business15 days ago
Premarket Stock Movers: DigitalBridge, Praxis, Coupang & More
The article highlights the biggest premarket stock movements involving DigitalBridge, Praxis Precision Medicines, Coupang, and other companies.
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Coupang
All articles tagged with #coupang
Coupang to compensate $1.1 billion over data breach amid founder's apology
South Korean retailer Coupang will compensate 34 million affected users with $1.17 billion in vouchers following a major data breach, with the company and its founder issuing apologies and taking responsibility for the incident.
Coupang CEO Apologizes and Pledges Compensation Amid Data Breach Controversy
Coupang founder Kim Bom apologized for a recent customer data leak, pledged to implement reforms and compensation for affected customers, and faced criticism for not attending parliamentary hearings on the incident. The company has cooperated with authorities to restore leaked data and is planning to announce a compensation plan soon.
Coupang Founder Apologizes for Data Breach Amid Legal and Market Fallout
Coupang founder Kim Bom apologized for a recent customer data breach, pledged to implement a compensation plan for affected customers, and announced efforts to prevent future leaks, amid criticism for his absence from parliamentary hearings and ongoing investigations by South Korean authorities.
Major Stock Market Movers: Nvidia, Micron, Nike, Tesla, Biohaven, Coupang, and More
Stock markets saw mixed movements with Nvidia rising 2% after licensing AI technology from Groq, Coupang surging 8.8% following an internal cybersecurity investigation, and Lam Research approaching record highs. Tesla declined 1.3% amid safety concerns, while Moderna dropped 4.6% as its pandemic vaccine stock continued to decline. Other notable movements included Nike, Micron, and Newmont, with the market volume remaining thin due to the holiday season.
Coupang Shares Rise as Data Breach Impact Is Limited
Shares of Coupang rose about 9% after the company announced it had resolved a cyberattack that exposed limited building entrance codes and some user data, but no payment or login information was compromised, and the hacker was identified as a former employee.
Coupang Faces Legal and Regulatory Scrutiny Over Data Breach
South Korean e-commerce giant Coupang faces a U.S. securities class action lawsuit alleging it misled investors about its data security practices and failed to disclose a major data breach that exposed personal information of over 33 million customers, potentially violating securities laws and prompting investigations.
Coupang Faces Backlash Over Massive Data Breach
Coupang's founder Kim Bom-suk has avoided accountability for a massive data breach affecting 33.7 million customers, highlighting issues with the company's governance structure that allows him to maintain control while shirking responsibility. The incident has sparked public outrage, legal actions, and calls for greater oversight, but Kim remains absent from accountability processes, raising concerns about corporate ethics and social responsibility.
Coupang apologizes for massive data breach affecting 33.7 million customers
South Korea's largest online retailer Coupang suffered a massive data breach exposing nearly 34 million customer accounts, including personal details like names and addresses, but not payment information. The breach, believed to have started in June via an overseas server, is under investigation, and the company has apologized, warning customers to be cautious of scams. This incident is part of a series of cybersecurity breaches affecting major South Korean firms this year.
"JPMorgan's Decline Sparks Stock Futures Slide and Investor Concerns"
Dow Jones futures fell on concerns of a wider Mideast conflict and JPMorgan's impact, while Tesla stock dipped as a long-time bull warned of potential setbacks with its robotaxi plans. Additionally, Coupang saw a jump in stock price following a membership fee increase, and China's order for telecoms to phase out foreign chips affected Intel and AMD stocks. Nvidia stock edged lower after recent gains, and the market rallied with tech stocks leading the way. Bank earnings from JPMorgan, Wells Fargo, Citigroup, and BlackRock were also in focus, with JPMorgan beating first-quarter views but keeping its full-year outlook below analyst forecasts.
"AI Gold Rush: Next Big Stocks to Buy Beyond Nvidia"
Goldman Sachs analysts recommend diversifying portfolios by investing in AI beneficiaries beyond high momentum stocks. They specifically suggest considering Pinterest, a visually oriented social media platform with a focus on AI technology, Coupang, a Korean e-commerce leader utilizing AI-powered machine learning, and Amazon, a global online retail giant with a wide range of AI-driven services. These companies have shown strong financial performance and are expected to benefit from the broadening AI trade.
"5 Explosive Growth Stocks to Snag in February"
The S&P 500 index is performing well, and three growth stocks - Toast, Walt Disney, and Coupang - are expected to rally in February. Toast, a disruptive tech stock in the restaurant industry, is showing strong growth potential despite being unprofitable. Disney is turning the corner with its streaming division and theme parks business, while Coupang, a South Korean e-commerce company, is positioned for long-term growth and profitability. These stocks are trading at low valuations and could offer significant returns in the future.
Farfetch Secures Lifeline with Coupang Acquisition
South Korean eCommerce giant Coupang has acquired struggling luxury retailer Farfetch, providing $500 million to support its operations. The deal allows Coupang to expand its presence in the personal luxury goods market, particularly in South Korea, which has the highest per-capita spending on such goods. The acquisition marks the end of Farfetch's plan to purchase Yoox Net-A-Porter from Richemont. Farfetch has faced challenges in recent years, including falling sales and discontinuing its beauty product sales.
Farfetch Secures $500 Million Lifeline from Coupang in Rescue Deal
South Korean retail giant Coupang has stepped in to save struggling luxury online retailer Farfetch with a $500 million deal, rescuing the company from potential closure. However, this deal also ends Farfetch's planned tie-up with rival Yoox-Net-a-Porter. Farfetch, once valued at $23 billion, has faced challenges due to COVID-19 lockdowns in China and the Russian invasion of Ukraine, as well as a decline in growth. The acquisition by Coupang marks a significant turn of events for Farfetch, which had previously acquired Stadium Goods and New Guards Group for substantial amounts.
Coupang Injects $500 Million to Rescue Troubled Farfetch
South Korean e-commerce company Coupang has agreed to inject $500 million in emergency funding into luxury fashion platform Farfetch as part of a "pre-pack" administration process. The funding will allow Farfetch to continue providing exclusive brands and boutiques with cutting-edge technology and global access to consumers. Coupang, listed on the New York Stock Exchange, has operations in several Asian markets and aims to expand into fashion and luxury goods services. As part of the deal, Farfetch will be taken private and its shareholders' investments will be wiped out. The fate of Farfetch's assets, including Browns and New Guards Group, remains uncertain.