CDK Global (CDK) Stock

PLEASANTON, Calif.--(BUSINESS WIRE)--Tekion, innovator of the first cloud-native platform serving the entire automotive retail ecosystem, today filed a federal antitrust lawsuit against CDK Global, Inc. (“CDK”) accusing CDK of engaging in a systematic scheme to thwart competition in the franchise dealer management system (DMS) market. “CDK's technology is outdated. Instead of innovating and competing fairly, CDK has resorted to unfair and anticompetitive business tactics to protect its dominant.

Recursion Pharmaceuticals, Inc. expects to meet with the FDA to discuss the potential of advancing REC-994 for the treatment of patients with cerebral cavernous malformation. REC-1245 is a CDK12-adjacent target being developed in a phase 1/2 study for the treatment of patients with biomarker-enriched solid tumors and lymphomas. Data from the phase 1/2 study, exploring the use of REC-1245 for the treatment of patients with biomarker-enriched solid tumors/lymphomas, is expected by the end of 2025 or 1st half of 2026.

DULUTH, Ga.--(BUSINESS WIRE)--Asbury Automotive Wins Preliminary Injunction Against CDK Global LLC.

Asbury Automotive Group is an auto retailer operating primarily in the Sun Belt and Mountain West of the United States. The company has significantly outperformed the Consumer Discretionary Select Sector SPDR Fund ETF in 2024. I expect this outperformance to continue thanks to an attractive earnings and free cash flow yield, coupled with a sector-wide benefit from lower Fed funds.

CDK Global is reportedly restoring its systems that were hacked and expects to have all the car dealerships using its platform live by the morning of July 4.

Software company CDK Global said it has managed to bring a batch of U.S. car dealerships back on to its system after a cyberattack severely disrupted their operations last week, raising hopes the issue can soon be resolved.

CDK cyberattack results in operational chaos in the auto retail industry, forcing dealerships into manual mode and sparking industry-wide cybersecurity reassessments.

Group 1 Automotive Inc. GPI, -0.36% said Monday the cyber-attack at software provider CDK Global last week has disrupted its business applications and processes at U.S. operations that rely on CDK's dealers' systems. “In response, the company immediately activated its cyber incident response procedures and proactively took measures to protect and isolate its systems from CDK's platform,” Houston-based Group 1 said in a statement.

HOUSTON , June 24, 2024 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), a Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., today announced that the cybersecurity incident recently experienced by third-party software provider, CDK Global LLC ("CDK"), has disrupted Group 1's business applications and processes in its U.S. operations that rely on CDK's dealers' systems.  In response, the Company immediately activated its cyber incident response procedures and proactively took measures to protect and isolate its systems from CDK's platform.