Symantec’s (SYMC) Security Blanket
Symantec (SYMC) is an odd company. Its shares are down about 12% over the last two years, and the S&P is up about 25%. The firm has bought rivals. It has accused Microsoft (MSFT) of bundling its own security software…
Symantec (SYMC) is an odd company. Its shares are down about 12% over the last two years, and the S&P is up about 25%. The firm has bought rivals. It has accused Microsoft (MSFT) of bundling its own security software with Vista, giving Redmond an unfair edge in industry.
Yesterday’s earnings appear to make it clear that the company is doing just fine, and its major problems may be behind it. The stock moved up 10% after hours as net income for the period ended June 29 was $95.2 million, or $.10 a share, compared with $100.5 million, or $.10 a share, in the period a year earlier. Meanwhile revenue rose to $1.4 billion, from $1.27 billion.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.