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EMC’s Data Breach Cost $66 Million
Between April and June 2011, EMC spent $66 million handling the fallout from a March cyber attack against its systems, which resulted in the compromise of information relating to the SecurID two-factor authentication sold by EMC’s security division, RSA.
That clean-up figure was disclosed last week during an EMC earnings call, by David Goulden, the company’s chief financial officer. It doesn’t include post-breach expenses from the first quarter, when EMC began investigating the attack, hardening its systems, and working with customers to prevent their being exploited as a result of the attacks.
In spite of the breach, EMC reported strong second-quarter financial results, earning consolidated revenue of $4.85 billion, which is an increase of 20% compared with the same period one year ago. Meanwhile, second-quarter GAAP net income increased by 28% from the same period last year, to reach $546 million. The company saw large growth in its information infrastructure and virtual infrastructure products and services, including quarterly revenue increases of 19% for its information storage group.
Those results led executives to increase their financial outlook for 2011 and predict consolidated revenue in excess of $19.8 billion, which would be a 16% increase from EMC’s 2010 revenues of $17 billion.
Is Sprint’s Future Questionable?
August 4, 2011 by admin
Filed under Smartphones
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Sprint Nextel Corp’s shares fell sharply on Thursday as heavy subscriber losses in the second quarter called into question the strategy and outlook of the No. 3 U.S. wireless company.
Sprint had spent heavily to promote its service and better compete against larger carriers Verizon Wireless and AT&T Inc. But that strategy backfired as profit margins eroded and customer losses persisted.
The weak results overshadowed Sprint’s announcement of a $9 billion network contract with start-up LightSquared, and sent the stock tumbling to its lowest point since February before recovering a little to close down 16 percent.
Investors questioned whether Sprint would be able to meet its 2011 targets after such a disappointing showing.
“Their cost of doing business went up dramatically,” said Piper Jaffray analyst Christopher Larsen. “People have less confidence they can meet expectations.”
Sprint’s operating profit margin of 16.3 percent was well below the average Wall Street estimate of around 19 percent as the company had changed its product rebate terms in an effort to combat Verizon Wireless’ sale of the Apple Inc iPhone, and an iPhone discount at AT&T.
But the bet did not pay off as Sprint still saw defections of 101,000 net subscribers — also known as post-paid customers — compared with analysts’ expectation for losses of 15,000.
SpyEye Poses Risk To Banking Defenses
Financial institutions are facing more trouble from SpyEye, a piece of malicious software that steals money from customers online bank accounts, according to new research from security vendor Trusteer.
SpyEye is a dastardly piece of malicious software: it can harvest credentials for online accounts and also initiate transactions as a person is logged into their account, literally making it possible to watch their bank balance drop by the second.
In its latest versions, SpyEye has been modified with new code designed to evade advanced systems banks have put in place to try and block fraudulent transactions, said Mickey Boodai, Trusteer’s CEO.
Banks are now analyzing how a person uses their site, looking at parameters such as how many pages a person looks at on the site, the amount of time a person spends on a page and the time it takes a person to execute a transaction. Other indicators include IP address, such as if a person who normally logs in from the Miami area suddenly logs in from St. Petersburg, Russia.
SpyEye works fast, and can automatically and quickly initiate a transaction much faster than an average person manually on the website. That’s a key trigger for banks to block a transaction. So SpyEye’s authors are now trying to mimic — albeit in an automated way — how a real person would navigate a website.
Nokia Had Horrible Quarter
July 27, 2011 by admin
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Nokia has just posted very disturbing quarterly results this morning. The European smartphone giant outlook appears to be getting worse and CEO Stephen Elop has acknowledged that things will not turn around overnight.
Elop is reporting that Nokia’s operating profit is down 44 percent since Q1 and sales of mobile devices are down 23 percent consecutively. While the overall sales of mobile phones and smartphones are down, along with average selling prices.
Elop labelled the results as “clearly disappointing” and went on to say that competitive pressures are continuing. He tried to paint a somewhat more positive outlook for the rest of the year, thanks to Nokia’s clear strategy and several major product launches.
Hackers Creating Networking Website
July 25, 2011 by admin
Filed under Around The Net, Internet
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Anonymous, which has taken credit for several high-profile cyber attacks in recent months, plans to launch what it says will be a new social networking site called AnonPlus.
The group’s move was apparently spurred by Google’s decision to shut down Anonymous’ Google+ account for community standard violations, a report by Mashable says.
For the moment, at least, AnonPlus appears to be little more than a single, somewhat poorly formatted page explaining what the site will be about.
“This lil info dump of a site is here simply to dispence (sic) info, soon the actual site will go up and you can begin to interact with it,” a message on the site notes.
“This project is not overnight and will take many of those out there who simply want a better internet,” the message noted. “We will not be stopped by those looking to troll or those willing to stop the spreading of the truth.”
The message doesn’t mention Google shutting down Anonymous’ Google+ account, but it does promise members that with AnonPlus there would be no fear of “censorship”, “blackout” or “holding back.”
T-Mobile Will Offer Unlimited Data Plans
July 24, 2011 by admin
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Wireless telecom firm T-Mobile USA said it will begin offering unlimited data service plans, in a move aimed at snagging customers of bigger rivals Verizon Wireless and AT&T Inc which have discontinued offering such plans.
T-mobile, a unit of Deutsche Telekom AG, said the new plans will become available from July 24. The unlimited plans will be available with a two-year agreement for new and existing customers.
Verizon Wireless, the biggest U.S. mobile provider, said earlier in July it will stop offering unlimited data service plans, meaning higher prices for heavy users of services such as mobile Web surfing.
AT&T had stopped offering unlimited data services last year.
Cisco And HP At Odds Over Catalyst 6500
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It appears that HP is calling Cisco out on its advertisement that it’s new improved Catalyst 6500 switch is better than anything HP has to offer. As many IT professionals already know Cisco finally introduced the long-awaited upgrade to the very popular Catalyst 6500. The new Catalyst it equipped with Cisco’s Supervisor Engine 2T, a 2-terabit card which can manage 80 Gbps and triples the 6500′s throughput from 720 Gbps to 2Tbps and quadruples the number of devices that can connect to the network. These stats are based on literature from Cisco’s point of view. Cisco also states that an upgrade to Supervisor 2T on existing Catalyst switches would cost customers around $38,000. However, Cisco is saying if you went the same upgrade path with a comparable HP switch architecture; it would cost the customer more than $100,000 and would only give the customer 720 Gbps of throughput.
nVidia’s Tegra 3 Coming To Smartphones
July 18, 2011 by admin
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It appears as though Nvidia’s next generation quad-core Kal-El (Tegra 3) quad core SoC will also show up on smartphones too. Originally, it was believed that the SoC would only support the ever growing tablet space.
Inside sources have confirmed that projects are already underway and that Tegra 3 aka Kal-El smartphones will be make a debut as well.
Nvidia had hoped to get a lot of play out of Tegra 2, unfortunately the chip was not as embraced as Nvidia had wanted. Even though the Tegra 2 SoC did manage to get a few design wins.
Cisco To Cut Thousands Of Jobs
Word the street is that router giant Cisco is about to cut 14 percent of it’s worldwide workforce which is thought to be around ten thousand people.
The reports are saying that seven thousand people will be given pink slips by the end of August; and the other three thousand unfortunate souls will take an early retirement option.
It seems as though many companies go this route when the executive team does not adjust to the changing technology market; they try to boost profits in the short-term by firing those who have worked so hard for the company. That said, the massive cuts are expected to save Cisco about $1 billion in 2012. A company spokesperson told Bloomberg that additional cost cutting procedures will also be instituted.
Google+ Is A No Go In China
The United States biggest creditor (China) has taken steps to stop Google+ right after it was debuted to the world yesterday. While some people may claim it is all part of a communist plot to crack down on dissent; this time it may not be the case this go round.
For those of you, who are late to the game, be advised that Google+ is the firm that tried to introduce social networking to China. Again social networking is thought to be a threat for oppressive governments because it allows its populations to share information and gossip. Therefore, it would seem apparent that the Chinese might be a little cautious about allowing a social networking environment in the country.
That said, it was revealed by Microsoft that cloud based operations in other countries, which are run by American companies fall under the jurisdiction of the US Patriot Act. Therefore, we (US) could technically spy on anyone in China with the proper paperwork such as a court order and the company is required is to hand over information.