Xoom Shares Drop After $31 Million Stolen

Xoom Corp. shares fell in the extended session after the online money-transfer company reported the theft of corporate cash and the departure of its chief financial officer. Xoom shares fell 14% to $14.50 on moderate volume. Xoom said thieves impersonating employees transferred $30.8 million in cash to overseas accounts. The company said it will take a fourth-quarter charge in that amount. Xoom said it believes no customer data or money, nor company systems were affected by the breach. Analysts surveyed by FactSet had expected fourth-quarter earnings of 5 cents a share on revenue of $41.7 million. Xoom is scheduled to report in February. Xoom also announced its CFO Matt Hibbard resigned. Hibberd's departure "is not the result of any disagreement or dispute with the Company," Xoom said. Ryno Blignaut will replace Hibbard as acting CFO, Xoom said.