NEW YORK, NY / ACCESSWIRE / October 3, 2017 / Shares of Hewlett Packard climbed higher yesterday despite a report revealing that the company allowed a Russian defense agency to comb its ArcSight software that is used by the Pentagon. Shares of VirnetX also closed up higher and soared as much as over 60% after it was revealed that its lengthy patent infringement suit with Apple may be now over.
RDI Initiates Coverage on:
Hewlett Packard Enterprise Company
VirnetX Holding Corp.
Hewlett Packard Enterprise Company's shares closed up 1.77% on Monday with nearly 13.7 million shares traded. Reuters' reports revealed yesterday that Hewlett Packard Enterprise had allowed a Russian defense agency named Echelon, to scrutinize its ArcSight software that is used by the Pentagon. The agency combed HPE's software's source code and inner workings so HPE could win approval from regulators so that it could market ArcSight to public sector firms in the country last year. According to former ArcSight security architect Greg Martin, "It's a huge security vulnerability. You are definitely giving inner access and potential exploits to an adversary." HPE's ArcSight is used by the military to protect its computer networks.
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VirnetX Holding Corp's shares closed up a little over 42% on Monday with around 3.6 million shares traded. The stock also hit a new high of $6.36 during intra-day trading after it was revealed that the company's long-running patent infringement suit against Apple might be over. TradeHawk tweeted a link to a final judgment order from the VirnetX-versus-Apple case at the district court level in the East Texas judicial district that showed that the case had been closed and that all remaining motions were denied as moot. The final verdict was ordered sealed until Apple and the company agrees on how to redact the judgment for public disclosure. The document should be available by October 13th. Shares of the communications security expert jumped as high as over 60% yesterday after traders digested the news.
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