Market Overview

Hacker Attacks Rose 40% Last Year

Hacker Attacks Rose 40% Last Year
Related SYMC
John Stumpf And 15 Major CEO Departures In 2016
Security Sector Check Amid Fortinet's Q3 Warning
Watch These 7 Huge Call Purchases In Friday Trade
Technical Alert: FireEye Inc. Higher Off Renewed Takeover Chatter
Give Zoe's Kitchen A Year - Cramer's Lightning Round (10/27/16) (Seeking Alpha)

Symantec Corporation (NASDAQ: SYMC) announced on Wednesday that hacker attacks on large companies increased 40 percent in 2014 from the prior year, as reported by the San Jose Mercury News.

The time required to repair vulnerabilities also increased dramatically. Vendors needed an average of 59 days to make repairs in 2014 compared to four days in 2013.

"Hackers are a lot faster, more creative and are using more resources and making it harder for companies to defend themselves," according to Satnam Narang of Symantec.

Narang added that 17 percent of apps on Android stores in 2014 were actually malware which had the appearance of legitimate games and apps.

With the surge in hacking attacks, investors may want to keep an eye on cybersecurity stocks, including FireEye Inc (NASDAQ: FEYE), Cyberark Software Ltd (NASDAQ: CYBR) and Palo Alto Networks Inc (NYSE: PANW).

Reflecting broader cybersecurity market exposure, the PureFunds ISE Cyber Security ETF (NYSE: HACK) has risen over 20 percent since November of 2014.

Posted-In: San Jose Mercury News Satnam NarangNews Tech Best of Benzinga


Related Articles (FEYE + CYBR)

View Comments and Join the Discussion!