CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Eamon Javers and CNBC.com's Steve Kovach team up on a deep dive in to the colossal hack of high profile Twitter accounts. Plus, Netflix earnings, Domino's sales spike, and everything else you missed in business news.
Wednesday's Twitter hack wasn't just unprecedented, it was a shocking revelation that the company is ill-equipped to handle the security of a platform that's the backbone of breaking news, government policy and market-moving events on the internet.
So far, all we know for sure from Twitter is that at least one of its own employees were involved in the attack. Twitter described it as "social engineering," which typically means a hacker is able to trick someone into providing their login credentials for access. Twitter has not provided more information on the hack, but said more will come as its investigation continues.
But a report from Vice on Wednesday described a much darker scenario. Vice's reporter said he spoke anonymously with at least some of the hackers involved in Wednesday's attack on Twitter, and they claimed to have paid off a Twitter employee to gain access to a tool that provides deep control over high-profile Twitter accounts.
Netflix reported its second quarter 2020 earnings after the bell on Thursday, the first full quarter to reflect the impact of the coronavirus pandemic. The company announced that Netflix Chief Content Officer Ted Sarandos will become co-CEO alongside current CEO Reed Hastings. He will retain his current role and also join the Board of Directors. Chief Product Officer Greg Peters will also serve as COO.
Netflix missed analyst expectations on earnings per share but beat revenue expectations. Shares fell more than 12% after hours as the company provided weak subscriber growth guidance for the third quarter.
Domino's Pizza on Thursday reported that its quarterly U.S. same-store sales soared 16.1% as more consumers ordered pizza delivery and takeout during the coronavirus pandemic.
During the quarter ended June 14, net sales rose 13.4% to $920 million, topping expectations of $911.5 million.
U.S. same-store sales increased by 16.1%, while international same-store sales grew by just 1.3%, due to more store closures. Its international markets saw as many as 2,400 locations closed at its lowest point, but as of July 8, fewer than 600 of its restaurants were temporarily shuttered.