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. $20.76 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 691.6 million; Market cap: $14.3 billion; Dividend yield: 2.9%) sells computer-security technology, including anti-virus and email-filtering software, to businesses and consumers. It also offers data-archiving software.
In Symantec’s fiscal 2014 third quarter, which ended December 27, 2013, its earnings per share rose 13.3%, to $0.51 from $0.45 a year earlier. The gains were mainly due to savings from a new restructuring plan that includes laying off 30% to 40% of its managers and simplifying its product lines.
Revenue fell 4.8%, to $1.7 billion from $1.8 billion. That’s mainly because the company is retraining its sales staff as part of its restructuring, and that disrupted their closing of new deals. Slow computer sales have also hurt demand for anti-virus software.
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In Symantec’s fiscal 2014 third quarter, which ended December 27, 2013, its earnings per share rose 13.3%, to $0.51 from $0.45 a year earlier. The gains were mainly due to savings from a new restructuring plan that includes laying off 30% to 40% of its managers and simplifying its product lines.
Revenue fell 4.8%, to $1.7 billion from $1.8 billion. That’s mainly because the company is retraining its sales staff as part of its restructuring, and that disrupted their closing of new deals. Slow computer sales have also hurt demand for anti-virus software.
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SYMANTEC CORP., $18.20, Nasdaq symbol SYMC, fell 13% on Friday after it fired Steve Bennett, its president and CEO. The company said the decision resulted from an ongoing review and wasn’t in response to any single event. Symantec has appointed board member Michael Brown as its interim CEO. The company sells computer-security technology, including anti-virus and email-filtering software, to businesses and consumers. Symantec is in the midst of a major restructuring that mainly involves cutting jobs and streamlining its product lines and marketing operations. The plan should help the company expand its profit margin (operating income divided by revenue) to over 30.0% by 2017; in the current quarter, which ends March 31, 2014, Symantec expects its profit margin to range from 24.5% to 26.0%....
CHESAPEAKE ENERGY CORP., $24.67, symbol CHK on New York, is preparing to spin off its oil-field services division into a separate, publicly traded company. The new firm would be called Seventy Seven Energy and would trade under the SSE symbol. Chesapeake would then hand out all of the new company’s shares to its shareholders in a tax-free transaction. The division, now called Chesapeake Oilfield, provides contract drilling, hydraulic fracturing, equipment rentals, trucking and other services. Combined, drilling and hydraulic fracturing supply over 75% of its revenue. Chesapeake Oilfield has around 71 active drilling rigs and nine fleets of pressure-pumping trucks for fracturing....
SYMANTEC CORP. $20.54 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408- 517-8000; www.symantec.com; Shares outstanding: 696.0 million; Market cap: $14.3 billion; Dividend yield: 2.9%) earned $0.51 a share in its fiscal 2014 third quarter, which ended December 27, 2013, up from $0.45 a year earlier.
The gains were mainly due to savings from a new restructuring plan that includes laying off 30% to 40% of its managers and simplifying its product lines.
Revenue fell 4.8%, $1.7 billion from $1.8 billion....
The gains were mainly due to savings from a new restructuring plan that includes laying off 30% to 40% of its managers and simplifying its product lines.
Revenue fell 4.8%, $1.7 billion from $1.8 billion....
SYMANTEC CORP. $20.54 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408- 517-8000; www.symantec.com; Shares outstanding: 696.0 million; Market cap: $14.3 billion; Dividend yield: 2.9%) earned $0.51 a share in its fiscal 2014 third quarter, which ended December 27, 2013, up from $0.45 a year earlier.
The gains were mainly due to savings from a new restructuring plan that includes laying off 30% to 40% of its managers and simplifying its product lines.
Revenue fell 4.8%, $1.7 billion from $1.8 billion. That’s mainly because the company is retraining its sales staff as part of its restructuring, and that disrupted their closing of new deals. Even so, the latest revenue beat the consensus forecast of $1.66 billion.
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The gains were mainly due to savings from a new restructuring plan that includes laying off 30% to 40% of its managers and simplifying its product lines.
Revenue fell 4.8%, $1.7 billion from $1.8 billion. That’s mainly because the company is retraining its sales staff as part of its restructuring, and that disrupted their closing of new deals. Even so, the latest revenue beat the consensus forecast of $1.66 billion.
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PLEASE NOTE: Next week, Canadian Wealth Advisor will reveal its “#1 Safety-Conscious Stock Pick for 2014.” One week from today, on February 7, 2014, shortly after the stock market closes at 4:00 p.m. Toronto time, we will reveal our our #1 Safety-Conscious Pick for 2014 to subscribers of Canadian Wealth Advisor. You can be among the first to hear about our #1 pick for 2014. Because you’re a loyal subscriber, we are happy to offer you a bargain-priced, no-risk introduction to Canadian Wealth Advisor. It gives you the first month—and the 2013 U.S. Stock of the Year—FREE. But you must act now. Click here. ALARMFORCE INDUSTRIES, $10.10, symbol AF on Toronto, reports that its sales rose 10.8% in the three months ended October 31, 2013, to $12.6 million from $11.4 million a year earlier. The company earned $2.6 million, or $0.21 a share, up sharply from $708,539, or $0.06. AlarmForce’s revenue rose along with its customer base: it ended the period with 141,200 subscribers, up 5.3% from 134,100 a year earlier....
SYMANTEC CORP. (Nasdaq symbol SYMC; www.symantec.com) sells computer security technology, including anti-virus and email filtering software, to businesses and consumers. It also offers data-archiving software....
SYMANTEC CORP. $23.62 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 696.0 million; Market cap: $16.2 billion; Dividend yield: 2.5%) sells computer security technology, including anti-virus and emailfiltering software, to businesses and consumers....
SYMANTEC CORP. $23.62 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 696.0 million; Market cap: $16.2 billion; Dividend yield: 2.5%) sells computer security technology, including anti-virus and emailfiltering software, to businesses and consumers. It also offers data-archiving software.
In Symantec’s fiscal 2014 second quarter, which ended September 27, 2013, its earnings rose 11.6%, to $355 million, or $0.50 a share. A year earlier, it earned $318 million, or $0.45.
Savings from Symantec’s new restructuring plan were behind the gains. This initiative includes laying off 30% to 40% of its managers and simplifying its product lines.
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In Symantec’s fiscal 2014 second quarter, which ended September 27, 2013, its earnings rose 11.6%, to $355 million, or $0.50 a share. A year earlier, it earned $318 million, or $0.45.
Savings from Symantec’s new restructuring plan were behind the gains. This initiative includes laying off 30% to 40% of its managers and simplifying its product lines.
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