‘WannaCry’ ransomware attack prompts investor search for safety, sending cybersecurity stocks higher
The massive attack of the ‘WannaCry’ ransomware virus that infected computers around the world prompted a Monday surge in cybersecurity stocks as investors sought safety.
Although the attack appeared to slow as the work week opened, investors reacted as a few major companies reported new computer problems potentially related to the outbreak that began Friday. The malware affected computers in at least 150 countries, according to a report by the European Union’s Europol law enforcement agency.
The attack chiefly struck computers in Europe and Asia, largely sparing North America. The WannaCry virus spreads among computers running on Microsoft’s Windows operating systems, infecting and then locking individual machines. Affected users receive an electronic message demanding a ransom to be paid in the electronic currency called Bitcoin.
Electronics giant Hitachi (HTHIY) said the Japanese company’s computer systems had difficulties sending and receiving emails and opening attached files, problems that corporate officials said were believed to be related to the attack. However, the problems had not hurt Hitachi’s business operations.
In the wake of the attacks, the PureFunds ISE Cyber Security exchange traded fund (HACK) closed 3.2% higher at $30.69 a share Monday.
Shares of Palo Alto Networks (PANW) , a Santa Clara-Cal.-based company with security platforms aimed at limiting cybersecurity risk, similarly ended the day up 2.7% higher at $119.61.
Symantec (SYMC) , a global security and information management company headquartered in Mountain View, Cal., closed at $32 a share, 3.2% higher.
Shares of Cisco Systems (CSCO) , a San Jose-based company that develops and markets electronic networking hardware, closed up 2.3% at $34.23.
Fortinet (FTNT) , a Sunnyvale, Cal. firm that provides network and content security, along with secure access products, finished the day 3.4% higher at $40.45 a share.
Shares of Proofpoint (PFPT) , a Sunnyvale, Cal. company with products that help protect against cyber threats and compliance risk, closed nearly 7.4% higher at $86.05.
Meanwhile, Microsoft (MSFT) shares closed fractionally higher at $68.43. Brad Smith, the company’s president and chief legal officer, said in a Sunday blog post that The Redmond, Wash.-based tech giant was working to contain the attack. The effort included aiding users of older Microsoft systems no longer supported by the company, he wrote.
Follow USA TODAY reporter Kevin McCoy on Twitter: @kmccoynyc
