• 2 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Delta is suing CrowdStrike.

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Sports
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04Wall Street is on the mend to start a new week after the S&P 500 snapped a six-week
00:09winning streak.
00:10The tech-heavy Nasdaq is at a record high ahead of earnings from some of its biggest
00:14players.
00:15In addition, oil prices are sharply lower after Israel's attack on Iran failed to disrupt
00:20global energy supplies.
00:22In other news, Delta and CrowdStrike are officially heading to court.
00:26The airline is suing the software security firm for causing the massive computer outage
00:31in July that forced Delta to cancel more than 7,000 flights.
00:35Some 1.3 million passengers were impacted over a five-day period.
00:40The failed software upgrade knocked computers offline around the globe, including those
00:44of Delta's rivals.
00:45Delta, however, struggled more than any other company to get back online.
00:50Nevertheless, its lawsuit clearly pins the blame on CrowdStrike.
00:55Because the faulty update could not be removed remotely, CrowdStrike crippled Delta's business
01:00and created immense delays for Delta's customers.
01:04Delta is seeking reimbursement of more than $500 million, as well as additional money
01:08for lost profits, attorney fees and compensation for reputational harm and future revenue loss.
01:16CrowdStrike responded to the lawsuit with a statement.
01:19Delta's claims are based on disproven misinformation, demonstrate a lack of understanding of how
01:24modern cybersecurity works, and reflect a desperate attempt to shift blame for its
01:30slow recovery away from its failure to modernize its antiquated IT infrastructure.
01:36The Department of Transportation is looking into what happened at Delta during the tech
01:40snafu.
01:41That'll do it for your daily briefing from the New York Stock Exchange.
01:44I'm Conway Gittins with the Street.

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