Target Suffers Major Breach; Zuckerberg Reduces His Holding in Facebook
After a record setting day on Wednesday, Nasdaq and the S&P 500 close down while the Dow Jones finishes in the green. Target (TGT) confirmed today that they experienced a massive credit-card data breach in stores across the nation. Approximately 40 million accounts have been compromised between November 27 and December 15. After falling for three straight months, home sales post its first annual decline in 29 months. Economists are stating this drop is due to limited inventory, tighter credit checks, and higher mortgage interest rates.Mark Zuckerberg, CEO of Facebook (FB) is selling $2.3 billion in stock to reduce his holding in the company from 65.2% to 62.8%. During this time he also plans to donate 18 million shares to charity, which equals approximately $1 billion. Hershey's (HSY) is going to by Chinese candy maker, Shanghai Golden Monkey Food Co., for $584 million. This acquisition will help Hershey's to continue its expansion efforts in China.
Word on the Street
- Harry Reid insists they will vote early in 2014 to extend jobless benefits.
- Was your credit card info compromised while shopping at Target (TGT)?
- Facebook (FB) CEO donates 18 million shares, approximately $1 billion to charity.
- Would raising the minimum wage to $10.10 help create new jobs?
- Overstock.com (OSTK) will begin accepting Bitcoin in 2014.
- Lennar (LEN) stock up 6 percent on housing demand.
Published on Dec 19, 2013By InvestorGuide Staff