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Wednesday, Jan 23
Symantec (SYMC) +1.6% AH after: 1) Initiating a dividend with a 2.5% yield. 2) Authorizing a new...
Symantec (SYMC) +1.6% AH after: 1) Initiating a dividend with a 2.5% yield. 2) Authorizing a new $1B stock buyback program and promising to return ~50% of free cash flow to shareholders. 3) Promising 5%+ organic growth over the next 2-3 years, but guiding for growth of just 0%-2% for FY14. 4) Announcing a restructuring that involves creating an Office of the CEO, ramping R&D spending, conducting layoffs, and focusing on "10 key areas" that include mobile and cloud solutions. CC at 4:30PM ET (webcast). (FQ3: I, II)