Microsoft

CEOs are joking about GameStop, worrying it signals a bubble, and preparing for the next meme-stock boom

Summary List Placement CEOs are still chattering about GameStop and meme-stock mania. Some have joked about it, while others fear the frenzy is evidence of a bubble. Here are the best comments on earnings calls so far. Visit Business Insider’s homepage for more stories. The GameStop saga is still sparking conversations across corporate America. Executives…

Summary List Placement
CEOs are still chattering about GameStop and meme-stock mania.
Some have joked about it, while others fear the frenzy is evidence of a bubble.
Here are the best comments on earnings calls so far.
Visit Business Insider’s homepage for more stories.

The GameStop saga is still sparking conversations across corporate America.
Executives continue to marvel at the surge in the video-game retailer’s market capitalization to over $30 billion at one point. They’re questioning whether mass speculation among amateur investors is a bubble about to burst. At least one is ready to cash in if the meme-stock frenzy has a second act.
Here are the best comments from CEOs to date, drawn from earnings-call transcripts on Sentieo, a financial-research website. The quotes have been lightly edited and condensed for clarity:
1. “We can just change our name to GameStop.” — Mark Costa, CEO of Eastman Chemical, when asked if he would consider a SPAC spinoff to boost his company’s valuation.
2. “You have to pause and wonder, when GameStop is the most valuable company in the Russell 2000, that the world has certainly changed.” — Frank Gasior, CEO of BankFinancial.
3. “On GameStop and bitcoin, there are definitely bubbles out there.” — Scott Hartz, CIO of Manulife Financial Corporation.
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4. “GameStop required a very unique set of circumstances where the asset had been oversold. It’s not so much a GameStop movement. It’s a unique series of events that allow for a short squeeze.” — Muhamad Umar Swift, CEO of Bursa Malaysia Berhad.
5. “When you start looking at some of the alternative-energy stocks, you start looking at some of the small speculative stocks, what’s happened in the last several days with GameStop – there is an area that I think is overheated.” — Mark Stoeckle, CEO of Adams Diversified Equity Fund, highlighting bubbles in the market.
6. “The GameStop fever – we did see Japanese retail customers trading those shares a lot as well. It used to be when we talk about Japanese retail customers buying a US equity, it’s Amazon, Apple, Microsoft, something like that. But now they play around with the smaller stocks as well. Before the global financial crisis and before the internet bubble burst, we saw similar kinds of phenomena.” — Oki Matsumoto, CEO of Monex.
7. “The other problem is the GameStop thing that’s going on out there. We have a better feel for what’s going on right now, and I don’t see a dot-com bust.” — David Farr, CEO of Emerson Electric, comparing his current level of concern to his fears during the internet bubble and after the 9/11 terrorist attacks.
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8. “The craziness in the market has very little impact on us, because we just don’t have any exposure to any of these kinds of companies. The high-flying growth stocks, the items that have caused the market to have these giant dislocations where you stare in amazement, we’re not in those. I wish I could tell you that we owned some in advance, and we benefited from them.” — Richard Pzena, CEO of Pzena Investment Management, asked about Tesla, GameStop, and bitcoin.
9. “We did that deal right at a time, where GameStop and AMC were destroying some hedge funds who got into a jam. It wouldn’t surprise me if some of them were in our stock and had to raise capital and just sold our stock.” — Ted Karkus, CEO of ProPhase Labs, discussing the downward pressure on  his company’s stock after it raised $37.5 million in a public stock offering.
10. “I don’t think we anticipated the spike related to GameStop. It got us thinking and we said, ‘Hey, it’s a good tool. We might as well have it back on the shelf.’ And so that’s why we renewed it.” — Thomas Hern, CEO of Macerich, explaining the shopping-mall owner renewed its at-the-market stock offering after watching its share price surge during the meme-stock frenzy.Join the conversation about this story » NOW WATCH: How waste is dealt with on the world’s largest cruise ship
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The Outer Worlds 2 is now $10 cheaper, as Obsidian details how to get a refund on your pre-order

If you click on a link and make a purchase we may receive a small commission. Read our editorial policy. The Outer Worlds 2 is now $10 cheaper, as Obsidian details how to get a refund on your pre-order Cash in hand. Image credit: Obsidian News by Connor Makar Staff Writer Published on July 23

If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

The Outer Worlds 2 is now $10 cheaper, as Obsidian details how to get a refund on your pre-order

Cash in hand.

A character in a leafy ghilli suit leaps over a platform towards the camera while being shot at from afar.
Image credit: Obsidian

The Outer Worlds 2, the upcoming sci-fi FPS by Obsidian Entertainment will now be sold at $70 dollars, rather than the planned $80. This follows a statement by Microsoft confirming the U-turn earlier today.

Those who have already purchased the game at the $80 price point on Steam will have the purchase refunded and re-bought at the lower figure. On Battle.net, those who pre-ordered the game will have their orders cancelled and refunded, and will have to re-buy the game. Those on Xbox and PlayStation will have the difference refunded in the upcoming days.

This announcement was made on The Outer Worlds official social media accounts, with a cute in-universe statement and graphic. On the official Obsidian website, further explanation on how the price change will affect those who’ve already spent money has been provided.

Cover image for YouTube videoThe Outer Worlds 2 – Official Gameplay Trailer

Watch the gameplay trailer

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Microsoft reverses $80 first-party price hike to keep “full priced holiday releases in line with current conditions”

If you click on a link and make a purchase we may receive a small commission. Read our editorial policy. Home News Microsoft reverses $80 first-party price hike to keep “full priced holiday releases in line with current conditions” Starting with The Outer Worlds 2 Image credit: Obsidian Entertainment News by Vikki Blake Contributor Published

If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Microsoft reverses $80 first-party price hike to keep “full priced holiday releases in line with current conditions”

Starting with The Outer Worlds 2

Image credit: Obsidian Entertainment

Just weeks after confirming The Outer Worlds 2 will be the first Microsoft game to retail for $80, Microsoft has reversed the decision, revealing the highly-anticipated sequel will now launch for $69.99 in keeping with typical AAA pricing.

This will apply not just to The Outer Worlds 2, but indeed other “full priced holiday releases” launched across the period.

In a statement, a Microsoft spokesperson said Xbox was “focused on bringing players incredible worlds to explore, and will keep our full priced holiday releases, including The Outer Worlds 2, at $69.99, in line with current market conditions.”

On social media, developer Obsidian posted: “We have received your SOS via skip drone about the pricing. As an organization devoted to making sure that corporations do not go unfettered, we at the Earth Directorate have worked with [REDACTED] to revise the price of The Outer Worlds 2. While this will not bring peace to the galaxy, or even your local colony, we assure you all that we are here to fight for all colonies in every way that we can.”

Microsoft announced last month that The Outer Worlds 2 would be the first Xbox title to retail at $80 following Microsoft’s planned price rises in May.

“We understand that these changes are challenging, and th

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Microsoft

Coyote malware abuses Windows accessibility framework for data theft

A new variant of the banking trojan ‘Coyote’ has begun abusing a Windows accessibility feature, Microsoft’s UI Automation framework, to identify which banking and cryptocurrency exchange sites are accessed on the device for potential credential theft. …

A new variant of the banking trojan ‘Coyote’ has begun abusing a Windows accessibility feature, Microsoft’s UI Automation framework, to identify which banking and cryptocurrency exchange sites are accessed on the device for potential credential theft. …
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Microsoft Server Software Comes Under Widespread Cyberattack

Breadcrumb Trail Links Home PMN Business Share this Story : Microsoft Rushes to Stop Hackers from Wreaking Global Havoc Copy Link Email X Reddit Pinterest LinkedIn Tumblr Microsoft Rushes to Stop Hackers from Wreaking Global Havoc Hackers exploited a security flaw in common Microsoft Corp. software to breach governments, businesses and other organizations across the

Microsoft Rushes to Stop Hackers from Wreaking Global Havoc

Hackers exploited a security flaw in common Microsoft Corp. software to breach governments, businesses and other organizations across the globe and steal sensitive information, according to officials and cybersecurity researchers.

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(Bloomberg) — Hackers exploited a security flaw in common Microsoft Corp. software to breach governments, businesses and other organizations across the globe and steal sensitive information, according to officials and cybersecurity researchers.

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Microsoft over the weekend released a patch for the vulnerability in servers of the SharePoint document management software. The company said it was still working to roll out other fixes after warnings that hackers were targeting SharePoint clients, using the flaw to enter file systems and execute code.

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Multiple different hackers are launching attacks through the Microsoft vulnerability, according to representatives of two cybersecurity firms, CrowdStrike Holdings, Inc. and Google’s Mandiant Consulting.

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Hackers have already used the flaw to break into the systems of national governments in Europe and the Middle East, according to a person familiar with the matter. In the US, they’ve accessed government systems, including ones belonging to the US Department of Education, Florida’s Department of Revenue and the Rhode Island General Assembly, said the person, who spoke on condition that they not be identified discussing the sensitive information.

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Representatives of the Department of Education and Rhode Island legislature didn’t respond to calls and emails seeking comment Monday. A Florida Department of Revenue spokesperson, Bethany Wester Cutillo, said in an email that the SharePoint vulnerability is being investigated “at multiple levels of government” but that the state agency “does not comment publicly on the software we use for operations.”

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The hackers also breached the systems of a US-based health-care provider and targeted a public university in Southeast Asia, according to a report from a cybersecurity firm reviewed by Bloomberg News. The report doesn’t identify either entity by name, but says the hackers have attempted to breach SharePoint servers in countries including Brazil, Canada, Indonesia, Spain, South Africa, Switzerland, the UK and the US. The firm asked not to be named because of the sensitivity of the information. 

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In some systems they’ve broken into, the hackers have stolen sign-in credentials, including usernames, passwords, hash codes and tokens, according to a person familiar with the matter, who also spoke on condition that they not be identified discussing the sensitive information.

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“This is a high-severity, high-urgency threat,” said Michael Sikorski, chief technology officer and head of threat intelligence for Unit 42 at Palo Alto Networks Inc. 

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“What makes this especially concerning is SharePoint’s deep integration with Microsoft’s platform, including their services like Office, Teams, OneDrive and Outlook, which has all the information valuable to an attacker,” he said. “A compromise doesn’t stay contained—it opens the door to the entire network.” 

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(Bloomberg) — Hackers exploited a security flaw in common Microsoft Corp. software to breach governments, businesses and other organizations across the globe and steal sensitive information, according to officials and cybersecurity researchers.

Article content

Microsoft over the weekend released a patch for the vulnerability in servers of the SharePoint document management software. The company said it was still working to roll out other fixes after warnings that hackers were targeting SharePoint clients, using the flaw to enter file systems and execute code.

Article content
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Story continues below

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Multiple different hackers are launching attacks through the Microsoft vulnerability, according to representatives of two cybersecurity firms, CrowdStrike Holdings, Inc. and Google’s Mandiant Consulting.

Article content
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Hackers have already used the flaw to break into the systems of national governments in Europe and the Middle East, according to a person familiar with the matter. In the US, they’ve accessed government systems, including ones belonging to the US Department of Education, Florida’s Department of Revenue and the Rhode Island General Assembly, said the person, who spoke on condition that they not be identified discussing the sensitive information.

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Representatives of the Department of Education and Rhode Island legislature didn’t respond to calls and emails seeking comment Monday. A Florida Department of Revenue spokesperson, Bethany Wester Cutillo, said in an email that the SharePoint vulnerability is being investigated “at multiple levels of government” but that the state agency “does not comment publicly on the software we use for operations.”

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The hackers also breached the systems of a US-based health-care provider and targeted a public university in Southeast Asia, according to a report from a cybersecurity firm reviewed by Bloomberg News. The report doesn’t identify either entity by name, but says the hackers have attempted to breach SharePoint servers in countries including Brazil, Canada, Indonesia, Spain, South Africa, Switzerland, the UK and the US. The firm asked not to be named because of the sensitivity of the information. 

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In some systems they’ve broken into, the hackers have stolen sign-in credentials, including usernames, passwords, hash codes and tokens, according to a person familiar with the matter, who also spoke on condition that they not be identified discussing the sensitive information.

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“This is a high-severity, high-urgency threat,” said Michael Sikorski, chief technology officer and head of threat intelligence for Unit 42 at Palo Alto Networks Inc. 

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“What makes this especially concerning is SharePoint’s deep integration with Microsoft’s platform, including their services like Office, Teams, OneDrive and Outlook, which has all the information valuable to an attacker,” he said. “A compromise doesn’t stay contained—it opens the door to the entire network.” 

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Tens of thousands — if not hundreds of thousands — of businesses and institutions worldwide use SharePoint in some fashion to store and collaborate on documents. Microsoft said that attackers are specifically targeting clients running SharePoint servers from their own on-premise networks, as opposed to being hosted and managed by the tech firm. That could limit the impact to a subsection of customers.

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A Microsoft spokesperson declined to comment beyond an earlier statement.

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“It’s a dream for ransomware operators,” said Silas Cutler, a researcher at Michigan-based cybersecurity firm Censys. He estimated that more than 10,000 companies with SharePoint servers were at risk. The US had the largest number of such firms, followed by the Netherlands, the UK and Canada, he said. 

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The breaches have drawn new scrutiny to Microsoft’s efforts to shore up its cybersecurity after a series of high-profile failures. The firm has hired executives from places like the US government and holds weekly meetings with senior executives to make its software more resilient. The company’s tech has been subject to several widespread and damaging hacks in recent years, and a 2024 US government report described the company’s security culture as in need of urgent reforms.

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The Center for Internet Security, which operates a cybersecurity information sharing system for state and local governments in the US, found more than 1,100 servers that are at risk from the SharePoint vulnerability, said Randy Rose, the organization’s vice president of security operations and intelligence. Rose said more than 100 were likely hacked.

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The Washington Post reported that the breach had affected US federal and state agencies, universities, energy companies and an Asian telecommunications company, citing state officials and private researchers.

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Eye Security was the first to identify that attackers were actively exploiting the vulnerabilities in a wave of cyberattacks that began on Friday, said Vaisha Bernard, the company’s chief hacker and co-owner.

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Eye Security said the vulnerability allows hackers to access SharePoint servers and steal keys that can let them impersonate users or services even after the server is patched. It said hackers can maintain access through backdoors or modified components that can survive updates and reboots of systems.

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The SharePoint vulnerabilities, known as “ToolShell,” were first identified in May by researchers at a Berlin cybersecurity conference. In early July, Microsoft issued patches to fix the security holes, but hackers found another way in.

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“There were ways around the patches,” which enabled hackers to break into SharePoint servers by tapping into similar vulnerabilities, said Bernard. “That allowed these attacks to happen.” The intrusions, he said, were not targeted and instead were aimed at compromising as many victims as possible. After scanning about 8,000 SharePoint servers, Bernard said he has so far identified at least 50 that were successfully compromised.

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He declined to identify the identity of organizations that had been targeted, but said they included government agencies and private companies, including “bigger multinationals.” The victims were located in countries in North and South America, the EU, South Africa, and Australia, he added.

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—With assistance from Lynn Doan, Cameron Fozi, Daniel Cancel, Aashna Shah, Jane Lanhee Lee and Patrick Howell O’Neill.

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(Updates with additional information beginning in third paragraph.)

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