Citigroup hackers stole $2.7 million in recent breach

By on June 27, 2011 at 6:50 PM.

Citigroup hackers stole $2.7 million in recent breach

A recent online security breach involving the left of 360,000 credit card numbers will cost Citigroup $2.7 million, the company confirmed to U.S. government officials on Monday. Hackers infiltrated Citigroup servers last month and stole account numbers and personal information associated with over 360,000 Citi-branded credit cards. According to Citigroup, personal information and card numbers from approximately 3,400 cardholders was subsequently used to make about $2.7 million in unauthorized purchases. Citigroup stated that affected customers would be reimbursed for the fraudulent charges. No arrests have been made in association with the breach. More →

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RIM letting opportunity from Nokia debacle slip, Citi says

By on June 9, 2011 at 11:30 AM.

RIM letting opportunity from Nokia debacle slip, Citi says

In a note to investors on Thursday, Citigroup analyst Jim Suva cut his rating on shares of RIM stock from Buy to Hold, dropping his price target from $80 to $45. Suva had upgraded his rating on RIM shares from Sell to Buy back in February on the assumption that the Waterloo, Ontario-based company would take advantage of Nokia’s plummeting market share. “We believe RIMM is letting this opportunity slip,” the analyst said on Thursday. Suva continued, ”Thus far our supply chain checks show that RIMM’s new models have not yet been certified by major wireless carriers and are not in mass production, which concerns us as typically 30-40 days prior to launch new product should be in mass production.” Earlier this month, BGR exclusively reported that RIM’s BlackBerry Bold 9900 smartphone will not launch until September, despite its unveiling at BlackBerry World this past May. More →

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Netflix's traffic soars for the month of June

By on July 12, 2010 at 7:31 PM.

Netflix's traffic soars for the month of June

Netflix-logo

comScore traffic data is out for the month of June, and according to Citi analyst Mark Mahaney, the most recent figures reveal that Netflix’s traffic is soaring. The number of visitors to Netflix’s website has jumped 46% year-over-year for the month of June and 34% year-over-year for the second quarter. This huge jump in traffic is presumably due to ballooning usage of Netflix’s popular online video streaming service which lets Netflix customers watch movies and television episodes on their PC, Mac, or the iPad via an Internet connection. With Blockbuster potentially headed to bankruptcy, VUDU and Boxee still trying to sign distribution deals and content partners, and other services like Hulu Plus and RoxioNow still in the early stages, Netflix will continue to post impressive statistics as it retains its position as the king of online video subscription services. More →

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