symantec
NASDAQ symbol SYMC, makes software that helps protect computers from viruses and electronic attacks. Its best-known product is the top-selling Norton Anti-Virus program.
SYMANTEC CORP. $19.95 (Nasdaq symbol SYMC; TSINetwork Rating: Average)(650-527-8000;www.symantec.com; Shares outstanding: 684.2 million; Marketcap: $13.5 billion; Dividend yield: 3.0%) continues to strengthen its fast-growing cyber security business. It’salso selling off its Veritas Technologies division.
Corporations are spending more on cyber security following high-profile attacks on Sony, Target and Ashley Madison. Symantec is taking advantage of thisby hiring more programmers. It has also cancelled unprofitable contracts and simplified its product lines.
These moves cut the company’s profits by 12.1% in its fiscal 2016 first quarter, which ended July 3, 2015,to $275 million, or $0.40 a share, from $313 million,or $0.45. Sales fell 13.6%, to $1.50 billion from $1.74billion.
...
Corporations are spending more on cyber security following high-profile attacks on Sony, Target and Ashley Madison. Symantec is taking advantage of thisby hiring more programmers. It has also cancelled unprofitable contracts and simplified its product lines.
These moves cut the company’s profits by 12.1% in its fiscal 2016 first quarter, which ended July 3, 2015,to $275 million, or $0.40 a share, from $313 million,or $0.45. Sales fell 13.6%, to $1.50 billion from $1.74billion.
...
SYMANTEC CORP. $21.86 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (650-527- 8000; www.symantec.com; Shares outstanding: 680.7 million; Market cap: $14.8 billion; Dividend yield: 2.7%) sells computer-security technology, including antivirus and email-filtering software, to businesses and consumers. In 2014, Symantec said it would split into two publicly traded firms. One would keep the Symantec name and focus on antivirus and security software and services. The other, called Veritas Technologies, would consist of the company’s information management business, which makes products for data backup and recovery. However, Symantec has now decided to sell Veritas to a group of private investors for $8.0 billion. It expects to close the deal on January 1, 2016....
SYMANTEC CORP., $21.60, Nasdaq symbol SYMC, sells computer-security technology, including antivirus and email-filtering software, to businesses and consumers. In 2014, the company said it would split into two publicly traded firms. One would keep the Symantec name and focus on antivirus and security software and services. The other, called Veritas Technologies, would consist of Symantec’s information-management business, which makes products for data backup and recovery. However, the company has now decided to sell Veritas to a group of private investors for $8.0 billion. It expects to close the deal on January 1, 2016....
BROADRIDGE FINANCIAL SOLUTIONS INC., $56.31, symbol BR on New York, hit a new all-time high this week after reporting strong quarterly results. The company serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. It processes 90% of all proxy votes in the U.S. and Canada. Without one-time items, the company earned $171.5 million in its fiscal 2015 fourth quarter, which ended June 30, 2015. That’s up 18.6% from $144.6 million a year earlier. Earnings per share rose 20.7%, to $1.40 from $1.16, on fewer shares outstanding, beating the consensus estimate of $1.38....
This is the third in our regular series of Spinoff Stock Investigator reports. It’s been a busy year for spinoff news from our stock recommendations: Hewlett-Packard expects to complete spinoffs by the end of 2015; Symantec and United Technologies have decided to accept big purchase offers for some of their businesses instead of spinning them off; and FirstService, eBay, Gannett, BHP Billiton and Baxter International have all completed their spinoffs. We hope you will continue to enjoy and profit from our Spinoff Stock Investigator....
Here are some spinoff stocks we think have gains ahead.
Hewlett-Packard Co., $29.82, symbol HPQ on New York (Shares outstanding: 1.8 billion; Market cap: $53.7 billion; www.hp.com), plans to split into two firms:
The company rejected a similar plan in 2011. However, Hewlett’s 2014 restructuring, which involved cutting jobs and simplifying product lines, has increased its profit margins and strengthened its balance sheet. That gives these new firms more flexibility to invest in new products and make acquisitions.
...
Hewlett-Packard Co., $29.82, symbol HPQ on New York (Shares outstanding: 1.8 billion; Market cap: $53.7 billion; www.hp.com), plans to split into two firms:
- Hewlett-Packard Enterprise will sell computing products, like servers and analytics software, to businesses and governments. It will also offer cloud computing services and financing. Hewlett-Packard Enterprise will have annual revenue of $58.4 billion and operating profits of $6 billion. Meg Whitman, Hewlett’s current chief executive officer, will become this firm’s CEO.
- The second company, called HP Inc., will focus on the slower-growing personal computer (59% of its revenue) and printer (41%) markets. HP Inc. will have annual revenue of $57 billion and $5 billion of profits. Ms. Whitman will be its chairman.
The company rejected a similar plan in 2011. However, Hewlett’s 2014 restructuring, which involved cutting jobs and simplifying product lines, has increased its profit margins and strengthened its balance sheet. That gives these new firms more flexibility to invest in new products and make acquisitions.
...
Both are growth stocks, but we see Sierra Wireless growing with the Internet of Things while Adobe Systems merits a hold right now.
SYMANTEC CORP. $21.86 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (650-527- 8000; www.symantec.com; Shares outstanding: 680.7 million; Market cap: $14.8 billion; Dividend yield: 2.7%) sells computer-security technology, including antivirus and email-filtering software, to businesses and consumers.
In 2014, Symantec said it would split into two publicly traded firms. One would keep the Symantec name and focus on antivirus and security software and services. The other, called Veritas Technologies, would consist of the company’s information management business, which makes products for data backup and recovery.
However, Symantec has now decided to sell Veritas to a group of private investors for $8.0 billion. It expects to close the deal on January 1, 2016.
...
In 2014, Symantec said it would split into two publicly traded firms. One would keep the Symantec name and focus on antivirus and security software and services. The other, called Veritas Technologies, would consist of the company’s information management business, which makes products for data backup and recovery.
However, Symantec has now decided to sell Veritas to a group of private investors for $8.0 billion. It expects to close the deal on January 1, 2016.
...
SYMANTEC CORP. $24.10 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (650-527-8000; www.symantec.com; Shares outstanding: 680.7 million; Market cap: $16.1 billion; Dividend yield: 2.5%) continues to strengthen its fast-growing cybersecurity business while getting set to split off its Veritas Technologies division. Corporations are spending more on cybersecurity following highprofile attacks on Sony, Home Depot and Target. Symantec is taking advantage of this trend by hiring more programmers. It has also cancelled unprofitable contracts and simplified its product lines. These moves cut the company’s profits by 10.2% in its fiscal 2015 fourth quarter, which ended April 3, 2015, to $299 million, or $0.43 a share, from $333 million, or $0.48. Sales fell 6.2%, to $1.55 billion from $1.65 billion—though if you disregard the U.S. dollar’s negative impact on Symantec’s overseas sales, its revenue rose 1%....
MAJOR DRILLING GROUP INTERNATIONAL INC., $6.37, symbol MDI on Toronto, is a large contract-drilling firm that mainly serves the mining industry. In the three months ended April 30, 2015, Major’s revenue fell 1.7%, to $81.2 million from $82.6 million a year earlier. The company narrowed its loss to $13.1 million, or $0.16 a share, from $24.9 million, or $0.31. However, the year-earlier period included $19.5 million of pre-tax restructuring charges. Major’s results could remain weak into next year, but its longer-term outlook is positive. As well, despite the significant industry downturn, the company is now reporting positive cash flow: its cash flow was $5.2 million, or $0.07 a share, in the latest quarter, compared to negative $3.3 million, or $0.04, a year earlier....