On today’s episode of the Zacks Friday Finish Line, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories, including the reaction to the massive WannaCry cyberattack, the mid-week Trump selloff, and the latest retail earnings reports.
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First up this week was Monday’s surge in the cybersecurity industry thanks to the widespread WannaCry malware attacks. Shares of some of the world’s largest cybersecurity companies—such as FireEye Inc (NASDAQ:FEYE), Palo Alto Networks Inc (NYSE:PANW) and Symantec Corporation (NASDAQ:SYMC) soared after the cyberattacks hit over the weekend.
Cybersecurity stocks tend to gain in response to large-scale hacks because companies are more likely to bolster their protection, and oh boy, was this attack a doozy. This latest attack, which started last Friday, compromised an estimated 200,000 computers in over 150 countries.
Find out more here: Here’s Why Cybersecurity Stocks Are Soaring
Next, the hosts discussed the latest drama from Washington. As the Trump administration continues to deal with the fallout of the firing of James Comey, investors finally seem nervous about the White House’s ability to implement its pro-growth agenda.
The latest plot twists include reports that Comey documented Trump’s requests to stop the investigation into his campaign’s ties to Russia, as well as the Justice Department’s appointment of a special counsel for the ongoing probe.
Check out how the markets reacted: S&P 500, Industrial Giants Dip as Trump Controversies Continue
Finally, Maddy and Ryan chatted about the latest earnings from the retail sector. This week saw some nice results from the likes of Home Depot (NYSE:HD), Target Corporation (NYSE:TGT), and Wal-Mart Stores Inc (NYSE:WMT), which led the hosts to discuss the overall health of the economy and the success of each companies’ latest initiatives.
You can find some more coverage on these reports here: After Solid Earnings, Here Are 5 Fun Facts About Home Depot& Walmart vs. Target: Who Performed Better During Q1 Earnings?
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As always, thanks for listening to this special edition of the Zacks Friday Finish Line, and check back for even more news from the investment and financial world!
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