Number of people affected revealed more than three months after breach discovered
A filing made with the United States Securities and Exchange Commission (SEC) Thursday revealed new information on the scope of the breach that JPMorgan Chase witnessed earlier in the summer. In July the company, along with at least four other financial institutions, discovered an attack by hackers that reportedly resulted in gigabytes of data stolen after they gained high-level access to 90 of JPMorgan Chase's servers worldwide.
Messageboard posting forces notification of credible threat?
The Financial Services Information Sharing and Analysis Center warned banks to be on heightened alert after Bank of America and JPMorgan Chase experienced unexplained outages of public-facing websites on Wednesday. The warning cited "recent credible intelligence" as the justification for raising the threat level similar to that of the Department for Homeland Security scale from "elevated" to "high."
Speculation estimates Q3 sales of handset to reach 15M
Samsung has sold approximately 6.5 million Galaxy S III handsets over the second quarter, according to analysts. JPMorgan believes that the South Korean electronics giant will raise that number to around 15 million mobile devices between July and September, for total sales of around 20 million units within six months.
Suit alleges insufficient warning on earnings estimate reductions
The imbroglio over Facebook's initial public offering continued today with the announcement of a class-action lawsuit alleging wrongdoing on the part of Facebook and its underwriters. The lawsuit, filed in Manhattan federal court, claims that Facebook, Morgan Stanley, Goldman Sachs, and JPMorgan Chase, among others, misled investors and caused them to lose more than $2.5 billion in the wake of the IPO. As Bloomberg reports, the plaintiffs have yet to specify the amount sought for damages. The case comes in the wake of the revelation yesterday that the Securities and Exchange Commission will be looking into the Facebook IPO to determine whether some investors received privileged information ahead of the opening.
RIM just days away from picking JPMorgan: insider
Canadian smartphone maker RIM is closer to picking its financial advisor and JPMorgan Chase & Co is the leading candidate, Bloomberg reported on Friday. A source who wished to remain anonymous said the decision may arrive in a matter of days. The company is considering a licensing deal for its tech or a strategic investment, sources indicated, and has even talked with Bank of America.
JPMorgan doubt on ultrabooks backed by sales
An investment note from JPMorgan analyst Mike Moskowitz on Tuesday downplaying the likely impact of Windows-based ultrabooks was backed by support from PC resellers. He saw most competitors pursuing the MacBook Air and going for "more of the same" in computers, largely trying to replicate what they'd seen before instead of trying something new. The emulation was ironic for an industry that had initially downplayed the Air, he said, although he saw there being a number of practical competitive issues as well.
Kodak readying Chapter 11 filing as precaution
Kodak is drafting Chapter 11 bankruptcy filings in the event it can't sell patents in the next few weeks, insiders asserted Wednesday. The proposed plan seen by the Wall Street Journal would see the camera legend possibly enter bankruptcy later this month or in early February. The reorganization would see it get $1 billion of debtor-in-possession funding and sell its entire library of 1,100 patents through a bankruptcy auction rather than a typical process.
JPMorgan sees iPad gain ground as Android lags
JPMorgan analyst Mark Moskowitz deflated presumptions of Android's success in tablets with an increase in Apple's projected share of tablets. Having predicted in February that Apple would get 60.8 percent this year, he now thought Apple would get 70.9 percent for 2011 and would still have 62.8 percent in 2012. The assumption that Android tablets would quickly ramp up hadn't panned out, as none had grown to the point of being a major contender.
JPMorgan sees MacBook Air as key device
Apple may be selling enough MacBook Airs to make it a cornerstone of its computer business, JPMorgan analyst Mark Moskowitz said in a research note Thursday. Based on an understanding that first quarter sales of the ultraportable were sequentially up 2.9 percent to 432,000 where Macs as a whole were down 10.5 percent, he expected Apple to move as many as 700,000 of the notebooks each quarter in the near future. He had already seen it making $2.2 billion in revenue for Apple but now saw it topping $3 billion or more.
Visa invests in Square to spur mobile payments
Visa in a symbolic step said it had invested in Square. The undisclosed amount will be accompanied by a Visa executive sitting on the company's advisory board. Visa representative Ryan Donovan explained the decision to the New York Times as a way of spurring credit card use by getting it to businesses that wanted to, but couldn't, take payments due to the location or cost.
TiVo, bank e-mail exposed in Epsilon hack
Large-scale e-mail marketer Epsilon warned this weekend that at least 14 major companies had their e-mail lists compromised through a security hack. TiVo, as well as banks like Capital One, Citi, and JPMorgan Chase, warned that their customers could be targeted by phishing attempts or anything else that relies on knowing an e-mail address. The affected group stressed that they didn't have any other personally identifying data besides names, although rewards programs from Marriott and Ritz-Carleton also exposed point balances.
JPMorgan says tablet cannibalizing PCs more
JPMorgana analyst Mark Moskowitz warned on Monday that tablets were only likely to cannibalize notebooks much more in the next two years. With as many as 18.9 percent of tablets having replaced a netbook or notebook in 2010, he expected that rate to surge to 32.1 percent in 2011 and 35.1 percent in 2012. Android 3.0 and the imminent new iPad would both eat further into computers, especially the netbook market, the analyst estimated.
JPMorgan says iPad owners also getting Kindles
Despite stereotypes, almost half of iPad owners also have a Kindle at the same time, JPMorgan found in a new study. About 40 percent have Amazon's e-reader, and another 23 percent still plan to buy one in the next year. Only 23 percent have no plans, and 14 percent didn't know what a Kindle was.
JPMorgan says iPad to have 61pc share in 2011
Apple should have the majority of the tablet market for at least all of 2011, JPMorgan analyst Mark Moskowitz said on Friday. Starting from an estimated 83.3 percent of the market this fall, the iPad would drop but still hold on to 61.7 percent in 2011. Most of the drop would only come in the summer, when Android 3.0 tablets would ship in earnest.
RIM insists companies delaying iPad for PlayBook
RIM during the call discussing its fall 2010 results claimed that companies were delaying their iPad plans to test the BlackBerry PlayBook. Co-CEO Jim Balsillie said that existing BlackBerry customers were stalling plans for "other tablets" to see if the PlayBook was worth the expense. Pent-up demand for the PlayBook was "really overwhelming," he said.
ChangeWave says iPad work demand jumping in 2011
Over three quarters of corporate buyers planning to buy tablets in early 2011 still plan to get iPads, ChangeWave said in a new study. About 78 percent of those committed to tablets in the first three months of next year were intent on getting an iPad. Although RIM saw an improvement as it edged closer to release, only nine percent expected to get its BlackBerry PlayBook, which was now tied with Dell tablets like the Streak and the upcoming seven-inch Looking Glass.
JPMorgan testing iPhone and Android support
The BlackBerry may be handed one of its more significant losses as insiders said today that JPMorgan and UBS are working to allow Android and iPhone hardware for their workers. JPMorgan is purportedly testing "a few hundred" devices of both varieties to make sure they work well with its Exchange system, Bloomberg said. Under the proposed final plan, staff would have to pay for the phones themselves, unlike the BlackBerry, but could use it for both personal and company work.