FireEye Inc., Symantec Corp. and other cybersecurity stocks jumped Monday as a global computer hacking attack entered its third day, suggesting higher corporate and government spending on their technology will follow. Palo Alto Networks Inc., Check Point Software Technologies Ltd., Cisco…
FireEye Inc., Symantec Corp. and other cybersecurity stocks jumped Monday as a global computer hacking attack entered its third day, suggesting higher corporate and government spending on their technology will follow.
FireEye, the Milpitas cybersecurity company, closed up 7.5 percent at $15.90 Monday; Sunnyvale’s Proofpoint was up 7.4 percent at $86.05; and Mountain View’s Symantec was up 3.2 percent at $32. Palo Alto Networks Inc., Check Point Software Technologies Ltd., Cisco Systems Inc. and Oracle Corp. are also likely to benefit, according to analysts.
Just last week, Symantec reported revenue forecasts for the current quarter that missed analysts’ estimates. It has been struggling with falling sales of its Norton antivirus to consumers.
The California Chamber of Commerce has not finished fighting the state’s cap-and-trade system.
The chamber on Monday asked the California Supreme Court to overturn an appeals court ruling that the system, a linchpin of the state’s fight against global warming, does not constitute an illegal tax.
Under cap and trade, the state sets an annual limit on greenhouse gas emissions, allowing fewer emissions each year. Businesses must obtain a permit, called an allowance, for each metric ton of greenhouse gases that they emit. The state sells allowances in quarterly auctions, and companies can also buy and sell allowances among themselves.
The chamber’s lawsuit argues that the allowances are a tax that did not receive two-thirds approval in the state legislature, as required by Proposition 13. An appeals court in April disagreed, with two of the three judges finding the allowances lacked key characteristics of a tax.
Toshiba, whose U. S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a $8.4 billion net loss for the fiscal year ended March.
Toshiba, whose products include computer chips and household appliances, acquired Westinghouse in 2006. The company called the results released Monday projections, rather than results, since they lack auditors’ approval.
The loss was about double the $4.1 billion loss racked up the previous fiscal year.
Its president, Satoshi Tsunakawa, has recently said the strategy based on Westinghouse was a mistake, and has promised it won’ t take on new nuclear projects. Costs in the nuclear industry have ballooned since the March 2011 tsunami in northeastern Japan, when three reactors at the Fukushima Dai-ichi nuclear plant sank into meltdowns, and stricter safeguards are required to operate and build reactors.
Toshiba has been trying to sell its computer-chip business to shore up its finances, but has become embroiled in a dispute with U. S. joint venture partner Western Digital, which is demanding that Toshiba not sell it to anyone else.
Have real-life pirates taken aim at Disney?
Walt Disney CEO Bob Iger revealed Monday that hackers claiming to have access to a Disney movie are demanding a ransom. Iger didn’ t disclose the name of the film, but said Disney isn’ t paying. The company is working with federal investigators.
Iger’s comments came during a town hall meeting with ABC employees in New York City, according to multiple sources.
Disney’s upcoming theatrical release slate include “Pirates of the Caribbean: Dead Men Tell No Tales, ” which opens this May 19, and “Cars 3” (June 16) . Rumors circulated online last week that a work print of “Star Wars: The Last Jedi” had been pirated and was being held for ransom, but days later online chatter tipped that as a hoax. The studio had no comment.
Several Hollywood agencies have also been targeted by hackers with extortion plots in recent months, including UTA, ICM and WME.
The maker of Budweiser, facing more competition in America from craft brews and cocktails, is spending billions to fight back.
Anheuser-Busch InBev will spend $2 billion over three years to bolster its flagship brands and improve distribution. The money will also support the company’s forays into “near beer, ” alcoholic sparkling water, and other products like tea.
The investment is a bet that Anheuser-Busch can push into new categories without neglecting its core business of traditional beer brands. Striking that balance will be key to the company’s future, Anheuser-Busch Chief Executive Officer Joao Castro Neves said in an interview.
Chronicle News Services
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