Home Depot confirms it's investigating 'unusual' activity

Home Depot (HD -2.4%) confirms it's looking into "unusual activity" as it works with law enforcement officials in relation to a possible loss of customer credit card and debit card information.

Early reports indicate the breach occurred in late April and could involve over 2K Home Depot stores.

Shares of Home Depot have recouped a bit from their initial slide after the breach report broke. Some retail analysts called the peeling off of $3.5B in market cap somewhat overdone.

What to watch: If the breach is as large as some banks are reporting, an increased push by the industry toward the adoption of smart card technology could be on the way.

Related EMV stocks: PAY, NCR, MA, V, OTCQX:IFNNY, NXPI,

From other sites
Comments (7)
  • Dirty Capitalist
    , contributor
    Comments (187) | Send Message
    Ironically, when the card merchant fee fight arose as a part of the Durbin ammendment, it was Home Depot who was saying how much money they could save customers by reducing credit card merchant fees. (Of course, at the same time, they were telling their investors how much more money the company would generate if they didn't have to share with the card companies) My local Home Depot still hasn't lowered prices because they pay less to Mastercard and Visa... Still waiting....
    Visa and Mastercard said that they needed to maintain the fraud fighting systems and general networks and the fees helped pay for that. I know my bank has now issued me safer chip enabled credit cards. Sadly, my Home Depot's card readers are the old type and don't yet offer this safer card reader system. Maybe time for them to come off the money they saved from V/MC and put it to use updating their card readers.
    2 Sep 2014, 04:16 PM Reply Like
  • june1234
    , contributor
    Comments (4504) | Send Message
    Need to do what the LV gaming industry has done for many years, hire the cheats/hackers to work for them
    2 Sep 2014, 04:22 PM Reply Like
  • James Bjorkman
    , contributor
    Comments (2778) | Send Message
    Pay cash whenever you can. It's a lot safer.
    2 Sep 2014, 04:59 PM Reply Like
  • King Rat
    , contributor
    Comments (1907) | Send Message
    Sometimes the boring solutions are the best. My grandparents would walk to the bank to get cash before walking to the utility companies then grocery stores and then back to the home that they bought with cash from their "40" hour a week garment factory job. Identity theft, credit card hacking, and all that good stuff were things they never heard about let alone suffered.


    Stuff they did took longer to do but they sure slept easy at night.
    2 Sep 2014, 07:16 PM Reply Like
  • Dirty Capitalist
    , contributor
    Comments (187) | Send Message
    Cash doesn't pay me cash back rewards on every purchase and extend my warranties.
    No, and I don't miss the pile of change on my dresser either. I'll stick to credit cards that get paid off each month.
    3 Sep 2014, 11:22 AM Reply Like
  • James Bjorkman
    , contributor
    Comments (2778) | Send Message
    Nothing is free.
    3 Sep 2014, 11:37 AM Reply Like
  • Upbeat
    , contributor
    Comments (785) | Send Message
    Still waiting for facts instead of speculating.
    For example, the "some banks" that are not identified here.
    And from your previous Breaking News, "massive" without any support.
    You may be correct, but please share what you actually know.
    2 Sep 2014, 06:10 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs