Another week, another Mid-Week Market Rag.
Wednesday, August 30, 2006.
America’s largest phone company, AT&T disclosed a cyber break-in Tuesday which resulted in hackers stealing the personal information of nearly 20,000 customers, according to the Wall Street Journal. AT&T claims to have a forensic team looking into the case and a full investigation is under way.
Shares of AT&T stock are steady, however and were up two cents by noontime.
AT&T’s information technology infrastructure is benefiting another company, however. St. Louis-based TALX Corp. recently solidified a deal with the company to deliver secure IT solutions, as reported by St. Louis Business Journal.
With the news of the deal in place, TALX Stock is up almost four percent in trading today.
The good times roll on for Motorola this week. Their stock is up almost three percent today several positive technology notes, including Samsung demonstrating a new fourth generation wireless technology capable of delivering speeds of up to one gigabyte per second. This, according to the Wall Street Journal.
Retail goods wholesaler, Costco, cut their earnings estimate today, sending their stock tumbling over five percent today. According to CNNMoney, Costco remains positive on their future financial outlooks, but speculation is that gasoline prices were among factors that hurt the company’s bottom line. Unlike most gas stations that refill their supplies weekly, most Costco stations take delivery daily, making them open to damage from price fluctuations.
Finally this week, as reported, the CEO of Google has been elected to the board of Apple Computer, in a power move in their respective wars with Microsoft.
As reported in the Wall Street Journal:
“Some analysts interpreted the appointment of 51-year-old Mr. Schmidt as an event that could help Apple embrace new sources of revenue like Internet advertising, the foundation of Google’s highly profitable business.”
This further shows the power of the Internet advertisement in the future of online services.
That’s the rag for this week. Thank you for tuning in to PRrag.com