Money Minute: Adobe Hack Worse than Thought; Markets Await Fed Decision

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One of the biggest-ever cyber attacks just got a whole lot bigger. That and more top money stories you need to know Wednesday.

The massive security breach at Adobe Systems (ADBE) was far more extensive than the company disclosed earlier this month. It now says the cyber-attack resulted in the theft of data from more than 38 million customer accounts. That's up from the earlier estimate of 3 million. The company says the hackers stole credit-card information, passwords and other data on Adobe customers. To limit the damage, Adobe has reset passwords and notified all of the affected users.

Bernanke (Chairman of the Federal Reserve Ben Bernanke testifies before the House Financial Services Committee on Capitol Hill i
Charles Dharapak/APFederal Reserve Chairman Ben Bernanke
Keep an eye on the market around 2 p.m. Eastern time today. No policy changes are expected when the Federal Reserve wraps up its two-day meeting, but you never know. And whenever Chairman Ben Bernanke issues a statement about the economy, it reminds me of the old E.F. Hutton slogan: "When Ben Bernanke talks, people listen."

More records fell on Wall Street on Tuesday, with both the Dow the S&P 500 reaching new highs. For the S&P, it's the seventh straight all-time high. The Dow Jones industrial average (^DJI) jumped 111 points, the Standard & Poor's 500 index (^GPSC) rose 9 and the Nasdaq composite index (^IXIC) gained 12.

More and more people are connecting via LinkedIn. The social-network for professionals says the number of users on LinkedIn (LNKD) is up a whopping 38 percent from a year ago, to nearly 260 million. However, the company did post a loss and it warns the pace of growth in the current quarter will slow.

Things might be getting fun again for video-game makers. Shares of Take-Two Interactive Software (TTWO) are set to take off after a big jump in earnings due to huge sales of the fifth version of its "Grand Theft Auto" series.

Rival Electronic Arts (EA) also posted blowout results, mostly because of its football, soccer and other sports-themed games. And both companies issued upbeat outlooks for the holiday shopping season, as new Xbox and PlayStation consoles are set to debut next month.

And Barnes & Noble (BKS) releases an updated version of its black and white Nook e-book reader today. It's lighter, has a sharper display, better battery life and a backlit screen.

-Produced by Drew Trachtenberg.


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