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MICROSOFT DOWN: Online Outage Hit Again After Global IT Meltdown

Posted on July 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

BREAKING NEWS

Story by Andrew Griffin • 4h ago

By Staff Reporters

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Microsoft’s online service have been hit by another outage, days after an IT meltdown that brought much of the world to a halt. The company said it was investigating reports of user problems accessing its services, with some reporting being unable to access email and other functions.

An alert on the technology giant’s service status website said it was looking into a “network infrastructure” issue that was impacting access to Microsoft services.

The incident comes less than two weeks after a major global IT outage knocked global infrastructure including transportation and healthcare services offline because of a flawed software update from cybersecurity firm CrowdStrike affected Microsoft devices.

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Filed under: Breaking News, Experts Invited, Information Technology | Tagged: CrowdStrike, global it outage, HIT, Information Technology, IT, it outage, MSFT | Leave a comment »

S&P: Makes a Comeback

Posted on July 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Standard & Poor’s 500 Stock Index

What it is: Investment company Standard & Poor’s maintains an index of 500 stocks from the largest companies listed on the NASDAQ and New York Stock Exchange. To be eligible for consideration, companies have to meet certain criteria—including a market cap of $8.2+ billion, a U.S. headquarters, and positive earnings for at least four consecutive quarters. They can be kicked out if they slip.

How it works: Companies are weighted by their market cap, specifically their float-adjusted market cap (which only counts shares that are theoretically available for retail investors to buy). That means the S&P skews toward larger cap companies, and tech stocks now account for over a quarter of the index’s total value.

Why it matters: With 500 stocks covering a broad range of industries, the S&P is widely considered the best indicator of large-cap stocks in the U.S. While the S&P’s weighting-by-market-cap method is more common than the Dow’s weighting by share price, it does introduce some risk that overvalued stocks will inflate the overall index.

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Technology stocks staged strong a comeback yesterday, giving the S&P 500 its best day since early June.

For example, Nvidia led the pack, thanks in part to reports that it’s developing an AI chip for the Chinese market.

But, one company notably excluded from the tech party was CrowdStrike, which continued to plunge after causing worldwide chaos with a bad update.

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Filed under: Alerts Sign-Up, Glossary Terms, Information Technology, Investing | Tagged: AI, CrowdStrike, Cyber Security, IT, Nvidia, S&P 500, Standard & Poor's, technology stocks | Leave a comment »

DAILY UPDATE: Starbucks, Crowdstrike, US Banks and Charles Schwab

Posted on July 22, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Shares of Charles Schwab (NYSE: SCHW) fell over 15% last week, according to data from S&P Global Market Intelligence. One of the largest brokerages posted slow growth and poor earnings as the company deals with low-yielding assets on its balance sheet. As of 1:31 p.m. ET on Friday, July 19th, Charles Schwab stock was down 17.5% this week.

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Activist investor Elliott Investment Management has reportedly built up a substantial stake in Starbucks and has been pushing the coffee chain to improve its stock price.

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Markets: The S&P 500 logged its worst week since April as investors pulled back from Big Tech stocks. CrowdStrike fell because causing a global IT outage is not good (more on that in a sec).

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In a recent video, finance YouTuber Lena Petrova highlighted the troubling financial state of U.S. banks as they report significant losses and increase their reserves to cover a surge in loan delinquencies. With the second quarter results rolling in, it’s evident that the banking sector is under considerable strain.

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DAILY UPDATE: Crowdstrike Price, Banks and Healthcare

Posted on July 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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CrowdStrike saw its share price plummet Friday, although it is still up ~24% YTD. At $74.2 billion, CrowdStrike has the second-largest market cap in the IT security industry, behind only Palo Alto Networks ($107.1 billion), and reported $900 million in revenue for the quarter ending in April, per Reuters. It’s got ~29,000 customers, which is part of why the outage caused so much havoc.

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Crowdstrike Banks: Some traders at JPMorgan Chase, UBS, Bloomberg, and other financial institutions couldn’t execute orders yesterday morning, with one unnamed senior trader telling the Financial Times that it was “the biggest upset in years.”

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Crowdstrike Healthcare: Many hospitals—including some of the largest in Europe and the US—were forced to cancel all elective operations, routine appointments, and walk-ins, and online portals for most UK general practitioners went down.

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Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Ethics, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: Bloomberg, CrowdStrike, crowdstrike banks, crowdstrike healthcare, crowdstrike hospitals, Financial Times, Marcinko, palo alto networks, UPS | Leave a comment »

BEWARE: Microsoft Global Outage

Posted on July 19, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters [1 hours ago]

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People woke up to technological chaos this Friday morning as Microsoft suffered a massive, ongoing global IT outage, which is hitting airports, airlines, banks and broadcasters around the world. The problem appears to be with Microsoft 365 services and apps, which many companies and organizations rely on as part of their critical internet infrastructure. Perhaps most concerning of all, many states across the US have reported that their emergency 911 lines are down.

Microsoft said on X that it was aware of an issue impacting people’s ability to access 365 services late on Thursday. The latest update was issued around 4 a.m. ET/1 a.m. PT, when it said, “multiple services are continuing to see improvements in availability as our mitigation actions progress.” The company didn’t immediately respond to request for further comment.

According to CNET, the outage, which also took down the London Stock Exchange, has been linked to a faulty update from cybersecurity company CrowdStrike. The company handles the security of many Windows PCs and services around the world. The last time there was an internet outage this widespread was when a service called Fastly went down in 2021. It’s a reminder of how much of the internet is underpinned by shared infrastructure, which leaves it vulnerable to widespread issues such as this.

Nevertheless, this Medical Executive-Post remains strong; so far.

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Filed under: Alerts Sign-Up, Breaking News, Industry Indignation Index, Information Technology, LifeStyle | Tagged: CNET, CrowdStrike, Global Outage, microsoft, MSFT, PC, Windows PC | Leave a comment »

DAILY UPDATE: Flag Day, KKR, Wells Fargo and the S&P 500

Posted on June 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“

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HAPPY FLAG DAY

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Wells Fargo found that some of its employees were pretending to work — and sent them packing. More than a dozen employees in the bank’s wealth and investment management divisions were discharged last month “after review of allegations involving simulation of keyboard activity creating impression of active work,” Bloomberg reported citing disclosures filed with the Financial Industry Regulatory Authority (FINRA).

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Here’s where the major benchmarks ended:

The S&P 500 index gained 12.71 points (0.2%) to 5,433.74; the Dow Jones Industrial Average lost 65.11 points (0.2%) to 38,647.10; the NASDAQ Composite rose 59.12 points (0.3%) to 17,66756.
The 10-year Treasury note yield (TNX) fell about 5 basis points to 4.246%.
The CBOE Volatility Index^® (VIX) declined 0.10 to 11.94.

What’s up

Broadcom rose 12.27% to a new all-time high after a great quarterly earnings report and the announcement of a 10-for-1 stock split.
Super Micro Computer popped 12.44% as it rode AI hype and Broadcom’s coattails higher today.
GameStop rose 14.18% after Keith Gill, aka Roaring Kitty, seemingly closed out a large chunk of his options position in the stock. Oh, and the company’s servers crashed during its shareholder meeting today due to overwhelming interest.
John Wiley & Sons rose 12.11% after the publisher of the beloved For Dummies book series announced it’s using its content to train AI models. Is there nothing AI can’t do???

What’s down

Virgin Galactic fell 14.28% after the company announced a 1-for-20 reverse stock split, a necessary evil in order to remain listed on the NYSE.
Warner Bros Discovery sank 6.66% after the company announced a deal to sell its shares of the Formula E racing series to Liberty Global.
Signet Jewelers plunged 14.93% after the company announced lower-than-expected sales and earnings last quarter.
Sirius XM fell 3.61% on speculation that the once-hot stock could be cut from the Nasdaq 100 in an upcoming rebalancing.
Dave & Busters Entertainment slumped 10.94% after it missed on top and bottom line earnings expectations this quarter. No word yet if gambling on skee ball games with your buddies can save the company.

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On Monday, private equity giant KKR jumped 12% after S&P Dow Jones Indices announced the company would be joining the index yesterday, along with CrowdStrike and GoDaddy, which saw their stocks jump 9% and 2%, respectively. The additions will be incorporated June 24.

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DAILY UPDATE: Moody, CME Fedwatch and Ever Rising Stock Markets

Posted on June 13, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“

A Partner of the Institute of Medical Business Advisors , Inc.

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SPONSORED BY: Marcinko & Associates, Inc.

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Daily Update Provided By Staff Reporters Since 2007.
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On Monday, private equity giant KKR jumped 12% after S&P Dow Jones Indices announced the company would be joining the index on Friday, along with CrowdStrike and GoDaddy, which saw their stocks jump 9% and 2%, respectively. The additions will be incorporated June 24.

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Stat: 99.4%. That’s the likelihood that interest rates will stay the same after the Fed’s meeting, according to the CME Fedwatch Tool. So it looks to be more “hurry up and wait” for interest rates to start coming down. 🫤 (Business Insider)

Quote: “It’s hard to think of a time when the US economy has diverged so fundamentally from its peers.”—Mark Zandi, chief economist at Moody’s Analytics, on the strength of the US economy compared to the weakness of other major economies. The US economy is continuing to grow while economies like Germany, Japan, and Canada are falling into recession. (The Atlantic)

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Here’s where the major benchmarks ended:

The S&P 500 index rose 45.71 points (0.9%) to 5,421.03; the Dow Jones Industrial Average lost 35.21 points (0.1%) to 38,712.21; the NASDAQ Composite gained 264.89 points (1.5%) to 17,608.44.
The 10-year Treasury note yield (TNX) fell more than 7 basis points to 4.326%.
The CBOE Volatility Index^® (VIX) declined 0.81 to 12.04.

What’s up

Oracle shot up 13.25% to new all-time highs after announcing so-so earnings but highlighting new deals with Microsoft, Google, and OpenAI.
Apple rose 2.86% today, continuing its surge higher after WWDC announcements highlighting its AI game plan. The company briefly surpassed Microsoft as the largest publicly traded company in the US by market cap.
Builders FirstSource rose 5.35% on investor hopes of interest rate cuts coming sooner rather than later, which would heat up the housing market and help the building materials supplier’s business. PulteGroup rose 4.01% for the same reasons.
Casey’s General Stores rose 16.72% to a new all-time high after the company reported shockingly strong fourth-quarter results.
Rentokil Initial rose 13.71% after activist investor Nelson Peltz announced a large position in the British pest control company.

What’s down

GameStop fell 16.50% after short-seller Citron announced it had abandoned its short position in the stock. The company also raised over $2 billion in a stock sale that capitalized on the latest meme madness.
Rubrik dropped 8.91% after the company announced its first quarterly earnings since going public. The weird part? They beat analyst estimates.
Vera Bradley sank 17.16% after a poor first-quarter earnings report revealed a surprise loss.
Exelon fell 4.03% after Maryland regulators largely rejected a proposal to hike customer rates.

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DAILY UPDATE: Credit Suisse Down While US Equities Mixed

Posted on March 9, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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CREDIT SUISSE:
Equities revenue plummeted 95% in the fourth quarter
CS earlier informally looked at options for unit -sources
CS declined comment on ‘rumors and speculation’, and
In the latest piece of troubling news, the beleaguered Swiss bank delayed the publication of its 2022 annual report following a “late call” from the US Securities and Exchange Commission on Wednesday evening. The SEC got in touch over revisions the bank had previously made to its cash flow statements for 2019 and 2020,

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U.S. equities finished mixed following yesterday’s rout, as investors digested a second day of testimony from Fed Chair Jerome Powell. The Chairman remained hawkish in his commentary, where he suggested rates may need to accelerate more than initially expected and may need to stay higher for longer than originally anticipated. Adding to the uncertainty, the afternoon release of the Fed’s Beige Book showed little change from the last installment.

Treasury yields were mixed with the yield curve inversion worsening, and the U.S. dollar was flat after yesterday’s rally. Crude oil prices were lower, and gold was little changed in choppy action. News on the equity front was light, as CrowdStrike topped quarterly earnings estimates and offered upbeat guidance, while UPS reiterated its full-year outlook.

The economic calendar was tilted toward labor data, as job openings dipped but remained elevated, and ADP’s private sector employment report bested forecasts ahead of Friday’s key non-farm payroll release.

Elsewhere, mortgage applications snapped a three-week losing streak, and the trade deficit came in slightly smaller than projected. Asia finished mixed and Europe also diverged, as the global markets processed the testimony from Fed Chairman Powell.

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UPDATE: The US and Russian Stock Exchanges, Russian Banks, Oil and the Ruble

Posted on February 25, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

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WAR IS ON!

By Staff Reporters

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US Exchange: US stocks climbed out of a deep hole to close higher as investors piled into Big Tech names. One sector that got a boost from the war’s outbreak was cybersecurity: Firms like CrowdStrike surged in anticipation of more cyberattacks from Russia.

10 Year T-Bond: 1.971 down

Russian Exchange: The stock exchange in Moscow suspended trading yesterday but when dealing resumed, stocks went into free-fall. The MOEX index plunged as much as 45%, while the RTS index — which is denominated in dollars — was down more than 40% at 4.15 a.m. ET. The crash wiped about $75 billion off the value of Russia’s biggest companies.

Russian Banks and Oil: These companies were among the hardest hit in volatile trading, with shares in Sberbank — Russia’s largest lender — at one stage losing 57% of their value. Rosneft, in which BP owns a 19.75% stake, plunged as much as 58%. BP shares dropped 5% in London.

Russian Ruble: 1 US Dollar = 82.92 Russian Ruble

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Filed under: Alerts Sign-Up, Investing, LifeStyle | Tagged: bonds, BP, CrowdStrike, MOEX, Rosneft, RTS Index, Russian Banks, Russian Ruble, russion oil, Sberbank | 1 Comment »

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