Morning Beat: General Motors Company (GM), VMware, Inc. (VMW), and T-Mobile US Inc (TMUS)

Let’s Drive NYC is General Motors Company (NYSE:GM) new car sharing program. The program allows users to rent a car by the hour or day, mostly for getting around New York. The service is currently available in one apartment building in Manhattan. However, there are plans to bring it to other locations across the city.

The program allows users to open up an app, specify the car they want and what time they want it delivered. General Motors Company (NYSE:GM) charges a fixed hourly rate regardless of the car that one chooses. The program is different from Zipcar as it comes with no annual or monthly fees with the hourly/ daily fees being relatively cheaper compared to Zipcar rates.

Users of VMware, Inc. (NYSE:VMW) products VXI an ESXI are being warned over a possible remote code execution occurring in their machines. An insecure configuration of Java Management Extension JMX is being cited as a possible opening that could lead to the unwarranted code execution causing denial of service

The vulnerability if allowed to run according Doug McLeod could result in full compromise of the environment. The Vulnerability affects vCenter Server versions from 5.0 through 6.0 on all supported platforms.

VMware, Inc. (NYSE:VMW) has already released patches for the vulnerability. Patches for the above mentioned bugs and information on which patches best suits each platform are available on the company’s website.

T-Mobile US Inc (NYSE:TMUS) CEO, John Legere, is an angry man after it emerged that more than 15 million of the carrier’s customers might have lost crucial data on a data breach. Hackers seem to have found their way into Experian servers walking away with a good chunk of personal data.

The credit reporting agency handles T-Mobile US Inc (NYSE:TMUS) credit applications. Some of the data believed to be in the hands of the hackers include client names addresses, and social security number. The hackers did not gain access to client’s payment card numbers or bank account information.

Reacting to the breach, Legere has confirmed that they were reviewing their working terms with Experian.

Sprint Corp (NYSE:S) intends to cut operational costs by about $2-2.5 billion in a process that could result in the laying off of some staff. The Wall Street Journal reports that the carrier has frozen all external hiring with all expenditure now requiring the approval of the finance department.

Sprint Corp (NYSE:S) has been under immense pressure in the recent past to cut costs on reports it was spending more to acquire and retain customers. The fact that the carrier continues to lose substantial ground even on spending heavily is not going well with the management team.

Its cost as a percentage of revenue is the highest in the industry all but calling for belt-tightening. Stiff competition in the wireless business has pushed the carrier to the fourth position among other carriers.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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