FireEye Rally on SolarWinds HackFireEye, CrowdStrike and Other Security Stocks Rally on SolarWinds Hack
Security-software stocks were flying high Friday, as investors anticipated a pickup in spending in response to widespread damage
FireEye, U.S. Agencies Affected By Cyber Attack On Solar Winds Software
The security-software firm said a “global intrusion campaign” is making use of a tainted update to SolarWinds IT-management software.
Continue reading from the cyberattacks on SolarWinds believed to have been orchestrated by Russia.
SolarWinds (ticker: SWI) has said that close to 18,000 customers were left vulnerable in the incident that has affected a range of U.S. government agencies as well as commercial clients.
That means cybersecurity spending could be “poised to accelerate” on intrusion and containment fears
The incident was first identified last week by FireEye (FEYE), a victim of the attack. While FireEye shares initially tumbled on the news as investors worried that the hack could severely impact its business, the stock has since reversed course and rallied almost 32% on Friday. Other security software stocks are also trading higher, with substantial gains for CyberArk (CYBR), Fortinet (FTNT), Mimecast (MIME), Palo Alto Networks (PANW), Proofpoint (PFPT), Qualys (QLYS), Rapid7 (RPD), Tenable (TENB), Varonis Systems (VRNS) and Zscaler (ZS).
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