Yahoo!, Microsoft, Amazon: Tech Winners & Losers (Update 1)
NEW YORK (TheStreet) -- Yahoo!(YHOO) dipped 0.7% to $15.69 in Thursday's trade on reports that a hacking collective posted login credentials for thousands of user accounts.
In an email to The Street, Yahoo! confirmed approximately 400,000 Yahoo! and other company users' names and passwords were stolen on Wednesday. Less than 5% of the Yahoo! accounts had valid passwords, according to the Internet giant.
"At Yahoo! we take security very seriously and invest heavily in protective measures to ensure the security of our users and their data across all our products," Yahoo wrote. "We are fixing the vulnerability that led to the disclosure of this data, changing the passwords of the affected Yahoo! users and notifying the companies whose users accounts may have been compromised. We apologize to affected users. We encourage users to change their passwords on a regular basis and also familiarize themselves with our online safety tips at security.yahoo.com."
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The company is also expected to name Ross Levinsohn as its permanent CEO.
SAP(SAP) climbed 2.94% to $58.54, after announcing record preliminary second-quarter results.
The Germany-based software company announced exceptional software revenue growth of 26% year-over-year to €1.06 billion. The growth was at the high end of SAP's forecasted range.
"Our record performance speaks for itself," explained Bill McDermott and Jim Hagemann Snabe, SAP's co-CEOs, in a statement released before market open. "We delivered double-digit growth in all regions driven by strong momentum from the core as well as SAP HANA, mobile and the cloud."
Microsoft(MSFT) shares dropped 2.29% to $28.63 on reports the Seattle, Wash.-based software giant is planning to restructure its marketing operation, a move that may include hundreds of layoffs.