McAfee released the results today of research it funded surveying 1,400 IT professionals at firms with more than 250 employees in the U.S., Europe and Australia. Worrisome findings coincide with a second announcement for the release next month of an expanded Data Loss Prevention [DLP] solution. McAfee will offer "Gateway" (guest laptops, non-Windows systems, servers, mobile devices, etc) DLP, which complements its "Host" (desktop) DLP announced in February. Key findings from its research include: 33% of IT decision makers say a major data loss incident could put their company out of business; 66% of respondents have experienced a security breach in the past year; and on average, only one-half of 1% of IT budgets are spent on data security. In a press release, a senior analyst at Yankee Group comments, "The data loss prevention problem is as challenging to corporations as asbestos removal is to homeowners. Like asbestos, data can be toxic when airborne." Shares of McAfee lost 0.54% to $29.29 yesterday.
Sources: Press release (i, ii)
Commentary: McAfee Announces EMC Corp.'s David DeWalt Will Be Its New CEO • McAfee: Hiring May Squash Buyout Speculation • McAfee Suffers 9% Q4 Profit Drop; Annual Report Will Be Late
Stocks/ETFs to watch: McAfee (MFE). Competitors: Symantec (NASDAQ:SYMC), Trend Micro (TMIC), Microsoft (NASDAQ:MSFT), CA, Inc. (NASDAQ:CA). ETFs: Internet HOLDRS (NYSE:HHH), PowerShares Dynamic Networking (NYSEARCA:PXQ)
Conference call transcripts: McAfee Q4'06
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