Equifax slides on data breach
Credit reporting agency Equifax (EFX) says a massive data breach has exposed the personal information of up to 143 million Americans. Equifax said the breach started in May and continued until it was discovered on July 29. Some of the information that was stolen included Social Security numbers, birth dates, driver’s license numbers and credit card numbers. Equifax’s stock is down 13.6% as of 11:30 a.m. ET.
Credit Suisse downgrades PepsiCo
Credit Suisse lowered its rating on PepsiCo (PEP) to neutral from outperform, citing concerns about the company’s US beverage business. In a note to clients, analyst Laurent Grandet wrote, “PepsiCo’s US beverage retail sales trends have deteriorated significantly year-to-date, diverging from its primary non-alcoholic competitors.” Shares of PepsiCo have climbed about 10.4% so far this year.
Chipotle slides on ratings cut
Cowen cut its rating on Chipotle (CMG) to “underperform” from “market perform” and lowered its price target to $250 from $370 a share. Analyst Andrew Charles said the Mexican-restaurant chain’s new queso menu is not boosting sales, and its quality and value perceptions are stuck near “trough” levels. Chipotle shares were down 4.1% as of 11:30 a.m. ET.
Williams-Sonoma plans hiring spree
Williams-Sonoma (WSM) announced plans to hold its first-ever National Hiring Day on Thursday, Sept. 14. The company plans to interview for about 4,000 open positions at Williams-Sonoma, Pottery Barn, Pottery Barn Kids, PBteen, Rejuvenation, and West Elm stores.
For more on Friday’s big stock movers and breaking news after the bell, check out The Final Round, starting at 3:55 p.m. ET, on Yahoo Finance.