e-Coops

Updated from 9:45 a.m. EST

Stocks were narrowly mixed at midmorning Thursday as traders digested the gains of the past two sessions.

The Dow Jones Industrial Average, which finished the prior session at 12,741.86, its best-ever close, was tacking on 7 points at 12,749. The S&P 500 was down 1 point at 1454, and the Nasdaq Composite was up 1 point at 2490.

Federal Reserve Chairman Ben Bernanke is wrapping up his congressional testimony as he addresses the House of Representatives. During his remarks Wednesday to the Senate Banking Committee, Bernanke said the central bank is comfortable with interest rates and that some tentative signs of stabilization have recently appeared in the housing market.

Those benign comments gave stocks a boost Wednesday. The industrials climbed 87.01 points, or 0.69%, and the S&P rose 11.04 points, or 0.76%, to 1455.30. The Nasdaq gained 28.50 points, or 1.16%, to 2488.38.

During the last two sessions, the Dow has surged 189 points and the Nasdaq has jumped 38.

“Mr. Bernanke’s testimony continues the incremental reduction in hawkishness evident in the past few months’ FOMC statement, though there is nothing here that could be legitimately described as outright dovish,” said Ian Shepherdson, chief economist with High Frequency Economics, in a written message. “We don’t think this represents a real change in stance, so the market reaction looks overdone.”

Meanwhile, the economic docket was filled to the brim. The New York Fed said its Empire State Manufacturing index unexpectedly surged to a reading of 24.4 in February, up from 9.1 in January. Economists anticipated a slight increase to a reading of 11.

Elsewhere, the Labor Department said its import price index fell 1.2% last month, mostly in line with expectations. Imported petroleum prices fell 7.3% last month, and natural gas prices tumbled by 12%. Excluding petroleum, import prices were flat for the month.

Jobless claims rose last week by a greater-than-expected 44,000 to 357,000, according to a separate report from the Labor Department. The sharp increase was blamed on inclement weather across the U.S. The less volatile four-week moving average climbed by 17,500 to 326,250.

In another report, industrial production fell 0.5% in January, well below the unchanged consensus. Capacity utilization fell to 81.2% last month from 81.8% in December, also below consensus.

Data from the Philadelphia Fed on manufacturing activity in the mid-Atlantic region are due at noon EST.

In equities, the pace of earnings reports has slowed dramatically in the last couple of weeks, but influential names continue appear. Ahead of the opening bell, oil-services outfit Baker Hughes (BHI) said its quarterly revenue rose more than 20% year over year, but profits fell short of analysts forecasts. Shares were dropping $5.99, or 8.3%, to $65.95.

As for the day’s research calls, Goldman Sachs downgraded AMR (AMR) , parent of American Airlines, but upgraded low-fare carrier JetBlue (JBLU) .

Recently, AMR was losing 2% to $37.76, while JetBlue was gaining 4.4% to $13.57.

AG Edwards raised its rating on American Eagle Outfitters (AEOS) to buy from hold, and at Prudential, Schering-Plough (SGP) was cut to neutral from overweight.

American Eagle was higher by 2.9% to $31.84, and Schering-Plough was off 1.5% to $24.40.

Treasury prices continued to rally. Recently, the 10-year note was up 10/32 in price, yielding 4.69%, and the 30-year was rising 19/32 to yield 4.80%.

Commodities were mixed. Oil futures were off 4 cents to $57.96 a barrel on the New York Mercantile Exchange, and gold was up 30 cents at $672.30 an ounce.

Stocks slipped in Europe, but rose in Asia. London’s FTSE 100 was down 0.1% to 6417, and Frankfurt’s Xetra DAX was 0.1% weaker at 6955. Tokyo’s Nikkei was up 0.8% at 17,897, and Hong Kong’s Hang Seng advanced 1.6% to 20,538.

This entry was posted on Friday, February 16th, 2007 at 5:04 am and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Most small-business owners understand that complete, end-to-end network security is something they should have — but it’s something they probably don’t. And how can they? With security threats coming from a multitude of sources and no end in sight to the new attacks that are frequently launched on both networks and PCs, keeping up with all these threats and figuring out just what to do about them is challenging enough for big companies with dedicated IT staffs. For small businesses, it can be completely overwhelming.

The risks of not adequately securing your business network and PCs are huge, however. Remember: It’s not just your data that’s at risk from attacks from viruses, spyware, hackers and others. Any customer data stored on your computers — including Social Security numbers, bank account information and confidential data, such as key sales and marketing data — is at risk as well.

Here are the facts, according to consumer product research organization Consumer Reports:

During a recent 24-hour monitoring period, computer security software firm Symantec recorded 59 million attempts by hackers to gain unauthorized entry into business and home computers.

One out of four computer users said they had experienced a major, costly problem due to a computer virus, according to a fall 2006 survey. The average cost per incident was $109. In addition, one out of every 115 people was the victim of a scam email attack, which cost victims an average of $850 apiece.

To combat viruses and spyware, American consumers spent at least $7.8 billion for computer repairs, parts and replacement over the past two years. The Threats Since security threats continue to evolve, business owners must not only continue to protect themselves from existing threats such as viruses, spyware and scam emails, but must also keep abreast of new threats and understand how hackers will be targeting computers in the future. So what will the newest threats be in 2007?

Here are some trends to watch:

More narrowly defined threats, or “targeted threats,” are becoming common. These attacks tend to focus on sensitive information from a single company or individual rather than indiscriminately letting a worm loose to find victims randomly wherever they can.

The “malware” capable of these attacks is being delivered to users in increasingly sophisticated ways such as in email attachments, embedded in video files or hyperlinks, and even through social engineering tactics that lure, fool or trick the user to make what seems like a benign action that automatically installs the malware without user help.

Malicious bots — short for robots, or software applications that run automated tasks over the Internet — are expected to increase. Bots are sometimes used to create automated attacks on networks, such as DoS attacks.

Rootkits are increasingly becoming a concern. Rootkits are a set of software tools whose purpose is to conceal processes, files or system data from a computer’s operating system. Rootkits can enable hackers to maintain access to a computer system. Because they can burrow deeply, are capable of modifying parts of an operating system, and can go undetected, rootkits can be particularly challenging to remove.

Zero-day attacks are also on the rise. A zero-day (also called zero hour) attack takes advantage of computer security holes for which no solution is yet available. They’re called “zero day” because they attack between the time a security hole becomes known and the time when a patch to plug the hole is available. As a result, zero-day attacks can spread at an alarming rate.

Identity theft will continue to be a growing concern. The FTC estimates that 10 million Americans are victims of identity fraud each year. Hackers who gain unauthorized access to computers are often in search of personal identity data they can exploit or sell. The Solutions Now that you’ve got some idea what you’re up against, is there anything you can really do to protect your business? Absolutely. First, you need to develop a plan that addresses both education and technology. It’s critical that you educate your users on what they can do to make sure they’re not potentially compromising security (safe user habits for reading and acting upon emails can prevent many virus attacks). And make sure unauthorized users (for instance, family or friends) don’t use your business’ computers.

Next, develop a comprehensive technology plan to address all aspects of security. Talk to your trusted IT adviser. Make a complete list of the security you already have in place, with an eye toward sniffing out vulnerabilities.

Develop a plan for complete, end-to-end network protection, and make sure there are steps in place to regularly update your security. Then revisit your plan several times a year to ensure it continues to meet your needs and addresses new security threats that continue to evolve.

Your plan should include the following security essentials:

- Antivirus protection. Every PC on your network should have antivirus protection. There are plenty of inexpensive, effective antivirus programs on the market for small and home offices.

- Antispyware protection. Spyware has become increasingly malicious, difficult to detect and difficult to remove. An antispyware program that frequently downloads updated definitions and monitors activity in the background is important, given the insidious nature of spyware.

- Firewall. A firewall is designed to block unauthorized access to computers and networks. Firewalls are available in hardware (as standalone network security devices or integrated into network routers) or as software. A software firewall is particularly important for laptop users who travel. Firewall software is usually included in Internet security suites, which also offer antivirus, antispyware, and other tools. Some software firewalls are even available in free, basic versions.

- Virtual private network. A VPN creates a secure “tunnel” between a computer and an unsecured, public network, such as the Internet. VPN technology offers an important layer of protection for your business’ weakest security link — mobile users. VPN security can be integrated into some network devices, such as intelligent routers, and turned on or off as needed.

- Wireless security. If your business uses a wireless network, at a minimum, you should use a password, WEP key or some other method to block unauthorized users from gaining access.

- Secure network hardware. Ideally, your company’s network should be protected by routers with comprehensive, built-in security, including integrated firewall, VPN and an intrusion prevention system.

- Data protection. Implementing regular backup procedures is a simple way to safeguard critical business and customer data. Setting permissions and encryption will also help.

As I mentioned earlier, maintaining proper security throughout your network is a big job. If it feels overwhelming, consider hiring an IT person to handle the job. Or outsource network security to an independent contractor or managed service provider.

The bottom line is, would you like to be in charge of your computers, your network and your data — or would you rather leave that up to a hacker?

This entry was posted on Thursday, February 15th, 2007 at 10:44 pm and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Most small-business owners understand that complete, end-to-end network security is something they should have — but it’s something they probably don’t. And how can they? With security threats coming from a multitude of sources and no end in sight to the new attacks that are frequently launched on both networks and PCs, keeping up with all these threats and figuring out just what to do about them is challenging enough for big companies with dedicated IT staffs. For small businesses, it can be completely overwhelming.

The risks of not adequately securing your business network and PCs are huge, however. Remember: It’s not just your data that’s at risk from attacks from viruses, spyware, hackers and others. Any customer data stored on your computers — including Social Security numbers, bank account information and confidential data, such as key sales and marketing data — is at risk as well.

Here are the facts, according to consumer product research organization Consumer Reports:

During a recent 24-hour monitoring period, computer security software firm Symantec recorded 59 million attempts by hackers to gain unauthorized entry into business and home computers.

One out of four computer users said they had experienced a major, costly problem due to a computer virus, according to a fall 2006 survey. The average cost per incident was $109. In addition, one out of every 115 people was the victim of a scam email attack, which cost victims an average of $850 apiece.

To combat viruses and spyware, American consumers spent at least $7.8 billion for computer repairs, parts and replacement over the past two years. The Threats Since security threats continue to evolve, business owners must not only continue to protect themselves from existing threats such as viruses, spyware and scam emails, but must also keep abreast of new threats and understand how hackers will be targeting computers in the future. So what will the newest threats be in 2007?

Here are some trends to watch:

More narrowly defined threats, or “targeted threats,” are becoming common. These attacks tend to focus on sensitive information from a single company or individual rather than indiscriminately letting a worm loose to find victims randomly wherever they can.

The “malware” capable of these attacks is being delivered to users in increasingly sophisticated ways such as in email attachments, embedded in video files or hyperlinks, and even through social engineering tactics that lure, fool or trick the user to make what seems like a benign action that automatically installs the malware without user help.

Malicious bots — short for robots, or software applications that run automated tasks over the Internet — are expected to increase. Bots are sometimes used to create automated attacks on networks, such as DoS attacks.

Rootkits are increasingly becoming a concern. Rootkits are a set of software tools whose purpose is to conceal processes, files or system data from a computer’s operating system. Rootkits can enable hackers to maintain access to a computer system. Because they can burrow deeply, are capable of modifying parts of an operating system, and can go undetected, rootkits can be particularly challenging to remove.

Zero-day attacks are also on the rise. A zero-day (also called zero hour) attack takes advantage of computer security holes for which no solution is yet available. They’re called “zero day” because they attack between the time a security hole becomes known and the time when a patch to plug the hole is available. As a result, zero-day attacks can spread at an alarming rate.

Identity theft will continue to be a growing concern. The FTC estimates that 10 million Americans are victims of identity fraud each year. Hackers who gain unauthorized access to computers are often in search of personal identity data they can exploit or sell. The Solutions Now that you’ve got some idea what you’re up against, is there anything you can really do to protect your business? Absolutely. First, you need to develop a plan that addresses both education and technology. It’s critical that you educate your users on what they can do to make sure they’re not potentially compromising security (safe user habits for reading and acting upon emails can prevent many virus attacks). And make sure unauthorized users (for instance, family or friends) don’t use your business’ computers.

Next, develop a comprehensive technology plan to address all aspects of security. Talk to your trusted IT adviser. Make a complete list of the security you already have in place, with an eye toward sniffing out vulnerabilities.

Develop a plan for complete, end-to-end network protection, and make sure there are steps in place to regularly update your security. Then revisit your plan several times a year to ensure it continues to meet your needs and addresses new security threats that continue to evolve.

Your plan should include the following security essentials:

- Antivirus protection. Every PC on your network should have antivirus protection. There are plenty of inexpensive, effective antivirus programs on the market for small and home offices.

- Antispyware protection. Spyware has become increasingly malicious, difficult to detect and difficult to remove. An antispyware program that frequently downloads updated definitions and monitors activity in the background is important, given the insidious nature of spyware.

- Firewall. A firewall is designed to block unauthorized access to computers and networks. Firewalls are available in hardware (as standalone network security devices or integrated into network routers) or as software. A software firewall is particularly important for laptop users who travel. Firewall software is usually included in Internet security suites, which also offer antivirus, antispyware, and other tools. Some software firewalls are even available in free, basic versions.

- Virtual private network. A VPN creates a secure “tunnel” between a computer and an unsecured, public network, such as the Internet. VPN technology offers an important layer of protection for your business’ weakest security link — mobile users. VPN security can be integrated into some network devices, such as intelligent routers, and turned on or off as needed.

- Wireless security. If your business uses a wireless network, at a minimum, you should use a password, WEP key or some other method to block unauthorized users from gaining access.

- Secure network hardware. Ideally, your company’s network should be protected by routers with comprehensive, built-in security, including integrated firewall, VPN and an intrusion prevention system.

- Data protection. Implementing regular backup procedures is a simple way to safeguard critical business and customer data. Setting permissions and encryption will also help.

As I mentioned earlier, maintaining proper security throughout your network is a big job. If it feels overwhelming, consider hiring an IT person to handle the job. Or outsource network security to an independent contractor or managed service provider.

The bottom line is, would you like to be in charge of your computers, your network and your data — or would you rather leave that up to a hacker?

This entry was posted on Thursday, February 15th, 2007 at 10:44 pm and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Updated from 9:45 a.m. EST

Stocks were narrowly mixed at midmorning Thursday as traders digested the gains of the past two sessions.

The Dow Jones Industrial Average, which finished the prior session at 12,741.86, its best-ever close, was tacking on 7 points at 12,749. The S&P 500 was down 1 point at 1454, and the Nasdaq Composite was up 1 point at 2490.

Federal Reserve Chairman Ben Bernanke is wrapping up his congressional testimony as he addresses the House of Representatives. During his remarks Wednesday to the Senate Banking Committee, Bernanke said the central bank is comfortable with interest rates and that some tentative signs of stabilization have recently appeared in the housing market.

Those benign comments gave stocks a boost Wednesday. The industrials climbed 87.01 points, or 0.69%, and the S&P rose 11.04 points, or 0.76%, to 1455.30. The Nasdaq gained 28.50 points, or 1.16%, to 2488.38.

During the last two sessions, the Dow has surged 189 points and the Nasdaq has jumped 38.

“Mr. Bernanke’s testimony continues the incremental reduction in hawkishness evident in the past few months’ FOMC statement, though there is nothing here that could be legitimately described as outright dovish,” said Ian Shepherdson, chief economist with High Frequency Economics, in a written message. “We don’t think this represents a real change in stance, so the market reaction looks overdone.”

Meanwhile, the economic docket was filled to the brim. The New York Fed said its Empire State Manufacturing index unexpectedly surged to a reading of 24.4 in February, up from 9.1 in January. Economists anticipated a slight increase to a reading of 11.

Elsewhere, the Labor Department said its import price index fell 1.2% last month, mostly in line with expectations. Imported petroleum prices fell 7.3% last month, and natural gas prices tumbled by 12%. Excluding petroleum, import prices were flat for the month.

Jobless claims rose last week by a greater-than-expected 44,000 to 357,000, according to a separate report from the Labor Department. The sharp increase was blamed on inclement weather across the U.S. The less volatile four-week moving average climbed by 17,500 to 326,250.

In another report, industrial production fell 0.5% in January, well below the unchanged consensus. Capacity utilization fell to 81.2% last month from 81.8% in December, also below consensus.

Data from the Philadelphia Fed on manufacturing activity in the mid-Atlantic region are due at noon EST.

In equities, the pace of earnings reports has slowed dramatically in the last couple of weeks, but influential names continue appear. Ahead of the opening bell, oil-services outfit Baker Hughes (BHI) said its quarterly revenue rose more than 20% year over year, but profits fell short of analysts forecasts. Shares were dropping $5.99, or 8.3%, to $65.95.

As for the day’s research calls, Goldman Sachs downgraded AMR (AMR) , parent of American Airlines, but upgraded low-fare carrier JetBlue (JBLU) .

Recently, AMR was losing 2% to $37.76, while JetBlue was gaining 4.4% to $13.57.

AG Edwards raised its rating on American Eagle Outfitters (AEOS) to buy from hold, and at Prudential, Schering-Plough (SGP) was cut to neutral from overweight.

American Eagle was higher by 2.9% to $31.84, and Schering-Plough was off 1.5% to $24.40.

Treasury prices continued to rally. Recently, the 10-year note was up 10/32 in price, yielding 4.69%, and the 30-year was rising 19/32 to yield 4.80%.

Commodities were mixed. Oil futures were off 4 cents to $57.96 a barrel on the New York Mercantile Exchange, and gold was up 30 cents at $672.30 an ounce.

Stocks slipped in Europe, but rose in Asia. London’s FTSE 100 was down 0.1% to 6417, and Frankfurt’s Xetra DAX was 0.1% weaker at 6955. Tokyo’s Nikkei was up 0.8% at 17,897, and Hong Kong’s Hang Seng advanced 1.6% to 20,538.

This entry was posted on Thursday, February 15th, 2007 at 7:34 pm and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.