CNBC Overtime

Thank you Jon Fortt and Morgan L Brennan for the opportunity to share our thoughts here from Secureworks on today's CNBC Overtime regarding the IT outages the world faced today. We believe it is important to have multiple layers of security, from endpoint to network to email to identity, brought together in context so that organizations are able to stop attacks even if individual controls are temporarily offline. From our seat, we are actively supporting customers who have been affected by the outage, with Secureworks systems monitoring other security telemetry while they recover. In the coming weeks vendors and platforms who have taken open approaches are well positioned as organizations re-evaluate their security control and resilience strategies. A core aspect of how we've designed things here at Secureworks is to be "open without compromise," we make it simple to deploy and work with almost any combination of security controls and vendors, eliminating complexity and giving customers maximum flexibility. Most importantly, now is the time for the security community to come together, support each other and help the organizations we serve get back online and secured. Video Interview Here: https://lnkd.in/epHFB42W

"Frankly, what we're all experiencing today is a bit of the new normal," PagerDuty CEO Jennifer Tejada said on the impact of the ongoing worldwide cyber outage and its ripple effect on businesses. "When you think about the complexity associated with new technology... what you're ultimately seeing is tech fragility." "It's important to remember that software is imperfect... the important thing to think about is how do you prepare, how do you anticipate, and how do you respond when it happens," she added.

Businesses globally grappled with an ongoing IT outage today following a faulty software update for Windows hosts pushed out via cybersecurity giant CrowdStrike. The buggy update wreaked havoc on computer systems across sectors, including airlines, hospitals, and government offices. The incident has led some experts to suggest it may be the “largest IT outage in history.” "This is a tough day. Very rarely do you have a systems-issue that causes a blue-screen of death that is so pervasive," Cohesity CEO and President Sanjay Poonen told CNBC Overtime's Jon Fortt. "We've got to make these systems a lot more resilient." "We believe this is an opportunity that is going to cause companies to think about their endpoint strategy overall," added Secureworks CTO Michael Aiello.

Thanks for having me on CNBC Overtime, Jon Fortt and Morgan L Brennan, to discuss the CrowdStrike and Microsoft fallout from today. My message was simple - this is a wakeup call for the industry to focus on one key word -- RESILIENCE!!! I am good friends with both George Kurtz and Satya Nadella, I am confident they will ensure that a combination of #CrowdStrike + #Microsoft offer even better "Integrated Lights-Out Management" for Windows systems + endpoint security in the future. These fixes to systems shouldn't have to be manual at all, should be done much faster and more automated. Equally important, any software that is invasive to the operating system, like #CrowdStrike, needs to have even higher quality and enterprise robustness before releases. Finally, we at Cohesity remain committed to offering joint customers the best and fastest CYBER-RECOVERY of their DATA, in close partnership with both these security players (more on our website about how we can help for various scenarios). This is not a moment for ambulance chasing, or for competitors to do anything other than make the United States and the world, MORE RESILIENT. The next time this happens, it could well be nefarious attacks by nation-state actors... Recording here: https://lnkd.in/ghChcwyV

Consumer spending was a hot topic today after American Express raised its full year guidance. The company reported strong card spending in its second quarter earnings results. In contrast, several luxury names issued warnings on slowing demand. For Mickey Drexler, Alex Mill chairman and former J.Crew CEO and Chairman, the state of the consumer is "confusing."

Netflix delivered a beat on its top and bottom lines in its Q2 earnings report but shares fell on light third quarter revenue guidance. The streamer reported results that showcased the media giant’s position at the head of the streaming race as it added more global subscribers and saw its advertising business bloom. Propagate Content Chairman and Co-CEO and former NBCUniversal Co-Chairman Ben Silverman says Netflix still has plenty of opportunity for growth beyond just subscribers. "Netflix is going to be the most pure-play player in this space and only has upside in starting to monetize their content through commerce– outside of their consumer commerce and growing subscribers– but in building brands off the shows they own."

Netflix delivered a beat on its top and bottom lines in its Q2 earnings report today but shares fell on light third quarter revenue guidance. The streamer's earnings results showcased the media giant’s position at the head of the streaming race as it added more global subscribers and saw its advertising business bloom. Propagate Content Chairman and Co-CEO and former Co-Chairman of NBCUniversal Entertainment Ben Silverman said Netflix still has a lot of room for growth beyond just subscriptions. "Netflix is going to be the most pure-play player in this space and only has upside in starting to monetize their content through commerce, outside of their consumer commerce and growing subscribers– but in building brands off the shows they own."

Discover Financial ($DFS) stock gained 3.1% today in after-hours trading after posting strong Q2 earnings, with a beat on the bottom line. BTIG Specialty Finance Analyst and Managing Director Vincent Caintic said despite the beat, Discover reported slower sales volume as consumers are spending less on their credit cards in the current economy. "I think that's something we've seen across the industry, and it does portend to some of the tightening that these credit cards have had and less credit availability that they are therefore giving to their customers."

Shares of United Airlines fell after reporting mixed results for its second quarter earnings. The company saw its profits rise more than 20 percent from last year but its third quarter forecast came in lower than consensus. Despite those results, United Airlines is still “top-tier” for Conor Cunningham, Director of Airlines and Travel Research at Melius Research.

Great chat with Jon Fortt and Kevin Mahn on CNBC Overtime! Marks have shifted the last 5 trading days with small caps crushing everything. Market breadth widening is a good thing! Solidifies the strength of the bull.