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Symantec Corporation (SYMC)

  • Feb. 7, 2012, 8:56 AM
    As part of a sting operation, Symantec (SYMC) tells a hacker group that it will pay it a $50K ransom to keep the source code for some of the firm's security products from being posted on the Internet. After playing a bit of cat-and-mouse, the "talks" broke down and a 1.2GB file that's allegedly software code for one of the firm's products has been posted online.
  • Feb. 2, 2012, 10:08 AM
    AVG Technologies' (AVG) IPO is looking like a disaster - after pricing its IPO at $16/share last night, shares are currently trading at $13.59, down 15%. The security software maker posted healthy growth in 2011, but faces tough competition from Symantec (SYMC) and Intel's (INTC) McAfee unit. (S-1 filing)
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  • Jan. 26, 2012, 6:29 PM
    Symantec (SYMC) and Intel's (INTC) McAfee unit engage in a war of words after Symantec CFO James Beer tells Reuters his company took share in the corporate antivirus software market. McAfee asserts it saw record bookings in Q4, and closed a record number of $1M+ deals. With Symantec's Q4 report revealing enterprise security to be a pocket of strength, it's easy to see why the company wants to draw attention to it.
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  • Jan. 26, 2012, 1:17 PM
    Symantec (SYMC -0.6%) issues a security report (.pdf) that includes a recommendation that users of at least 3 of its products are at risk of a hacking attack until a patch is finalized.
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  • Jan. 25, 2012, 4:30 PM
    More on Symantec's FQ3: Growth was driven by a 17% Y/Y increase in enterprise security software sales, but held back by a 13% drop in services revenue, thanks to an ongoing business model shift. Symantec is authorizing a new $1B stock buyback, increasing its total authorization to $1.2B. Deferred revenue rose 8% Y/Y and 6% Q/Q to $3.67B. However, operating cash flow fell 12% Y/Y, to $403M. SYMC +0.5% AH. (PR)
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  • Jan. 25, 2012, 4:18 PM
    Symantec (SYMC): FQ3 EPS of $0.42 beats by $0.01. Revenue of $1.715B (+7% Y/Y) beats by $5M. Company expects FQ4 revenue of $1.72B-$1.73B vs. $1.75B consensus. Expects EPS of $0.41-$0.42 vs. $0.43 consensus. SYMC +0.5% AH. (PR)
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  • Jan. 25, 2012, 12:10 AM
    Notable earnings after Wednesday's close: AMLN, CCI, CTXS, DRE, ETFC, JEC, LRCX, LSI, MUR, NE, NFLX, OI, PMTC, SNDK, SUSQ, SWK, SYMC, TER, URI, ZNGA
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  • Jan. 24, 2012, 5:35 PM
    Notable earnings after Wednesday's close: AMLN, CCI, CTXS, DRE, ETFC, JEC, LRCX, LSI, MUR, NE, NFLX, OI, PMTC, SNDK, SUSQ, SWK, SYMC, TER, URI, ZNGA
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  • Jan. 16, 2012, 5:24 PM
    Symantec (SYMC) is acquiring LiveOffice, a provider of cloud-based data archiving services for enterprises, for $115M. As Forrester's Brian Hill notes, LiveOffice's solutions complement Symantec's locally-installed Enterprise Vault archiving software, as well as the eDiscovery software it obtained through its 2011 acquisition of Clearwell Systems.
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  • Jan. 13, 2012, 11:20 AM
    AVG Technologies, a Dutch developer of PC and server security software, is filing for a $125M IPO under the ticker AVG. The company, which competes with Symantec (SYMC) and Intel's (INTC) McAfee division, generated revenue of $198.1M (+24% Y/Y) in the first 9 months of 2011. It also posted net income of $66.8M, though this figure was boosted by a $52.2M income tax benefit. (S-1 filing)
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  • Jan. 11, 2012, 9:29 AM
    Symantec (SYMC) is the target of a lawsuit alleging it uses scare tactics to get trial users of its PC security and maintenance software (who often get the software pre-installed) into upgrading to paid versions. Symantec's security software business has been struggling with slow industry growth, and rising competition from free solutions such as Microsoft's (MSFT) Security Essentials. (previously)
  • Jan. 6, 2012, 5:56 AM
    A hacker group called Lords of Dharmaraja has posted on the Internet a file explaining how Symantec’s (SYMC) flagship Norton Antivirus program is designed to work and threatened to release the source code. Symantec says that the post is an outdated document from 1999 but that "there is no actual source code present."
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  • Dec. 6, 2011, 1:36 PM
    Barclays' Raimo Lenschow launches coverage of U.S. software stocks with a bullish stance, arguing the industry remains a bastion of growth in an uncertain macro climate. Like others, Lenschow sees vendors exposed to cloud computing, SaaS, and big data performing well, and names CTXS, VMW, CRM, and PMTC his top picks. However, he's wary of MSFT and SYMC, citing weak growth prospects.
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  • Nov. 28, 2011, 10:39 AM
    CommVault (CVLT +7.9%) joins Quantum (QTM +7.1%) in taking off on speculation NetApp (NTAP +3.5%) might bid for the company. Though unlike Quantum, which sports a price/sales ratio of just 0.8, CommVault wouldn't come cheap: the storage software vendor, which has been taking share from Symantec (SYMC) in major enterprise accounts, has a trailing P/E of 51.
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  • Nov. 21, 2011, 1:17 PM
    AT&T (T -1.3%) notifies customers of a large-scale organized attempt to obtain personal information from their online accounts. The system hack of AT&T follows up news last week of a foreign cyberattack on an Illinois utility that is being investigated as a potential terrorist event. Will network security stocks such as SYMC, MANT, BAH, CACI, DRCO, and SAI get a boost after the proliferation of high-profile network breaches?
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  • Nov. 15, 2011, 3:21 PM
    Frank Voisin takes a long look at Symantec (SYMC +1.9%) and comes away "extremely unimpressed, [seeing] a company that relies on acquisitions for growth and as a result of this reliance has squandered a great deal of investor capital." Despite strong growth, SYMC "operates with far too much debt and appears mired in perpetual restructuring."
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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.