CrowdStrike Shares Trim Heavy Losses As Microsoft Announces Resolution Of Global Tech Outage: 'This Is Cl

Benzinga

2024-07-19 16:53

US cybersecurity firm CrowdStrike (CRWD) experiences a sharp stock drop due to a failed software update, causing global tech outage and flight delays.

　　Business operations in the airline and shipping industries were severely affected, with United Airlines Holdings Inc. UAL,Delta Air Lines Inc.DAL and American Airlines Group Inc.AAL, all temporarily grounding flights due to communication issues.

　　American Airlines reported at 5 a.m. ET that it had safely reestablished operations.

　　According to FlightAware.com, Delta, American Airlines and United Airlines canceled 331, 279 and 149 flights respectively, with delays numbering 194, 211 and 164 respectively. In total, 1,071 flights within, into, or out of the United States were canceled this morning.

　　Other cybersecurity companies gained in premarket trading, capitalizing on CrowdStrike's disruptions.

　　SentinelOne Inc.S, Palo Alto Networks Inc.PANW and Okta Inc. OKTA saw their shares rise by 6.3%, 2.9%, and 1% respectively.

　　While Microsoft's Windows systems were impacted, Mac and Linux hosts remained unaffected, as confirmed by CrowdStrike CEO Kurtz. Shares of Apple Inc. AAPL were up 0.9% in premarket trading.

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