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Symantec Corporation (SYMC)

- NASDAQ
  • May. 7, 2013, 6:38 PM
    Symantec (SYMC) -6.2% AH after guiding on its FQ4 call for FQ1 revenue of $1.61B-$1.65B and EPS of $0.35-$0.36, below a consensus of $1.7B and $0.44. Symantec is also forecasting FY14 EPS growth of 5%-7%, below a consensus of 8.5%. Are share losses to upstarts such as CommVault (CVLT) and Veeam taking a toll? Today, CommVault posted an FQ4 beat on the back of 21% Y/Y rev. growth, and stated on its earnings call it's comfortable with the Street's revenue forecasts (consensus is for 15% growth). Of course, CommVault also said it's worried about an "apparent near-term slowdown in tech spending" (many peers would concur).
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  • May. 7, 2013, 4:12 PM
    Symantec (SYMC): FQ4 EPS of $0.44 beats by $0.06. Revenue of $1.748B (+4% Y/Y) beats by $18M. $125M worth of shares repurchased. Company initiates $0.15/share quarterly dividend (2.5% yield). Shares -0.1% AH. (PR)
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  • May. 7, 2013, 12:10 AM
    Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GA, GPOR, HTA, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z
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  • May. 6, 2013, 5:35 PM
    Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GTEK, GA, GPOR, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z
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  • May. 4, 2013, 3:52 PM
    Barron's is out with its list of the 500 financially strongest companies as ranked after a rigorous cash and sales analysis. A quick filter on the list shows a good chunk of the names trade with a single-digit price to earnings ratio including Goodyear Tire & Rubber (GT). Despite all the buzz about booming auto sales in the U.S. and China, concerns about growth for Goodyear's products in other regions of the globe have lowered expectations. But with auto sale estimates for full-year being taken higher, Goodyear could see enough consistent revenue growth to justify a higher trading multiple. (Top 25: AAPL, WCC, WDC, DVA, CHRW, QCOM, JOY, V, STX, MRC, MA, CVI, COF, SYMC, MCK, WCG, ETN, BRCM, TMO, CI, CBI, NOV, WNR, HFC, DK)
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  • Mar. 15, 2013, 7:05 PM
    Morgan Stanley selects 20 stocks for the long term, based on "competitive advantages, business model, pricing power, cost efficiency and growth": AMZN, AMT, BLK, CPN, CP, CVX, COST, EL, GILD, HON, JPM, LTD, MON, NWSA, PM, RPM, SBUX, SYMC, TMO, WMB.
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  • Feb. 1, 2013, 6:34 PM
    "We've had to reprogram the brains of our employees because they thought about our company as 150 different point solutions," says Symantec's (SYMC) Steve Bennett in an IBD interview, suggesting his top priorities since becoming CEO in July have included eliminating redundant offerings and developing integrated solutions that "solve a higher-level problem." Bennett, whose firm recently announced a big restructuring (I, II), names Symantec's Storage & Availability Management platform (SAMG) as an example of such a solution.
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  • Jan. 24, 2013, 3:24 AM
    Symantec (SYMC) will reportedly cut back on its middle management as it lowers its headcount by at least 1,000 as part of its restructuring, which the software-security company announced yesterday but without providing a figure for the staff cuts. Despite the prospective job losses, Symantec plans to recruit R&D workers.
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  • Jan. 23, 2013, 4:17 PM
    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)
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  • Jan. 23, 2013, 9:34 AM
    More on Symantec: The company is splitting the chairman and CEO roles. Board member/AmEx Enterprise Growth chief has been named chairman; Steve Bennett will remain CEO. Deferred revenue +4% Y/Y to $3.81B. Consumer revenue (security software/services) +1% Y/Y (was -1% in FQ2), enterprise security +4% (+6% prior), storage/server management +8% (-2% prior, a solid turnaround). $200M in shares repurchased, boosting EPS. SYMC +4.2%. CC at 4:30PM ET (webcast), guidance should be provided. (PR)
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  • Jan. 23, 2013, 8:17 AM
    Symantec (SYMC): FQ3 EPS of $0.45 beats by $0.07. Revenue of $1.79B (+4% Y/Y) beats by $50M. Shares +5.5% premarket. (PR)
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  • Jan. 23, 2013, 12:05 AM
    Notable earnings after Wednesday’s close: AAPL, ALTR, AMGN, BKW, CBST, CCI, FBC, FFIV, HXL, INVN, JEC, LOGI, LRCX, LSI, MIPS, MLNX, NE, NFLX, PLCM, SWFT, SNDK, SYK, SYMC, TER, URI, VAR, WDC
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  • Jan. 22, 2013, 5:35 PM
    Notable earnings after Wednesday’s close: AAPL, ALTR, AMGN, BKW, CBST, CCI, FBC, FFIV, HXL, INVN, JEC, LOGI, LRCX, LSI, MIPS, MLNX, NE, NFLX, PLCM, SWFT, SNDK, SYK, SYMC, TER, URI, VAR, WDC
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  • Jan. 15, 2013, 4:12 PM
    Symantec (SYMC +4.7%) closes with a healthy gain after the WSJ reports the company's Altiris device management/configuration software unit is on the block and drawing P-E interest. Symantec bought Altiris, which competes with ServiceNow (NOW +4.4%) and whose tools manage everything from servers to smartphones, for $800M in '07. The WSJ adds a sale of Symantec's Veritas storage software business, the subject of occasional speculation, is unlikely. (Morgan Stanley upgrade)
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  • Jan. 15, 2013, 11:13 AM
    Symantec (SYMC +1.8%) makes new 52-week highs after Morgan Stanley provides a belated upgrade to Overweight, arguing the security/storage software vendor "has the potential to substantially improve margins, increase capital distribution and modestly improve rev. growth." Ahead of Symantec's Jan. 23 strategic update event, MS is forecasting 2014 EPS (boosted by stock buybacks) of $2.11, above a $1.95 consensus. Symantec has rallied partly on hopes new CEO Steve Bennett's efforts to overhaul the company will bear fruit.
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  • Jan. 1, 2013, 8:30 AM
    Software-security firms are changing their approach after acknowledging that anti-virus products don't work very well - the initial detection rate of 40 programs from the likes of Microsoft (MSFT), Symantec (SYMC), McAfee (INTC) and Kaspersky was just 5% in a study. Firms now don't just try to block malware but also use other technologies such as trying to spot suspicious behavior or "whitelisting."
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Company Description
Symantec Corp provides security, backup and availability solutions. Its products and services protect people and information in any environment, from the smallest mobile device, to the enterprise data center, to cloud-based systems.