Target Confirms PIN Data was Compromised; Unemployment Benefits to End
Is the Santa Claus rally already over as stocks end down today? After denying that PIN data was stolen during the massive security breach, Target (TGT) confirmed today encrypted PIN data was actually stolen. Even though Target acknowledges that the PIN data was stolen, they still believe that the PIN numbers are still secure. Tomorrow unemployment benefits are set to end, impacting 1.3 million Americans. The program that gives aid to Americans who are unemployed is set to end once the funds run out. This program was established during the recession when the unemployment rate was around 10%, now that the unemployment rate has dropped to around 7% many believe that it is not beneficial to extend the aid program.After having a record week, Twitter's (TWTR) stock falls around 7.5% on the day after the stock was downgraded to "underperform".
Word on the Street
- U.S. unemployment benefits are to stop tomorrow.
- Nasdaq to pay $41.6 million for Facebook's (FB) botched IPO.
- New York is raising the minimum wage.
- Hyundai to appoint new CEO, David Zuchowski.
- Target (TGT) confirms that PIN data was stolen during the massive breach.
- Textron (TXT) to acquire Beechcraft for $1.4 billion.
Published on Dec 27, 2013By InvestorGuide Staff