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Topic: Growth Stocks

SYMANTEC $15.39 – Nasdaq symbol SYMC

SYMANTEC $15.39 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 751.0 million; Market cap: $11.6 billion; No dividends paid) has agreed to sell its 49% stake in Huawei Symantec Technologies for $350 million. This joint venture sells computer security and data-storage products to businesses, mainly in China. The buyer is Symantec’s partner, Hong Kong-based Huawei Technologies Co.

The joint venture has lost money since it was formed in 2008, so selling it will make Symantec more profitable.

Symantec is a buy.

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