Technology firm Cisco Systems said that hackers have subverted some of its digital security devices to break in to government networks globally. In a blog post published on Wednesday, the company said its Adaptive Security Appliances - pieces of equipment that roll several different digital defense functions into one - had previously unknown vulnerabilities that had been exploited by a group of hackers they called "UAT4356." The blog post described the group as a "sophisticated state-sponsored actor" and said that the company's investigation found victims that "involved government networks globally."
J.P. Morgan analyst Samik Chatterjee downgraded shares of networking-equipment firm Cisco to Neutral from Overweight, with a new target of $52, down from $63.
In the latest trading session, Cisco Systems (CSCO) closed at $48.32, marking a +0.44% move from the previous day.