AT&T, VZ Stocks Edge Down In Premarket After Carriers Confirm Networks Secure Following Chinese ‘Salt Typhoon’ Cyberattack
By Stocktwits Inc | First Published Dec 30, 2024, 6:51 PM ISTCyberattack tied to the Chinese government penetrated U.S. broadband providers' networks, WSJ reported.
Shares of telecom giants AT&T Corp. ($T) and Verizon Communications, Inc. ($VZ) changed very little in premarket trading on Monday after the companies confirmed that they had staved off a Chinese threat to their telecommunications networks.
Wall Street Journal reported that a cyberattack tied to the Chinese government penetrated the networks of U.S. broadband providers, potentially accessing confidential information. Citing people familiar with the network, the report said the hacking campaign, dubbed “Salt Typhoon” by investigators, might have had access to the network infrastructure used to cooperate with the lawful U.S. requests for communications data.
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The recently discovered intrusion showed Verizon, AT&T, and Lumen Technologies, Inc. ($LUMN) seeing their networks violated.
The Journal previously reported the Chinese hacking attempts in late September.
A Bloomberg report said both AT&T and Verizon confirmed that their networks were hit by ‘’Salt Typhoon” hacking operation. The former reportedly said a ‘’small number of high-profile customers in governments and politics” were targeted, while Verizon confirmed that it has contained the activities associated with this particular incident.
A White House spokesperson reportedly confirmed Friday that the government identified a ninth telecom company impacted by the Chinese hacking attacks.
On Stocktwits, sentiment toward Verizon improved from ‘bearish’ a day ago to ‘neutral’ (45/100) and message volume remains ‘low.’
Sentiment toward AT&T stock has turned ‘bearish’ (43/100) from ‘neutral’ a day ago, with message volume staying ‘low.’
AT&T has gained about 45% this year and Verizon is up a more modest 13%.
In premarket trading, AT&T was down 0.17% at $22.82, as of 7:42 a.m. ET, and Verizon was slipping 0.10% at $39.88.
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