Shares of package delivery service company FedEx (FDX) - Get Report were up by 1.34% to $217.20 late Wednesday afternoon, after shares were halted for most of the late morning, due to an operations hiccup at the company's TNT Express subsidiary.
The company said TNT's operations and communications systems have been "disrupted" but no data breach is known to have occurred. All other FedEx operations have not been affected.
FedEx is working to remedy the situation and is not yet sure what the financial impact of the disruption will be, but it did note that it could be "material."
"I don't think it would be a material impact, assuming this thing is remedied in a relatively expeditious manner," Stephens Inc. analyst Jack Atkins told Bloomberg. "It certainly could be a public relations issue, especially as FedEx is looking to cross-sell its suite of services with TNT."
Robert W. Baird analyst Benjamin Hartford believes the cyberattack could have a short-term impact on FedEx's results, but the impact should be limited since there was no data breach.
What's Hot On TheStreet
The stock market may be overvalued: Now may be the time to pay extra attention to red-hot tech stocks such as Apple (AAPL) - Get Report and Facebook (FB) - Get Report . As TheStreet first reported Tuesday afternoon, asset valuations are somewhat "rich" by standard metrics, Federal Reserve Chair Janet Yellen said in London during a conversation about economic issues with British Academy President Lord Nicholas Stern. Yellen's comments on equity valuation and bank strength closely mirrored Fed Vice Chairman Stanley Fischer's from an IMF event held earlier in the day.
The iPhone has changed how you make money: TheStreet's Scott Gamm is out with a piece that will really get you thinking. Apple's iPhone will turn 10 years old on Thursday. The device not only turned Apple into one of the world's most valuable companies, helping to boost its stock price more than 700%, it also changed the way we invest and trade stocks Gamm points out.
In fact, the original iPhone -- and the current versions -- have an internal stocks app, allowing users to check the broader market indexes and individual stock prices. Having this in your pocket was a big deal 10 years ago.
"I think it's actually made the life for a typical investor much easier," Angelo Zino, an analyst with CFRA Research, told TheStreet. "I think they've been able to tap news flows much quicker."
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