Tag Archives: technology

Apple Customers Hacked In First Known Mac Ransomware Blitz

Hackers targeted Apple ( AAPL ) Macintosh users over the weekend in what No. 2 cybersecurity firm Palo Alto Networks ( PANW ) believes was the first successful ransomware scheme on the OS X platform. Ransomware attacks have targeted  Microsoft ( MSFT ) Windows computers, encrypting data on infected machines and then demanding a ransom from users for the digital key to the locked files. Palo Alto dubbed the Apple ransomware “KeRanger.” KeRanger was burrowed into two installers of Transmission 2.90, an open-source BitTorrent software used to transmit peer-to-peer data, according to a Palo Alto Networks blog post Sunday. Because KeRanger was signed with a valid Mac application development certificate, it was able to bypass Apple’s Gatekeeper systems, Palo Alto said. KeRanger sleeps for three days before locking files, which means infections will likely become evident Monday. “After completing the encryption process, KeRanger demands that victims pay one bitcoin (about $400) to a specific address to retrieve their files,” according to the post. KeRanger also infected Time Machine backup files to prevent victims from recovering previously protected data. Palo Alto Networks says it alerted Apple and Transmission on Friday and has since updated its URL-filtering and threat-prevention processes to block KeRanger installs. Transmission has since removed the malicious installers from its website and released version 2.92. Apple revoked the abused certificate and updated its XProtect antivirus signature, Palo Alto Networks said. Apple confirmed in an email to IBD that it has pulled the developer certificate and updated XProject so that no one can install the infected app. Transmission representatives told Forbes that about 6,500 machines were infected. Transmission removed the infected version about 32 hours after Palo Alto notified the site of the breach, Ryan Olson, head of Palo Alto Networks’ threat intelligence unit, told IBD. According to Palo Alto Networks, the only previous ransomware developed to hit Macs was discovered in 2014. Then, security firm Kaspersky Lab found an incomplete hack named FileCoder. “We believe KeRanger is the first fully functional ransomware seen on the OS X platform,” Palo Alto said. Ransomware attacks are booming as cybercrooks shift from bank information theft — a model fraught with risk — to easier and less traceable scams, Olson said. And the attacks are indiscriminate, targeting grandma and her home computer as often as businesses with operations-critical files. “It’s a broad spectrum,” he said. “They’re going to monetize every infection they can using this technique.” Apple stock fell 1.1% on the stock market today , while Palo Alto Networks stock rose 2.3%.

ComScore Stock Plunges; Stock Buyback Shelved; Analyst Day Delayed

ComScore ’s ( SCOR ) stock plunged more than 30% to a nearly two-year low after the Internet and TV audience measurement company further delayed the filing of its annual report, suspended share buybacks and postponed an investor day. Shares of rival  Nielsen ( NLSN ) were up a fraction in early afternoon trading in the stock market today , and the shares are up 11% in a shaky 2016. ComScore’s completed its acquisition of Rentrak on Feb. 1. The two companies announced their merger on Sept. 29, aiming to take on industry leader Nielsen. ComScore and Nielsen are in IBD’s Commercial Services — Market Research group, which ranks a lowly No. 142 out of 197 industry groups tracked. Among tech research firms in that group, Gartner ( IT ) has an IBD Composite Rating of 77. Nielsen has an 88 CR, and ComScore has a 52. ComScore, whose stock has been in a downtrend since August, said directors had suspended a $125 million stock repurchase program until an internal review of accounting matters is completed. In an SEC filing Monday, it also said it was delaying its annual report and 10-K filing for 2015 until its audit committee can complete an accounting review that began last month. ComScore said the committee indicated it can’t complete that review before March 15. ComScore’s investor day had been slated for March 16. “Investors are focused on a number of questions that have led to shares underperforming (integration of Rentrak, growth of the core business), and we believe the latest accounting announcement could further amplify this focus,” said Jefferies in a research note.

Western Digital Shareholders Expected To Approve Deal For SanDisk

Western Digital ( WDC ) shareholders likely will approve the company’s $19 billion offer to acquire SanDisk ( SNDK ), says RBC Capital Markets. The vote among Western Digital shareholders is set for March 15. A definitive agreement between the two companies was reached on Oct. 21. “Given our analysis of the top 20 Western Digital shareholders and our discussions with a large number of investors, we think the probability is higher the deal gets approved vs. not,” wrote RBC analyst Amit Daryanani in a research note Monday. He said 15 of the top 20 Western Digital shareholders also own SandDisk stock, making the potential approval likely. The deal came into question late last month, when China-based conglomerate Unisplendour canceled plans to acquire a 15% stake in the disk drive maker for about $3.8 billion, on fears U.S. regulators would scuttle the deal due to national security concerns. Western Digital plans to acquire SanDisk, a leading provider of flash-memory chips used in smartphone and tablets, in a cash-and-stock transaction that was valued at $86.50 a share, or about $19 billion, when the deal was announced. After the Chinese investor pulled out, Western Digital went to its alternative offer, which it says values SanDisk at $78.50 a share. Western Digital anticipates seeing $500 million in total cost synergies, not including tax savings, from the acquisition. Daryanani rates Western Digital stock outperform, with a price target of 68. Western Digital stock was up more than 3%, near 50.50, in midday trading Monday, but its shares were near 72 when it announced the pending acquisition. SanDisk stock was up nearly 1%, near 76.50, in midday trading in the stock market today . Image provided by Shutterstock .