analyzed monthly rates of suicides among individuals ages 10 to 64 between Jan. 1, 2013, and Dec. 31, 2


Suicide rates for teens saw a sharp increase in the month following the release of the Netflix drama “13 Reasons Why,” according to a study published Monday. “13 Reasons Why,” based on a 2007 novel of the same name by author Jay Asher, follows a 17-year-old high school student whose friend kills herself after facing bullying and sexual assault. Researchers at the Nationwide Children’s Hospital analyzed monthly rates of suicides among individuals ages 10 to 64 between Jan. 1, 2013, and Dec. 31, 2
Teen suicides spiked month after Netflix’s drama ’13 Reasons Why’ premiered, new research shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, teen, 2017, drama, netflixs, rates, published, suicides, shows, spiked, month, following, release, premiered, suicide, reasons, study, research


Teen suicides spiked month after Netflix's drama '13 Reasons Why' premiered, new research shows

Suicide rates for teens saw a sharp increase in the month following the release of the Netflix drama “13 Reasons Why,” according to a study published Monday.

“13 Reasons Why,” based on a 2007 novel of the same name by author Jay Asher, follows a 17-year-old high school student whose friend kills herself after facing bullying and sexual assault.

Researchers at the Nationwide Children’s Hospital analyzed monthly rates of suicides among individuals ages 10 to 64 between Jan. 1, 2013, and Dec. 31, 2017. They said April 2017, the month after the Season One premiere of “13 Reasons Why,” had the highest suicide rate among ages 10 to 17, increasing by 28.9%.

The study, published in the peer-reviewed Journal of the American Academy of Child & Adolescent Psychiatry, also found that there were about 195 more youth suicides than expected in the nine months following the March 31, 2017 release.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, teen, 2017, drama, netflixs, rates, published, suicides, shows, spiked, month, following, release, premiered, suicide, reasons, study, research


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New York attorney general to probe Facebook

The New York state attorney general’s office on Thursday announced plans to open an investigation into Facebook’s improper collection of users’ contact lists. New York Attorney General Letitia James on Thursday tweeted that “It’s time Facebook be held accountable for how it handles consumers’ personal info.” The New York attorney general’s office’s investigation will focus on how this practice occurred and whether more users were impacted, according to the Thursday report. The FTC has been probi


The New York state attorney general’s office on Thursday announced plans to open an investigation into Facebook’s improper collection of users’ contact lists. New York Attorney General Letitia James on Thursday tweeted that “It’s time Facebook be held accountable for how it handles consumers’ personal info.” The New York attorney general’s office’s investigation will focus on how this practice occurred and whether more users were impacted, according to the Thursday report. The FTC has been probi
New York attorney general to probe Facebook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: salvador rodriguez, shu zhang
Keywords: news, cnbc, companies, generals, york, attorney, probe, general, data, users, report, million, following, facebook, investigation


New York attorney general to probe Facebook

The New York state attorney general’s office on Thursday announced plans to open an investigation into Facebook’s improper collection of users’ contact lists.

New York Attorney General Letitia James on Thursday tweeted that “It’s time Facebook be held accountable for how it handles consumers’ personal info.” The investigation was first reported by the New York Times.

Since 2016, Facebook collected the address book data of 1.5 million users whom were asked to enter their email passwords when signing up for new accounts to verify their identities, according to a Business Insider report earlier this month. The company said it had “unintentionally uploaded” that data.

The New York attorney general’s office’s investigation will focus on how this practice occurred and whether more users were impacted, according to the Thursday report.

This news comes a day after Facebook took a one-time $3 billion charge in anticipation of a possible fine from the Federal Trade Commission. Facebook warned the actual charge could be as much as $5 billion. The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 million Facebook users.

Facebook did not responded to a request for comment.

Shares were unchanged after hours, after rising nearly 6%% during the day following a blowout earnings report on Wednesday.

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: salvador rodriguez, shu zhang
Keywords: news, cnbc, companies, generals, york, attorney, probe, general, data, users, report, million, following, facebook, investigation


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Amazon is trying to soften its image as regulatory scrutiny of Big Tech grows

But rather than fiercely fighting every battle, Amazon looks like its ready to play nice. In March, Amazon dropped a policy that prevented merchants from offering lower prices on other websites following an investigation request by Sen. Richard Blumenthal (D-Conn.). Last month, the company scaled back some of its most aggressive promotion tactics after Sen. Elizabeth Warren (D-Mass.) And late last year Amazon raised its minimum wage to $15 following criticism of the company’s working conditions


But rather than fiercely fighting every battle, Amazon looks like its ready to play nice. In March, Amazon dropped a policy that prevented merchants from offering lower prices on other websites following an investigation request by Sen. Richard Blumenthal (D-Conn.). Last month, the company scaled back some of its most aggressive promotion tactics after Sen. Elizabeth Warren (D-Mass.) And late last year Amazon raised its minimum wage to $15 following criticism of the company’s working conditions
Amazon is trying to soften its image as regulatory scrutiny of Big Tech grows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: eugene kim, brent lewis, denver post, getty images, david ryder
Keywords: news, cnbc, companies, big, growing, tech, soften, sen, stores, scrutiny, amazon, trying, business, winatallcost, regulatory, image, following, working, looks, grows, company


Amazon is trying to soften its image as regulatory scrutiny of Big Tech grows

Amazon’s relentless pursuit of growth in retail, cloud computing, advertising and consumer devices has put the company squarely in the sights of Washington lawmakers who are concerned about Big Tech’s growing influence over consumers. But rather than fiercely fighting every battle, Amazon looks like its ready to play nice.

In March, Amazon dropped a policy that prevented merchants from offering lower prices on other websites following an investigation request by Sen. Richard Blumenthal (D-Conn.). Last month, the company scaled back some of its most aggressive promotion tactics after Sen. Elizabeth Warren (D-Mass.) called out abusive business practices. And late last year Amazon raised its minimum wage to $15 following criticism of the company’s working conditions by Sen. Bernie Sanders (D-VT).

Amazon also confirmed to CNBC that it would soon start accepting cash at the Amazon Go cashierless stores as a growing number of cities and states push for laws that require all stores to serve the unbanked. It’s all part of a strategy to be more likable at a time when tech companies are drawing heat for behavior that looks increasingly anti-competitive.

“I believe Amazon has made the connection between likability and immunity from regulation,” said NYU business professor Scott Galloway, author of “The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google.”

This is a different company from the vigorously defensive, win-at-all-cost Amazon we’re used to seeing.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: eugene kim, brent lewis, denver post, getty images, david ryder
Keywords: news, cnbc, companies, big, growing, tech, soften, sen, stores, scrutiny, amazon, trying, business, winatallcost, regulatory, image, following, working, looks, grows, company


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Leadership turnover at DHS and Secret Service could hurt US cybersecurity plans

The U.S. Secret Service investigates a significant portion of the country’s private-sector cyberthreats — with remit over all of those that involve financial fraud. Both are facing abrupt leadership vacuums following the resignations of DHS Secretary Kirstjen Nielsen and Secret Service Director Randolph “Tex” Alles. The moves echo similar turmoil at the FBI, which has also seen the departure of several top cybersecurity leaders following the exit of former Director James Comey. The departure als


The U.S. Secret Service investigates a significant portion of the country’s private-sector cyberthreats — with remit over all of those that involve financial fraud. Both are facing abrupt leadership vacuums following the resignations of DHS Secretary Kirstjen Nielsen and Secret Service Director Randolph “Tex” Alles. The moves echo similar turmoil at the FBI, which has also seen the departure of several top cybersecurity leaders following the exit of former Director James Comey. The departure als
Leadership turnover at DHS and Secret Service could hurt US cybersecurity plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: kate fazzini, andrew caballero-reynolds, afp, getty images
Keywords: news, cnbc, companies, leadership, hurt, cybersecurity, secret, security, following, dhs, significant, turnover, financial, plans, fbi, service, privatesector


Leadership turnover at DHS and Secret Service could hurt US cybersecurity plans

The Department of Homeland Security is charged with supporting all of the designated “critical infrastructure” cybersecurity functions in the U.S., from financial services to electricity, nuclear and water facilities. The U.S. Secret Service investigates a significant portion of the country’s private-sector cyberthreats — with remit over all of those that involve financial fraud.

Both are facing abrupt leadership vacuums following the resignations of DHS Secretary Kirstjen Nielsen and Secret Service Director Randolph “Tex” Alles. The moves echo similar turmoil at the FBI, which has also seen the departure of several top cybersecurity leaders following the exit of former Director James Comey.

The departures could create greater weaknesses in the government’s ability to respond to cyberthreats, as agencies already faced with a shortfall of qualified candidates for entry- and mid-level cybersecurity jobs now will have to contend with significant top-level leadership shifts involving the same functions.

The departure also comes as the U.S. is trying to unite its private-sector and government security efforts into a more streamlined approach. The lynchpins for this effort are DHS, the Secret Service and the FBI.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: kate fazzini, andrew caballero-reynolds, afp, getty images
Keywords: news, cnbc, companies, leadership, hurt, cybersecurity, secret, security, following, dhs, significant, turnover, financial, plans, fbi, service, privatesector


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Leadership turnover at DHS and Secret Service could hurt US cybersecurity plans

The U.S. Secret Service investigates a significant portion of the country’s private-sector cyberthreats — with remit over all of those that involve financial fraud. Both are facing abrupt leadership vacuums following the resignations of DHS Secretary Kirstjen Nielsen and Secret Service Director Randolph “Tex” Alles. The moves echo similar turmoil at the FBI, which has also seen the departure of several top cybersecurity leaders following the exit of former Director James Comey. The departure als


The U.S. Secret Service investigates a significant portion of the country’s private-sector cyberthreats — with remit over all of those that involve financial fraud. Both are facing abrupt leadership vacuums following the resignations of DHS Secretary Kirstjen Nielsen and Secret Service Director Randolph “Tex” Alles. The moves echo similar turmoil at the FBI, which has also seen the departure of several top cybersecurity leaders following the exit of former Director James Comey. The departure als
Leadership turnover at DHS and Secret Service could hurt US cybersecurity plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: kate fazzini, andrew caballero-reynolds, afp, getty images
Keywords: news, cnbc, companies, dhs, plans, leadership, financial, cybersecurity, security, fbi, service, hurt, following, secret, significant, turnover, privatesector


Leadership turnover at DHS and Secret Service could hurt US cybersecurity plans

The Department of Homeland Security is charged with supporting all of the designated “critical infrastructure” cybersecurity functions in the U.S., from financial services to electricity, nuclear and water facilities. The U.S. Secret Service investigates a significant portion of the country’s private-sector cyberthreats — with remit over all of those that involve financial fraud.

Both are facing abrupt leadership vacuums following the resignations of DHS Secretary Kirstjen Nielsen and Secret Service Director Randolph “Tex” Alles. The moves echo similar turmoil at the FBI, which has also seen the departure of several top cybersecurity leaders following the exit of former Director James Comey.

The departures could create greater weaknesses in the government’s ability to respond to cyberthreats, as agencies already faced with a shortfall of qualified candidates for entry- and mid-level cybersecurity jobs now will have to contend with significant top-level leadership shifts involving the same functions.

The departure also comes as the U.S. is trying to unite its private-sector and government security efforts into a more streamlined approach. The lynchpins for this effort are DHS, the Secret Service and the FBI.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: kate fazzini, andrew caballero-reynolds, afp, getty images
Keywords: news, cnbc, companies, dhs, plans, leadership, financial, cybersecurity, security, fbi, service, hurt, following, secret, significant, turnover, privatesector


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Stocks in Asia jump following better-than-expected Chinese economic data

Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March. Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analys


Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March. Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analys
Stocks in Asia jump following better-than-expected Chinese economic data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, weizhen tan
Keywords: news, cnbc, companies, stock, saw, shares, japan, bank, unexpectedly, surged, data, chinese, stocks, asia, index, following, released, jump, shenzhen, betterthanexpected, economic


Stocks in Asia jump following better-than-expected Chinese economic data

Major markets in Asia surged on Monday following data released over the weekend that showed economic activity in China unexpectedly bouncing back in March.

Mainland Chinese shares soared on the day, with the Shanghai composite up 2.58 percent to 3,170.36, while the Shenzhen component surged about 3.64 percent to 10,267.70. The Shenzhen composite jumped 3.571 percent to 1,755.67.

Over in Hong Kong, the Hang Seng index was up 1.66 percent in its final hour of trading.

Both the private Caixin/Markit Manufacturing Purchasing Managers’ Index and China’s official Purchasing Managers’ Index (PMI) expanded unexpectedly in March, surprising analysts.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.94 percent, as of 3:18 p.m. HK/SIN

The Nikkei 225 in Japan jumped 1.43 percent to close at 21,509.03 as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all advanced. The Topix index also gained 1.52 percent to finish at 1,615.81.

Apple supplier Japan Display saw its stock surge 10.14 percent after the embattled company said it aimed to reach a financing agreement this week that would lead to a 60 to 80 billion yen (approx. $540 to $720 million) stock and bond issuance. Previous reports in January had suggested that Japan Display — suffering the impact of disappointing sales for Apple’s iPhone XR — was in advanced talks with an investor group from Taiwan and China to bail out the company.

The closely watched “tankan” survey by the Bank of Japan, released on Monday, had shown worsening business confidence among the country’s big manufacturers in the first quarter.

“The large manufacturing weakness is probably worrying for (the Bank of Japan) … in the sense that the economy isn’t picking up as quickly as perhaps as had been anticipated but the bigger issue … is not the economy,” Mitul Kotecha, senior emerging markets strategist at TD Securities, told CNBC’s “Squawk Box” on Monday.

Instead, Kotecha said inflation continues to be a bugbear for the Japanese central bank, where its target rate of 2 percent remains ever elusive.

Over in South Korea, the Kospi added 1.29 percent to finish at 2,168.28 as chipmaker SK Hynix saw its stock jump 3.23 percent.

Meanwhile, Australia’s ASX 200 rose 0.59 percent to close at 6,217.00, with most sectors seeing gains.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: eustance huang, weizhen tan
Keywords: news, cnbc, companies, stock, saw, shares, japan, bank, unexpectedly, surged, data, chinese, stocks, asia, index, following, released, jump, shenzhen, betterthanexpected, economic


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