Tag - JPMorgan
JPMorgan Chasewill be taking on the mobile payments market with its own service, by partnering with retailer consortium MCX to produce a CurrentC-based app. Chase Pay is anticipated to launch in the middle of next year, with bank customers expected to be able to pay for goods and services at a number of retailers using their smartphone, though unlike its main competitors, such as Apple Pay, the system will use on-screen barcodes to facilitate payment instead of NFC.
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.
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."
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.
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.
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.
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 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 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.
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.
Now AAPL Stock: 117.65 ( + 1.05 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE