StubHub Latest Victim of Cyberthieves

By ABC News

Jul 23, 2014 9:25am

Morning Money Memo:

ABC News’ John Kapetaneas reports:

You may want to check that ticket again. Nearly 1,000 customers of the online ticket exchange StubHub are the latest victims of cyberthieves. The San Francisco-based, eBay-owned company Tuesday said that while the thieves did not hack the online marketplace’s security, they did compromise account holder information and passwords from other Web-traffic areas. While this latest security breach may be cause for concern among online shoppers, it pales in comparison to the May breach that affected 150 million eBay users, and the late-winter breach that hit 40 million Target customers.

It’s Apple’s world, and we’re all consuming every minute of it. Tech giant Apple was granted a patent  Tuesday for a concept of what could become the “iWatch.” The electronic wristband concept is not formally in development, although widespread rumors seem to indicate otherwise. Apple Tuesday reported earnings growth at its highest rate in two years, spurred on by growing iPhone sales.

It’s another big round in the earnings ring, with companies reporting a mixed bag of results. Here are this morning’s highlights:

-Boeing beat analyst’s estimates this quarter, posting second quarter earnings of $2.24 (vs $1.67 last year) on revenue of $22.05 billion. The company also raised its guidance for the year.

-Delta Airlines also beat estimates, posting a 17 percent increase in 2Q earnings.

-PepsiCo announced a slight drop in second-quarter earnings, with profits of $1.98 billion falling below last year’s $2.01 billion, while revenue rose 0.5 percent to $16.89 billion, exceeding analyst expectations. The soda maker also reported a 1 percent rise in snack volumes.

-Pharmaceutical company GlaxoSmithKline is seeing its shares drop this morning after reporting a 4 percent drop in earnings.

-Defense contractor General Dynamics saw its profits drop, and revenue fell 4.6 percent for the quarter.  Northrop Grumman reported a 4.7 percent bump in profits, amid the company’s cost-cutting endeavors.

-German automaker Daimler AG reported a 12 percent rise in second-quarter earnings on strong sales of the Mercedes-Benz. Daimler’s stock is up over 1 percent today.

-Dow Chemical  reported a 60 percent drop in earnings despite a 2.3 percent increase in revenue.

Also reporting after the close today: AT&T, Facebook, Equifax, and Qualcomm.

Markets worldwide are having a strong day. European markets are in the green across the board, while Asian markets largely finished on a high note as well. Dow futures are up for the morning, as investors may be looking at a positive open on Wall Street. Gold climbed $3 to $1,311 an ounce. Crude oil is unchanged.

Hold the fruit, please. A California company is recalling three dozen various fruit-based products sold to national wholesalers, including Costco, Trader Joe’s and Walmart, over concerns of the food-borne contamination listeria. Federal agencies have cautioned consumers of various Sweet 2 Eat brand products with purchase dates between June 1 and July 20 to throw away or return their product. A list of recalled items can be found HERE and a response from Wawona Packing Co. HERE.

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