This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Sony's New Movie to Slam Target

NEW YORK (TheStreet) --Target (TGT - Get Report) has struggled to get customers back into its stores since late last year when it was revealed that 40 million customers had their credit-card numbers stolen at the retailer's stores.

Now Sony (SNE) has picked up the movie rights to the data-breach scandal.

Sony has picked up the rights to a New York Times story called Reporting from the Web's Underbelly. The story centers on cybersecurity blogger Brian Krebs, who exposed the data breach at Target's stores. The movie should be entertaining, as Krebs has had his identity stolen numerous times, received fecal matter in the mail and had to deal with a SWAT team that was sent to his home.

Richard Wenk -- whose works include 16 Blocks, The Mechanic and The Expendables 2 -- will write the screenplay for Sony.

One recent movie about online security -- The Fifth Estate -- bombed at the box office. Shot with a budget of $28 million, the Disney (DIS) movie made only $3.3 million domestically and $8.6 million worldwide.

For Target, the box office won't matter as much as that Sony's movie will bring the data-breach story into the limelight again and may bring up the fact that Target found out about the data breach before it originally let on.

Shares of Target -- which traded as high as $73.50 last summer -- closed Wednesday at $59.20, down 6.4% so far this year.

Only 33% of United States households shopped at a Target store in January, compared with 43% the prior year, and earnings for the company's fiscal fourth quarter ended on Feb. 1 fell 46% on costs associated with the security breach and lower sales.

Target didn't immediately return a request for comment.

At the time of publication, the author had no position in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
TGT $76.23 -1.90%
AAPL $129.09 0.00%
FB $79.36 -0.49%
GOOG $573.69 0.41%
TSLA $199.04 0.87%

Markets

DOW 18,200.42 -88.21 -0.48%
S&P 500 2,108.25 -9.14 -0.43%
NASDAQ 4,978.6030 -29.4930 -0.59%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs