Core Viewpoint - Truist analyst Junaid Siddiqui has lowered the price target for CyberArk (CYBR) to $455 from $520 while maintaining a Hold rating on the shares, indicating a cautious outlook for the cybersecurity sector in Q4 [1] Group 1: Company Performance - CyberArk is expected to report a strong calendar Q4, with a conservative guidance approach that may lead to a continued beat-and-raise cadence for 2026 [1] - Conversations with IT budget holders and software sellers suggest that demand and the macro environment remain stable, with ongoing momentum in Security & AI initiatives [1] Group 2: Market Environment - Software equities, including those in the cybersecurity sector, are facing significant pressure as investors shift focus towards AI hardware [1] - Concerns regarding AI-driven competitive disruption, slow monetization of AI features, prolonged high interest rates, and geopolitical shocks are impacting the sector, contributing to a decline of about 7% in the IGV – iShares Expanded Tech-Software Sector ETF in the early weeks of trading [1]

Core Viewpoint - Truist has lowered the price target for Fortinet (FTNT) to $88 from $95 while maintaining a Buy rating, indicating a cautious outlook for the cybersecurity sector in Q4 [1] Group 1: Price Target and Ratings - Truist reduced Fortinet's price target to $88 from $95 but retains a Buy rating on the shares [1] Group 2: Q4 Expectations - Companies in Truist's coverage are expected to report strong performance in calendar Q4, with a conservative approach to guidance that could lead to a continued beat-and-raise trend for 2026 [1] Group 3: Market Dynamics - Conversations with IT budget holders and software sellers suggest that demand and the macro environment remain stable, with ongoing momentum in Security & AI initiatives [1] - Despite this, software equities are facing pressure as investors shift focus towards AI hardware, with concerns about AI-driven competition, slow monetization of AI features, and sustained high interest rates impacting the sector [1] Group 4: Sector Performance - The iShares Expanded Tech-Software Sector ETF (IGV) has declined approximately 7% in the first few weeks of trading, reflecting the broader challenges faced by the software sector [1]

Core Viewpoint - WISeKey's subsidiary WISeSat has partnered with Spacetalk to create a neutral platform for global space traffic coordination, addressing the challenges posed by the increasing number of satellites and the lack of a unified international framework [1][2][5] Group 1: Partnership and Platform Development - WISeSat and Spacetalk signed a Memorandum of Understanding (MoU) to prepare for a strategic partnership aimed at operating an innovative platform for space traffic coordination [1] - The Spacetalk platform is designed to be transparent, collaborative, and non-discriminatory, focusing on preventing collisions, reducing space debris, and ensuring equitable access to space [2][4] Group 2: Security and Access - WISeSat enhances the Spacetalk initiative by providing secure access through personal digital identities issued via WISeKey's WISeID services, ensuring that only verified actors can access the platform [3] - The platform is open to all global space actors, including civil, institutional, commercial, and academic entities, promoting operational dialogue and secure information sharing [4][8] Group 3: Challenges in Space Traffic Management - The increasing congestion in the orbital environment, driven by satellite expansion and space debris accumulation, necessitates improved coordination among space actors to mitigate collision risks and operational costs [5] - Spacetalk aims to address these challenges by facilitating continuous operational dialogue and essential information sharing among stakeholders, including competing nations [5][10] Group 4: Pilot Phase and Results - During the pilot phase in October 2025, participants accessed the Spacetalk platform through a secure authentication process and shared orbital data, enhancing space situational awareness [6][7] - The pilot included major space organizations from Europe and Asia, demonstrating the platform's ability to unite diverse stakeholders for collaborative dialogue [8] Group 5: Future Outlook - The successful pilot phase has led to the official launch of the Spacetalk platform, which aims to provide immediate solutions for space safety without waiting for international political consensus [9][10] - The platform is designed to be compatible with existing standards and national Space Situational Awareness (SSA) and Space Traffic Management (STM) systems, contributing to responsible space governance [12]

Investment Rating - The report does not explicitly provide an investment rating for the food industry Core Insights - The food industry is undergoing significant changes, necessitating enhanced leadership skills to navigate evolving organizational dynamics and stakeholder expectations [6][7] - FMI and Oliver Wyman emphasize the importance of understanding industry trends and consumer needs to adapt strategies effectively [8][10] - The report highlights the urgency for food industry leaders to embrace technology, health and wellness, and consumer-centric approaches to remain competitive [11][12] Summary by Sections Eyeing New Realities For Food Industry Leadership - The food industry is characterized by constant change, requiring leaders to adapt quickly and guide their organizations through uncertainty [6][7] - FMI's research indicates that industry strategies focus on navigating macroeconomic challenges and evolving consumer preferences [11] Existing and New Technology - Food retailers are investing approximately 1% of total sales, over $10 billion, into technology budgets, with suppliers spending around 1.5% [24] - The report identifies a growing interest in artificial intelligence and automation to enhance efficiency and productivity amid rising costs and labor challenges [23][24] - Key technology initiatives include the use of AI for internal processes, product traceability, and digital shelf space monetization [28] Consumer and Retail Health - Nearly half of shoppers are making more effort towards healthy eating, with 62% believing there is room for improvement in their diets [143] - The grocery store is evolving into a solution-oriented destination that supports consumer health and well-being through various initiatives [146][147] - Consumer goods companies are urged to embrace health and wellness trends, recognizing the market opportunity of $90 billion in restricted spend benefits programs [151][152] Managing Indirect Spend in Consumer Goods - Indirect spend represents 6% to 8% of revenues, often overlooked but a significant source of potential savings [33] - Companies can reduce indirect spend by 10% to 15% over three years through comprehensive operating systems and innovative sourcing strategies [36] - Effective management of indirect spend requires a coordinated approach focusing on buying cheaper, spending better, and spending less [36] Incident Preparedness in Retail - Organizations must treat cybersecurity as a business continuity issue, with proactive preparation critical to minimizing operational and financial impacts [48][49] - Effective incident response requires coordination across departments and a well-rehearsed response plan to manage potential crises [56][63] - Continuous improvement in cyber readiness is essential, with organizations encouraged to learn from incidents and close calls [76][78]

Core Insights - CrowdStrike and Cisco Systems are prominent players in the cybersecurity sector, with CrowdStrike focusing on endpoint protection and AI-native cloud security through its Falcon platform, while Cisco is enhancing its offerings in Threat Intelligence, Detection, and Response [1][2] Industry Overview - The cybersecurity market is expected to grow at a CAGR of 12.28% from 2026 to 2030, driven by increasing complex attacks such as credential theft and social engineering [2] CrowdStrike Analysis - CrowdStrike's Falcon platform is recognized as the first multi-tenant, cloud-native security solution, securing various environments and endpoints [4] - The platform offers 29 cloud modules under a subscription model, with subscription sales increasing from 72% in fiscal 2017 to 95% in fiscal 2025 [5] - In Q3 fiscal 2026, Annual Recurring Revenues (ARR) from Falcon Flex customers reached $1.35 billion, growing over 200% year-over-year, indicating strong customer value perception [6] - However, CrowdStrike's revenue growth has decelerated from over 35% year-over-year in fiscal 2024 to an expected 21-22% in fiscal 2026, with projected revenues between $4.797 billion and $4.807 billion [7] Cisco Systems Analysis - Cisco Systems is expanding its security business with new products like Secure Access and AI Defense, achieving good customer adoption with nearly 3,000 customers purchasing new solutions in Q1 fiscal 2026 [8][10] - The acquisition of Splunk has contributed to strong growth in ARR and performance obligations, with significant deals enhancing Cisco's security portfolio [9] - Cisco's new products, such as Cisco Unified Edge and Cisco Data Fabric, are designed to support AI-related needs, further strengthening its market position [11][12] Earnings Estimates Comparison - CrowdStrike's fiscal 2026 earnings estimate is $3.71 per share, reflecting a year-over-year decline of 5.6% [13] - In contrast, Cisco's fiscal 2026 earnings estimate is $4.10 per share, indicating a year-over-year increase of 7.61% [14] Price Performance and Valuation - Over the past six months, Cisco shares have risen by 11.2%, while CrowdStrike shares have decreased by 5.8% [16] - Cisco is trading at a forward sales multiple of 4.81X, significantly lower than CrowdStrike's 19.75X, making Cisco more attractive for value-seeking investors [17] Conclusion - Cisco Systems has a competitive edge over CrowdStrike due to its strong security portfolio and reasonable valuation, making it an appealing option for investors looking for growth in the cybersecurity sector [20][21]

Core Viewpoint - A class action lawsuit has been filed against Coupang, Inc. for allegedly misleading investors regarding its cybersecurity practices, leading to significant financial losses during the specified class period [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who acquired Coupang securities from May 7, 2025, to December 16, 2025 [1]. - The complaint claims that inadequate cybersecurity protocols allowed a former employee to access sensitive customer information undetected for nearly six months [3]. - Following the cyber event, Coupang's CEO resigned, which contributed to investor losses [3]. Group 2: Investor Information - Investors who purchased Coupang securities during the class period have until February 17, 2026, to seek appointment as lead plaintiff representatives [2]. - Interested investors can contact Berger Montague for more information regarding their rights [4][5]. Group 3: Law Firm Background - Berger Montague is a prominent law firm specializing in complex civil litigation and class actions, with over $2.4 billion in post-trial judgments in 2025 [4]. - The firm has recovered over $50 billion for clients over its 55-year history, indicating a strong track record in handling significant legal cases [4].

Core Viewpoint - Hagens Berman is notifying investors about a pending securities class action against Coupang, Inc. regarding alleged misrepresentation of cybersecurity protocols and a significant data breach affecting customer information [1][2]. Group 1: Legal Proceedings - The lead plaintiff deadline for the class action lawsuit is set for February 17, 2026 [3]. - The expanded class period for affected investors is from May 7, 2025, to December 16, 2025 [3]. - The key allegation involves delayed disclosure of a cybersecurity breach detected on November 18, 2025 [3][4]. Group 2: Allegations and Breach Details - The lawsuit claims that Coupang misled investors by assuring them of adequate cybersecurity measures while failing to disclose a breach that allowed unauthorized access to sensitive customer data [2][4]. - On November 29, 2025, Coupang revealed that its internal systems were compromised, affecting approximately 33.7 million customer accounts in Korea [7]. - The breach is believed to have started on June 24, 2025, via overseas servers [7]. Group 3: Executive Changes and Regulatory Actions - Coupang's CEO, Park Dae-joon, resigned on December 10, 2025, in connection with the data leak incident, and Harold Rogers was appointed as interim CEO [7]. - On December 16, 2025, Coupang acknowledged awareness of the cybersecurity incident on November 18, 2025, prior to public disclosure [7]. - Korean regulators have initiated investigations into the breach, and Coupang is cooperating fully [7]. Group 4: Compensation and Future Actions - Following the breach, Coupang announced a compensation plan of 1.685 trillion won (over $1 billion) to restore customer trust [7]. - Reports suggest that the breach may have involved authentication keys that were valid for an extended period, raising questions about the adequacy of Coupang's cybersecurity protocols [8].

Core Viewpoint - SPDR S&P Kensho Future Security ETF (FITE) provides exposure to companies involved in cybersecurity, defense technology, secure communications, and related fields, balancing growth and resilience attributes across its portfolio [1] Group 1: Investment Proposition - FITE's design includes software platforms, specialized hardware, sensors, and integrators, focusing on both digital security and dual-use technologies for public and private markets [1] - The ETF's cash-flow profiles often feature recurring software revenues alongside program-based hardware cycles, enhancing its growth and resilience [1] - FITE can serve as a thematic satellite for crisis management in light of ongoing cyber threats and can complement multi-asset allocations seeking defensive growth [1] Group 2: Market Conditions and User Base - The investment theme is favored during periods of increased security spending, tighter regulatory requirements, and enterprise architecture refreshes [1] - Potential users of FITE include multi-asset allocators looking for defensive-growth opportunities and equity strategists aiming to build targeted technology investments [1] Group 3: Risks and Challenges - The ETF may face challenges from valuation compression in growth segments and elongated procurement timelines [1] - A specific risk to monitor is event risk related to large contract awards or losses, as well as regulatory changes affecting sensitive technologies, which can lead to market dispersion [1]

Core Viewpoint - Hagens Berman is notifying investors about a pending securities class action against Coupang, Inc. regarding alleged misrepresentation of cybersecurity protocols and a significant data breach affecting customer information [1][2]. Group 1: Legal Proceedings - The lead plaintiff deadline for the class action lawsuit is set for February 17, 2026 [4]. - The class period for the lawsuit covers transactions from May 7, 2025, to December 16, 2025 [4]. - The key allegation involves delayed disclosure of a cybersecurity breach detected on November 18, 2025 [4]. Group 2: Allegations and Breach Details - The lawsuit claims that Coupang misled investors by assuring them of adequate cybersecurity measures while concealing a breach that allowed unauthorized access to sensitive customer data [2][5]. - On November 29, 2025, Coupang disclosed that its systems were infiltrated, affecting approximately 33.7 million customer accounts in Korea [7]. - The breach is believed to have begun on June 24, 2025, via overseas servers [7]. Group 3: Executive Changes and Regulatory Actions - Coupang's CEO, Park Dae-joon, resigned on December 10, 2025, in connection with the data leak incident [7]. - Following the breach, Coupang announced a compensation plan of 1.685 trillion won (over $1 billion) to restore customer trust [7]. - Korean regulators have initiated investigations into the incident, and Coupang is cooperating fully [7]. Group 4: Investigation and Whistleblower Information - Hagens Berman is investigating whether Coupang was aware of inadequate cybersecurity practices but failed to disclose this information [6]. - Reports suggest that the breach may have involved a former employee using authentication keys that remained valid for an extended period [8]. - Whistleblowers with non-public information regarding Coupang are encouraged to come forward, with potential rewards under the SEC Whistleblower program [9].

Core Viewpoint - BlackBerry Limited (NYSE:BB) is identified as a promising debt-free penny stock, with RBC Capital maintaining a Sector Perform rating and a price target of $4.50, despite facing near-term challenges in its QNX business due to project deferrals and platform launch delays [1][2]. Financial Performance - QNX revenue grew by only 7% in the third quarter, which is below the long-term target of a 14% compound annual growth rate, indicating a trend towards the lower end of the company's growth expectations [2]. - BlackBerry achieved its third consecutive quarter of GAAP profitability in Q3 FY26, with non-GAAP earnings per share rising to $0.05, surpassing consensus estimates by 25% [2][3]. - Total revenue for the quarter reached $141.8 million, while GAAP net income was reported at $13.7 million, reflecting a significant improvement of $24 million compared to the same quarter last year [3]. Business Focus - BlackBerry has transitioned from manufacturing phones to providing intelligent security software and solutions, emphasizing sectors such as the Internet of Things (IoT), cybersecurity, and embedded systems, particularly in the automotive industry [4].