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Ransomware Rumpus: ICBC’s U.S. Arm Takes a Hit in Treasury Market

A nefarious ransomware attack set its sights on the U.S. division of Industrial and Commercial Bank of China (ICBC), causing a stir in the U.S. Treasury market on Thursday. Despite the chaos, market sources downplayed the impact, painting it as a minor blip on the radar.

In a candid statement, ICBC Financial Services admitted that the ransomware attack mucked up certain systems, triggering an investigation and a hustle to reboot operations.

The silver lining? ICBC assured the successful clearance of Treasury trades from the day before and repo financing deals done amidst the chaos.

Ransomware attacks, the pesky scourge of cyber chaos, involve hackers encrypting systems and holding them hostage until a handsome ransom is paid. As for the culprits behind this caper, the jury’s still out on who pulled off this digital heist.

Bloomberg’s gossip column later hinted at a notorious cyber bandit gang called Lockbit, allegedly linked to Russia, as the potential masterminds behind the scene, as per chatty insiders.

While ransomware rackets have been on a joyride across various sectors lately, their grand entrance into a major financial market like the U.S. Treasury is quite the showstopper. It’s likely to spark some soul-searching among market players about their cyber fortifications and might just draw the prying eyes of regulators.

The Trade Desk, Unity Software plunge on guidance issues

The Trade Desk Inc . (NASDAQ:TTD) 30% LOWER; reported Q3 EPS of $0.33, $0.04 better than the analyst estimate of $0.29. Revenue for the quarter came in at $493 million versus the consensus estimate of $486.9 million. The Trade Desk Inc. sees Q4 2023 revenue of at least $580 million, versus the consensus of $610.2 million.

Doximity, Inc. (DOCS) 24% HIGHER; reported Q2 EPS of $0.22, $0.05 better than the analyst estimate of $0.17. Revenue for the quarter came in at $113.6 million versus the consensus estimate of $109.05 million. Doximity, Inc. sees FY2024 revenue of $460-472 million, versus the consensus of $458.7 million.

Unity Software Inc. (U) 14% LOWER; reported Q3 EPS of ($0.32), $0.49 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $544.2 million versus the consensus estimate of $554.17 million. The company also said it is not providing guidance for the fourth quarter or full year 2023.

Iridium Communications Inc. (NASDAQ:IRDM) 9% LOWER; Qualcomm (NASDAQ:QCOM) notified Iridium that it has elected to terminate the agreements, effective December 3, 2023.

Illumina (NASDAQ:ILMN) 7% LOWER; reported Q3 EPS of $0.33, $0.20 better than the analyst estimate of $0.13. Revenue for the quarter came in at $1.12 billion versus the consensus estimate of $1.13 billion. Illumina sees FY2023 EPS of $0.60-$0.70, versus the consensus of $0.80.

TKO Group Holdings, Inc. (TKO) 5% LOWER; announced that one of its stockholders, Mr. Vincent K. McMahon, intends to offer for sale in an underwritten secondary offering 8,400,000 shares of the Company’s Class A common stock.

Hologic (NASDAQ:HOLX) 3% HIGHER; reported Q4 EPS of $0.89, $0.05 better than the analyst estimate of $0.84. Revenue for the quarter came in at $945.3 million versus the consensus estimate of $940.03 million. Hologic sees Q1 2024 EPS of $0.92-$0.97, versus the consensus of $0.94. Hologic sees Q1 2024 revenue of $960-985 million, versus the consensus of $1017 million. Hologic sees FY2024 EPS of $3.90-$4.10, versus the consensus of $3.90. Hologic sees FY2024 revenue of $3.92-4.02 billion, versus the consensus of $4.023 billion.

Source: Investing.com

From Bulk to Bits: Walgreens Trims Cencora Stake, Pockets $674 Million

Making financial waves, Walgreens Boots Alliance (NASDAQ:WBA) once again lightened its load in Cencora, previously sailing under the flag of AmerisourceBergen (NYSE:COR). The result? A cool $674 million courtesy of shedding shares in the American pharmaceutical supplier.

With this recent sell-off, Walgreens now holds a mere 15% slice of the Cencora pie, utilizing the proceeds as a makeshift lifeboat to navigate the choppy waters of debt. Even after this scaling down, Walgreens proudly boasts its status as the heavyweight champion among Cencora’s shareholders.

Cencora, once known as AmerisourceBergen, ditched its old identity in 2023, envisioning a more globalized future beyond merely doling out drugs. Their rebranding effort set sail in the latter half of the year, marking a new chapter in their story.

Walgreens’ strategic dance with Cencora isn’t a solo act. In fact, this isn’t their first rodeo—just a few months back in August, they cashed in a chunk of their Cencora shares, making a profit to the tune of about $1.85 billion.

The pharmacy giant’s investment portfolio is constantly shape-shifting, just like a chameleon in a colorful landscape. And their tango with Cencora continues to be one captivating number on the financial dance floor.

Investing on a Friday is like deciding whether to wear flip-flops or formal shoes to a casual beach party. It’s that fine balance between making wise financial moves and succumbing to the siren call of weekend relaxation. You’re essentially playing the stock market equivalent of “Should I stay or should I go?” by The Clash. But who says you can’t have your cake and eat it too? After all, Fridays offer the thrill of potential gains while mentally plotting your weekend adventures, a bit like multitasking in a rollercoaster of financial possibilities. Just remember, whatever your investment flavor, may your portfolio be as diversified as your weekend plans!