#fortinet · Cascadity

MMMarket Movers NOW -30.2%FTNT -19.6% #cybersecurity #earnings #fortinet #servicenow #software

ServiceNow and Fortinet sink more than 20% on small misses, dragging software and security peers

CNBC's movers list has the numbers, and Jim Cramer's piece argues the sell-off in peers is guilt by association.

Two software companies fell sharply on October 29 after reporting late on October 28. ServiceNow dropped 26% after adjusted profit of $1 a share missed the $1.02 consensus, while its fourth-quarter subscription revenue guidance of $4.245 billion to $4.255 billion straddled the $4.25 billion estimate. Fortinet fell 21% after its non-GAAP gross margin came in at 79.6% against 80.1% expected, even though revenue and profit beat estimates.

CNBC's Jim Cramer said Fortinet's results pulled down Palo Alto Networks and CrowdStrike, and ServiceNow's weighed on Workday and Salesforce. He argued Fortinet, which is more hardware-focused, has been losing share to those rivals, so its weakness is company-specific rather than a sign of slowing demand for cybersecurity.

Read it at the source

CNBCStocks making the biggest moves midday: ADT, Alphabet, Caterpillar, Eli Lilly, Chipotle & more Independent ↗ CNBCJim Cramer says Wall Street is punishing the wrong tech stocks Independent ↗

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Gross margin

After exploring Stocks making the biggest moves midday: ADT, Alphabet, Caterpillar, Eli Lilly, Chipotle & more, to see why half a point of margin mattered so much, read Gross margin.

Wikipedia defines gross margin as revenue minus the cost of goods sold, divided by revenue and expressed as a percentage.

Wikipedia · Wade · 5 min

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CCybersecurity #fortinet #ransomware #vpn

FBI: FortiBleed attacks are still locking admins out of FortiGate VPNs

If you run FortiGate, the FBI's remediation list is the part to read.

The FBI warns that attacks using the FortiBleed credentials leak are ongoing against exposed Fortinet FortiGate firewalls and SSL VPN gateways. Attackers log in with leaked or stolen credentials, crack further password hashes offline, and in some cases create their own admin accounts and delete or change the legitimate ones. The FBI says the attack chain has been an entry point for ransomware affiliates. It says fixing this may take more than patching and resetting passwords: restrict external access, end all active VPN sessions, enforce MFA and review logs.

Read it at the source

BleepingComputerFBI: Ongoing FortiBleed attacks lock out FortiGate VPN admins Independent ↗

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Credential stuffing

After exploring FBI: Ongoing FortiBleed attacks lock out FortiGate VPN admins, the attack pattern underneath is Credential stuffing.

Attackers take lists of stolen usernames and passwords and automate logins against other systems. Unlike brute force, it doesn't guess passwords; it reuses ones that already leaked.

Wikipedia · Wade · 5 min

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