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JC Penney Shares Are Collapsing After A Dismal Earnings Report

Source: http://www.businessinsider.com/jcp-shares-fall-after-earnings-2012-11

 JC Penney Shares Are Collapsing After A Dismal Earnings Report

Shares of JC Penney are tanking over 11.5% this morning after the retailer reported earnings.

Revenue of $2.9 billion is way below estimates of $3.2 billion.

EPS of $-0.93 per share is well worse than the loss of seven cents that were expected.

And same-store sales are down 26.1%

CEO Ron Johnson offers up:

Ron Johnson, chief executive officer of jcpenney said, “While the quarter overall was challenging, the performance of jcp’s new brands and shops reinforces our conviction to transform jcpenney into a specialty department store.  Today, jcp is really a tale of two companies.  By far the largest part of our store is the old jcpenney, which continues to struggle and experience significant challenges as evidenced by our third quarter results.  However, the new jcp, centered around the shop concept, is gaining traction with customers every day and is surpassing our own expectations in terms of sales productivity which continues to give us confidence in our long term business model.”

Full report is here >

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Wednesday, August 29th, 2012 news No Comments

Source: http://gizmodo.com/5936536/new-frankenstein-virus-can-build-itself-on-any-computer-from-stolen-snippets-of-code

medium What if a virus were a shapeshifter, able to change its appearance each time it infects a machine? What if a virus used your own files against you, able to ransack the programs on your computer for the bits of code it needs? Judging from the progress made on the Frankenstein virus, a venture sponsored by the U.S. Air Force, that may soon be a reality.

Developed by two professors at the University of Texas at Dallas, New Scientist says the Frankenstein virus is essentially a program compliler with directions about the algorithms it needs to assemble. Once unpacked and functional, it begins searching the software on your computer for the code it needs—generally taking little snippets called gadgets. These gadgets are written to perform specific actions and thus can be transposed over to another program more easily. The researchers only had the Frankenstein virus create two simple algorithms as a proof of concept, but they believe it can assemble any program, including full-scale malware.

And though there have been other viruses that can change their code, Frankenstein is believed to be more dangerous because it can also change its every aspect of itself to hide on your computer.

Frankenstein is different because all of its code, including the blueprints and gadget-finder, can adapt to look like parts of regular software, making it harder to detect. Just three pieces of such software are enough to provide over 100,000 gadgets, so there are a huge number of ways for Frankenstein to build its monster, but it needs blueprints that find the right balance. If the blueprint is too specific, it leaves Frankenstein little choice in which gadgets to use, leading to less variation and making it easier to detect. Looser blueprints, which only specify the end effects of the malware, are too vague for Frankenstein to follow, for now.

Obviously the military wants this for its ongoing cyberwarfare efforts. But if this ever gets in the hands of script kiddies, we’re in trouble. [New Scientist]

Image by gualtiero boffi/Shutterstock

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Tuesday, August 21st, 2012 news No Comments

Best Buy Canada Has A Plan To Crush The Online Competition (BBY)

Source: http://www.businessinsider.com/best-buy-canada-showrooming-online-competition-2012-7

best buy Best Buy Canada Has A Plan To Crush The Online Competition (BBY)

Best Buy’s biggest problem these days is “showrooming.

Showrooming is when a consumer walks into a store, tests out a products, and buys it on the cheap elsewhere online.

Best Buy has been called Amazon.com’s showroom, a nickname that the big-box retailer has been trying to shake.

Well, it seems Best Buy Canada has an obvious plan to address this problem.  The Financial Post’s Hollie Shaw reports:

We always had a price-match guarantee, but now we have extended that to all Canadian online competitors,” [Canada operations president Mike Pratt] said while touring a Best Buy in downtown Toronto. “Showrooming is a completely price-based concept — it’s about the perception of getting a lower price somewhere. When Web pure-play competitors don’t have price, they don’t have any other advantage, quite frankly.”

If you’re in the store and you know they’re giving you the best price, then you’ll probably buy it then and there.

The issue will be profitability.  Online retailers have much lower overhead costs.  They don’t operate store fronts and they require fewer employees.

SEE ALSO: Best Buy Is Laying Off 1,800 Store Employees And 600 Geek Squad Workers >

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Wednesday, July 11th, 2012 news No Comments

Source: http://gizmodo.com/5892170/does-this-zip+together-chair-bend-the-laws-of-physics/gallery/1

medium At first glance Igor Lobanov’s Wormhole chair looks like an impossible object that could only exist as a computer physics simulation. But once you wrap your head around its zip-together design, it not only seems plausible, but also pretty genius.

Each chair is composed of two flat, but rounded, frame pieces that each fold into a C-shape and completely zip together. So they end up creating a self-supporting place to sit that looks like someone has torn a wormhole into another dimension. It won a much-deserved Red Dot design award, but is sadly still just a concept waiting for an unnamed yet popular Swedish maker of flat-pack furniture to license the design. [Igor Lobanov via Core77]

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Sunday, March 11th, 2012 news No Comments

Source: http://gizmodo.com/5892170/does-this-zip+together-chair-bend-the-laws-of-physics/gallery/1

medium At first glance Igor Lobanov’s Wormhole chair looks like an impossible object that could only exist as a computer physics simulation. But once you wrap your head around its zip-together design, it not only seems plausible, but also pretty genius.

Each chair is composed of two flat, but rounded, frame pieces that each fold into a C-shape and completely zip together. So they end up creating a self-supporting place to sit that looks like someone has torn a wormhole into another dimension. It won a much-deserved Red Dot design award, but is sadly still just a concept waiting for an unnamed yet popular Swedish maker of flat-pack furniture to license the design. [Igor Lobanov via Core77]

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Sunday, March 11th, 2012 news No Comments

Gamers Redesign a Protein That Stumped Scientists for Years [Science]

Source: http://gizmodo.com/5878459/gamers-redesign-a-protein-that-stumped-scientists-for-years

medium 6ed377c6888b8ee5f0187340a3fe88e2 Gamers Redesign a Protein That Stumped Scientists for Years [Science]Folding: it’s detestable and boring, as any Gap employee can tell you. But it’s also a totally fun thing you can do in a video game! And today it’s particularly exciting because players of the online game Foldit have redesigned a protein, and their work is published in the science journal Nature Biotechnology.

It seems nobler than shooting people in the face, somehow. Granted, Foldit attracts a unique kind of gamer who enjoys obsessing over biological protein folding patterns. Proteins get their function from the way they are folded into coils like in the image above. When the amino acids in a protein interact, they create that coiled, three-dimensional structure. Scientists can manipulate the structure to make the protein more efficient. In Foldit, designs that create the most efficient proteins garner the highest scores.

University of Washington in Seattle scientists Zoran Popovic, director of the Center for Game Science, and biochemist David Baker developed Foldit (which is different from Folding@home, Stanford software that lets people donate their idle computer processing power to create a protein-folding supercomputer). By playing it, at-home gamers have redesigned a protein for the first time, and they did it better and faster than scientists who have trained their entire careers to build better proteins. Justin Siegel, a biophysicist in Baker’s group told Scientific American:

I worked for two years to make these enzymes better and I couldn’t do it. Foldit players were able to make a large jump in structural space and I still don’t fully understand how they did it.

Here’s how it works: Researchers send a series of puzzles to Foldit’s 240,000 registered users. The scientists sift through the results for the best designs and take those into the lab for real-life testing. They combed through 180,000 designs to get to the version of the protein published today. The paper details an enzyme that thanks to the crowdsourced redesign is 18-fold more active than the original version.

Now for the anticlimactic part: this particular enzyme doesn’t really have any practical uses. But the researchers say it’s a proof of concept, and future Foldit designs will be more useful. In fact, Baker has fed players a protein that blocks the flu virus that led to the 1918 pandemic—and their puzzle solving for this one could lead to an actual drug.

Nature via Scientific American

Image: Foldit


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Tuesday, January 24th, 2012 news No Comments

Tumblr Blows Past 15 Billion Pageviews Per Month, Thumbing Nose At Old Media Thinking As It Goes

Source: http://www.businessinsider.com/tumblr-blows-past-15-billion-pageviews-per-month-2012-1


david20karp20wallstrip Tumblr Blows Past 15 Billion Pageviews Per Month, Thumbing Nose At Old Media Thinking As It Goes

The latest social-media phenomenon, Tumblr, continues to post astounding traffic metrics.

Founder and CEO David Karp spoke at the DLD conference in Munich this morning, where he reiterated some of the company’s recent milestones:

  • 100+ million uniques per month
  • 15+ billion pageviews per month

Tumblr, which is basically halfway between a blogging platform and Twitter, allows users to post photos, videos, and text. Critically, it also allows users to “follow” each other and “re-blog” the posts of others.

The latter concepts, which Twitter has also capitalized on with amazing success (through “following” and “re-tweets”), inserts reblogged posts into each user’s timeline stream. Thus, anyone who “follows” a user, also sees the re-blogged posts.

This turns Tumblr users into editors and curators in addition to content creators. The sharing functionality allows posts to spread rapidly, just as links and headlines do on Facebook and Twitter. In Tumblr’s case, though, the whole post is shared, not just the headline and link.

It’s worth noting that this whole concept makes a mockery of the idea of traditional content “theft.” If someone “re-blogged” a traditional newspaper story, inserting it into their own site, the newspaper would probably scream bloody murder and sic lawyers on them. And yet, on Tumblr, those whose posts are “re-blogged” feel nothing but gratitude and pride (thanks for sharing my work!).

Some other stats from David Karp’s talk this morning (as tweeted by idealab founder Bill Gross and digital journalism guru Jeff Jarvis):

  • The average post is “re-blogged” 9 times
  • 90% of the posts on Tumblr are reblogs or groups (curation). 10% are original content creation.

In another DLD panel, Glam Media CEO Samir Arora remarked that the “old version of media was that you needed editors that work for you. In new era they don’t.”

Nowhere is that more clear than at Tumblr.

SEE ALSO: Check Out Tumblr’s Amazing New York Headquarters, Where All Those Pageviews Are Made

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 Tumblr Blows Past 15 Billion Pageviews Per Month, Thumbing Nose At Old Media Thinking As It Goes Tumblr Blows Past 15 Billion Pageviews Per Month, Thumbing Nose At Old Media Thinking As It Goes


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Monday, January 23rd, 2012 news No Comments

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