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FedEx warns of possible ‘material impact’ after subsidiary hit bit cyberattack


FedEx’s TNT Express subsidiary was cyber attacked, disrupting operations and communications systems, the company announced Wednesday.

Shares gained after being temporarily halted just before noon ET.

FedEx intraday chart

Source: FactSet

No TNT data was breached, and FedEx’s other operations were not affected, but the attack could have a material financial impact, according to a press release. TNT’s services are moving, though slower.

Only one day before FedEx announced it was hit, cyber attacks crippled companies including Merck and Britain’s WPP, as well as the Ukrainian government.

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