Tag Archives: request

Yahoo Shutting Down 7 Digital Magazines Amid Restructuring

Yahoo ( YHOO ) will shut down seven digital magazines, following through on its layoffs and reorganization plans aimed once again at trying to rejuvenate growth. On Wednesday, Yahoo said that it will shut down Yahoo Food, Yahoo Health, Yahoo Parenting, Yahoo Makers, Yahoo Travel, Yahoo Autos and Yahoo Real Estate. “On our recent earnings call,” wrote Martha Nelson, Yahoo global editor-in-chief, in a statement  on the company’s Tumblr site, “Yahoo outlined our plan to simplify our business and focus our effort on our four most successful content areas — News, Sports, Finance and Lifestyle.” Cutting the seven digital magazines is part of that effort. “While these Digital Magazines will no longer be published, you will continue to find the topics they covered, as well as style, celebrity, entertainment, politics, tech and much more across our network,” she wrote. Yahoo announced a turnaround strategy, including cutting 15% of its workforce, or roughly 1,600 jobs, when it reported fourth quarter earnings on Feb. 2. Yahoo said that it planned to sell non-core divisions and assets. This included closing of five offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan. Yahoo stock rose a fraction Wednesday, closing at 29.37. Last week, the stock hit a 30-month low of 26.15.

Apple Vows Fight With Feds To Maintain Smartphone Privacy

Apple ( AAPL ) CEO Tim Cook has taken a hard line against government efforts to unlock password-protected smartphones. But Apple’s pushback to a new federal demand this week could stymie the San Bernardino, Calif., terrorist investigation. This twist puts the company at the center of a long clash with government over technology industry security and privacy, and in a public relations pickle. In an open letter to customers late Tuesday, Cook vowed to resist government orders to break its smartphone encryption. He said there is much more at stake than complying with one government request to access data on one iPhone. A federal judge on Tuesday ordered Apple to provide “reasonable technical assistance” to the FBI to unlock an iPhone belonging to one of the killers in the San Bernardino  shootings. The order calls for Apple to create software that can get around or disable the security option that erases data from an iPhone after 10 unsuccessful attempts to unlock it. Syed Farook and his wife, Tashfeen Malik, shot and killed 14 people on Dec. 2. The radicalized Muslim couple, described in press reports as supporters of terror group ISIS, later died in a gun battle with police. Complying with the court’s order would create a “dangerous precedent,” Cook said. The government’s demands threaten the security of all of its customers, he said. “Some would argue that building a backdoor for just one iPhone is a simple, clean-cut solution. But it ignores both the basics of digital security and the significance of what the government is demanding in this case,” Cook said. “While the government may argue that its use would be limited to this case, there is no way to guarantee such control.” If the backdoor becomes available, hackers and criminals will try to exploit it, Cook said. And the federal government, which has shown a willingness to spy on its own citizens through the National Security Agency, also could seek more access to smartphones. Cook said he believes the FBI’s intentions here are good, but that ramifications of their demands are too far-reaching to ignore. “The implications of the government’s demands are chilling,” Cook said. “The government could extend this breach of privacy and demand that Apple build surveillance software to intercept your messages, access your health records or financial data, track your location, or even access your phone’s microphone or camera without your knowledge.” Cook said Apple has no sympathy for terrorists and has cooperated with the FBI to the best of its ability. The court says it isn’t asking Apple to break the phone’s encryption, but rather to “bypass or disable the auto-erase function whether or not it has been enabled.” That way, the government can try to crack the password using “brute force” — electronically entering millions of combinations without risking deletion of the data. The Electronic Frontier Foundation, a leading nonprofit organization that defends civil liberties in the digital world, has come out in support of Apple in the case. “For the first time, the government is requesting Apple write brand new code that eliminates key features of iPhone security – security features that protect us all,” Kurt Opsahl, deputy executive director and general counsel for the EFF, said in a blog post . “Essentially, the government is asking Apple to create a master key so that it can open a single phone. And once that master key is created, we’re certain that our government will ask for it again and again, for other phones, and turn this power against any software or device that has the audacity to offer strong security.” Opsahl went on to note that “once this master key is created, governments around the world will surely demand that Apple undermine the security of their citizens as well.” Digital rights group Fight for the Future also has spoken out about the federal court order. “Governments have been frothing at the mouth hoping for an opportunity to pressure companies like Apple into building backdoors into their products to enable more sweeping surveillance. It’s shameful that they’re exploiting the tragedy in San Bernardino to push that agenda,” Evan Greer, Fight for the Future’s campaign director, said in a blog post . “Security experts agree that any weakening or circumvention of security features on a phone puts everyone in danger.” Wendy Patrick, a business ethics and legal expert on the faculty at San Diego State University, said the Apple case raises the question of whether we can have digital security when there are national security concerns. “The public may have to give up some measure of digital privacy to make sure we stay safe from terrorists,” Patrick told IBD. “A lot of people believe that national security is paramount.” But Apple is worried about damaging its relationship with its customers if it makes iPhones vulnerable to hackers and government snoops. It sees the creation of a slippery slope by setting a precedent in this case, she said. U.S. Magistrate Judge Sheri Pym gave Apple five days to contest her ruling on the grounds that it might be unduly burdensome. Apple is likely to do so and the case could be at a stalemate for some time, Patrick said. Image provided by Shutterstock .  

Zendesk Stock Rises On Q4 Top-Line Beat, Keeps Adding Customers

Zendesk ( ZEN ) stock rose Wednesday after the cloud software vendor late Tuesday posted Q4 results that beat on the top line and met on the bottom line. The company reported Q4 revenue of $62.6 million, up 63% year over year and topping the consensus estimate of $60 million. It reported a per-share loss of 7 cents, matching the consensus estimate, as polled by Thomson Reuters. It reported a per-share loss of 11 cents in the year earlier quarter. Zendesk provides a cloud-based customer service software platform used primarily by small- to medium-size businesses. Its competitors include cloud software pioneer Salesforce.com ( CRM ), the leading maker of customer relationship management software. Zendesk stock was up 6%, near 17, in afternoon trading in the stock market today . Its shares, along with those of Salesforce.com and other enterprise software makers, tumbled on Feb. 5 after weak guidance by Tableau Software ( DATA ) raised fears of slower tech spending. Salesforce.com stock was up 5.5% Wednesday afternoon, and Tableau stock was up 3.5%. Zendesk finished Q4 with more than 69,000 customer accounts, up 7.8% from 64,000 in Q3. The company has a goal to reach $1 billion in revenue in 2020. “We are aggressively developing products and markets that move us beyond our core in customer support and into emerging opportunities around customer relationships.” Zendesk CEO Mikkel Svane said in the company’s earnings release. In November, Zendesk announced a partnership with Microsoft ( MSFT ), integrating its software with Microsoft Office 365. It was the first customer-service add-in for Microsoft Outlook, which is part of the Office 365 suite. Zendesk also is working with Facebook ( FB ) to add Facebook Messenger to its suite of applications. It would enable call centers to use Facebook Messenger to communicate with customers and prospects. Facebook Messenger could add $100 million in revenue, estimates Brendan Barnicle, an analyst at Pacific Crest Securities. Barnicle maintained an overweight rating on Zendesk and a price target of 35. Ross MacMillan, an analyst at RBC Capital Markets, maintained an outperform rating on Zendesk and a price target of 27. Zendesk expects Q1 revenue of $65 million to $67 million. The midpoint would be up 66% from the year-ago quarter. It sees an operating loss of $8 million to $9 million. For 2016, Zendesk expects revenue of $290 million to $300 million, up 41% at the midpoint, and an operating loss of $28 million to $30 million.