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…
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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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