The World’s Biggest Meat Supplier Was Just Hit with a Cyberattack

For the world to be so unprepared for attacks just isn’t acceptable. Now, just weeks after the Colonial Pipeline attack, the world’s largest meat supplier, JBS USA was attacked, according to USA Today. “The company took immediate action, suspending all affected systems, notifying authorities and activating the company’s global network of IT professionals and third-party experts to resolve the situation,” the company said. “The company’s backup servers were not affected, and it is actively working with an Incident Response firm to restore its systems as soon as possible.” It’s another reason why the world needs cybersecurity in place, with companies like Plurilock Security (TSXV:PLUR) (OTC:PLCKF), Proofpoint Inc. (NASDAQ:PFPT), Crowdstrike Holdings Inc. (NASDAQ:CRWD), Rapid7 Inc. (NASDAQ:RPD), and Zscaler Inc. (NASDAQ:ZS).

The one-two punch of the recent cyberattacks “shows that nothing is safe,” said former senior Department of Homeland Security official Paul Rosenzweig, as quoted by USA Today. “Not the meatpacking industry, … Read more

Cannabis Producer Hexo Buys Rival Redecan Pharm For $925 Million

Hexo Corp. (TSX:HEXO) is buying privately held cannabis producer Redecan Pharm in a deal worth $925 million.

Hexo will pay $400 million in cash and $525 million in shares to acquire Redecan. After the deal closes, Redecan shareholders will own 31% of the combined entity and will be permitted to nominate two directors to Hexo’s board of directors.

The transaction is subject to regulatory approvals and a vote by Hexo shareholders to approve the share issuance. Hexo said it expects the transaction to close in the third quarter of this year.

The deal marks the latest salvo among producers to win market share in Canada’s hotly-contested legal cannabis industry.

Canadian cannabis companies have been in a period of consolidation over the past six months as an oversupplied market coupled with a highly-regulated domestic industry that is struggling to become profitable has forced some producers to seek growth through mergers and … Read more

S&P Heads Higher for 4th Month in a Row

The S&P 500 climbed slightly on Friday to close its fourth straight positive month amid growing optimism over the U.S. economic recovery.

The Dow Jones Industrials amassed 64.81 points to end the day and the week to 34,529.45.

The S&P 500 added 3.23 points to 4,204.11.

The NASDAQ stayed in the green 12.46 points to 13,748.74.

The blue-chip Dow took on 0.9% and the S&P 500 advanced 1.2% this week, both breaking a two-week losing streak. The NASDAQ rose 2.1% to post its best weekly performance since April 9.

For the month of May, the 30-stock Dow gained 1.9% and the S&P 500 jumped 0.6%, posting their fourth up months in a row. The tech-heavy NASDAQ, however, suffered a 1.5% loss this month for its first negative month in seven.

Markets in the U.S. will be closed Monday for Memorial Day

Salesforce shares popped more than 5% Friday after the … Read more