Latest Symantec Corp News and Updates
Why Salesforce Acquired Twin Prime
Salesforce continued its spree in December 2016 with its acquisition of Twin Prime, a startup focused on machine learning.
Why Symantec Acquired SurfEasy
On November 6, 2017, Symantec (SYMC) announced that it had acquired SurfEasy. In this series, we’ll look at that deal and other factors driving Symantec’s performance.
How SMAC provides growth opportunities for Symantec
SMAC has led to increased security concerns and more global spending on cyber security, which is expected to reach $71.1 billion in 2014.
If BlackBerry Adopts Android, Its Security Standards Could Suffer
A comparative lack of security for Android shows that BlackBerry could do more harm than good to its image as a secure player by adopting Android as its operating system.
Why Symantec’s Fiscal 3Q18 Earnings Failed to Impress Investors
Symantec (SYMC) reported fiscal 3Q18 revenues of ~$1.2 billion, missing the Wall Street estimate by $40.0 million.
Election Over, Market Still Undecided
We know the nation is politically divided, and now the market is showing us its split personality as well.
Soros Fund Management’s Major Picks amid Trade War
Soros Fund Management’s top five buys in the second quarter were Invesco QQQ Trust (QQQ), Alphabet, eBay, Symantec, and Red Hat.
EMC’s Cash-To-Debt Ratio Is 1x: How Does It Compare?
Cash-to-debt ratio measures the financial strength of a company. EMC’s cash-to-debt ratio in 2Q15 is 1x, which is lower than the industry median of 1.4x.
Jeffrey Ubben’s ValueAct Capital buys a new stake in Symantec
ValueAct Capital initiated a new position in Symantec Corp. (SYMC) that accounts for 1.14% of the fund’s first quarter portfolio.
Why FireEye’s Transition to a Cloud-Based Model Is Good News
FireEye’s email security offerings—EX and ETP—provide protection against cyberattacks by reporting and examining suspicious email attachments and embedded URLs.
George Soros Buys Slack, Increases SPY Short Exposure
The 13F filing showed that George Soros bought almost 500,000 Slack (WORK) shares at an average price of $37.5 per share during the second quarter.
How Could Symantec’s Norton Benefit from LifeLock’s Buyout?
Continued sluggishness in computer market In the previous part, we discussed Symantec’s (SYMC) latest acquisition of LifeLock. PC (personal computer) shipments fell for the eighth consecutive quarter in 3Q16. Gartner said that this was “the longest duration of decline in the history of the PC industry.” Let’s discuss how this acquisition is going to enhance its […]
Could Hexadite Mark the Onset of Microsoft’s M&A Spree?
Believed to be the world’s largest cyberattack, WannaCry ransomware infected more than 230,000 computers in almost 150 countries.
Global PC Market Impacts Symantec’s Consumer Security Segment
The softness in the PC market is rumored to continue in 2015. This will dampen any prospects of a revival in Symantec’s Consumer Security Software business.
Shareholder Activism at Work with Oracle-NetSuite Deal
In accordance with its minimum tender condition, the majority of NetSuite stakeholders must vote in favor of the deal to make it happen.
How Symantec’s Enterprise Security Segment Performed in Fiscal 1Q18
Symantec reportedly blocked more than 1 billion attempted WannaCry ransomware attacks.
Here’s What Just Set FireEye Ablaze
Cybersecurity firm FireEye saw the value of its shares rise 14.5% last week after investment bank Goldman Sachs upgraded the stock to a “buy.”
How Could Cyphort’s Acquisition Benefit Juniper Networks?
In September 2017, Juniper Networks (JNPR) announced that it would acquire software security company Cyphort for an undisclosed sum.
Does EMC Stock Hold Potential for Investors?
In its fiscal 1Q15 earnings release, EMC lowered its expectations. Now, it expects its revenue and EPS to be $25.7 billion and $1.91, respectively.
ValueAct buys a stake in Expeditors International of Washington
ValueAct Capital initiated a new position in Expeditors International of Washington Inc. (EXPD) that accounts for 0.65% of the fund’s first quarter portfolio.
What Impacted Cisco Systems’ Security Revenues in Fiscal 2Q18?
In fiscal 2Q18, Cisco’s (CSCO) Security segment posted revenues of $558.0 million, a 6.0% increase compared to $526.0 million in fiscal 2Q17.
How FireEye and Peers Could Be Impacted by Cybersecurity Attacks and New Laws
Sophisticated cyberattacks and ransomware problems have become a real part of our day-to-day lives—and in the businesses of FireEye and Symantec.
Behind Amazon’s Investment in Cloud Education
Amazon, through its cloud computing division, AWS, recently announced the launch of a new collaboration and education program, Amazon ML Solutions Lab.
Symantec: Information Management Didn’t Grow in Fiscal 1Q16
In fiscal 1Q16, Symantec’s Information Management—Veritas—posted revenue of $587 million. This was a fall of 10% on YoY (year-over-year) basis.
What Drove Fortinet Stock Lower on November 2?
Fortinet (FTNT) fell 13.3% on November 2 to close at $72.56.
Why Intel Spun Off Its Security Business
Intel has agreed to sell a 51% stake in its security business to private investment company TPG in a $4.2 billion cash-stock deal.
Why Bridgewater increased its position in Juniper Networks
Bridgewater Associates increased its position in Juniper Networks from 0.07% in the 1Q portfolio to 0.21% in the fund’s 2Q portfolio.
FireEye Is Trading at a 26% Discount to Average Analyst Estimates
Cybersecurity (HACK) stock FireEye (FEYE) has taken investors on a volatile ride over the last few years.
Analysts See Symantec as Value Stock
Analysts call Symantec (SYMC) a value stock. The average EV-to-sales for the System Software subsector is 3.93x. Symantec is trading at an EV multiple of 2.34x.
Why Analysts Maintain a Neutral View on Symantec Stock
The average target price for Symantec provided by 29 analysts came in at $21.10 on August 27.
What Key Factors Boosted Symantec’s Stock in Fiscal 2016?
On October 26, 2016, Symantec said that it had integrated “Blue Coat Threat Intelligence into its Global Intelligence Network.”
Why Symantec’s margins saw expansion in 2Q15
Symantec exited unprofitable deals with OEMs, which led to the expansion of operating profit margins to 53% in the Consumer Security segment.
Broadcom Arranges Financing for Symantec Acquisition
Semiconductor giant Broadcom is reportedly arranging funds for the acquisition of cybersecurity company Symantec, though the terms are undisclosed.
Why Bridgewater Associates decreased its position in Cisco
Bridgewater Associates decreased its position in Cisco from 0.20% in the 1Q portfolio to 0.09% in the fund’s 2Q portfolio.
Broadcom Stock: Should You Buy after Analyst Upgrade?
On November 19, Morgan Stanley upgraded Broadcom (AVGO) stock, increasing its price target and recommendations. AVGO rose 2.13% and closed at $317.70.
Broadcom Stock Jumps on Morgan Stanley Upgrade
Chip maker Broadcom (AVGO) stock jumped over 2% on November 19 after Morgan Stanley raised its price target and recommendations.
Ping Identity Stock Surges after Q3 Results
Ping Identity shares have gained 20% after it announced its quarterly results on Wednesday. The company reported sales of $61.8 million.
Must-know: An overview of SAP’s 2Q14 earnings
In 2Q14, SAP reported that its revenues and operating profits grew by 2% and 4% compared to 2Q13. In the half year ending 2014 and in 2Q14, SAP reported revenues that grew over 6% and 5% to reach 7.85 billion Euros and 4.15 billion Euros, respectively. It missed the analysts’ estimates by 70 million Euros.
George Soros: Warren Is Most Qualified Candidate
On October 25, George Soros weighed in on the 2020 election. He told the New York Times that Elizabeth Warren is the “most qualified to be president.”
IBM: UBS Downgrades Stock, Predicts Lower Revenues
IBM (IBM) stock fell around 1.13% on Monday and closed the trading session at $132.58. The shares fell after one analyst downgraded the stock.
IBM Stock Fell Due to Revenue Miss: What’s Next?
IBM (IBM) stock fell more than 5% in after-hours trading. The company reported mixed third-quarter results on Wednesday and beat the earnings estimates.
Is Microsoft Stock a ‘Buy’ amid Trade War Tumult?
Microsoft (MSFT) stock fell 1.06% on October 8 and closed at $135.67. At this closing price, its market cap was about $1.04 trillion.
Broadcom Stock Fell in September: Will Weakness Continue?
Broadcom stock closed the trading day at $274.85 and fell 0.44% on October 1. The stock was trading 14.9% below its 52-week high of $323.20.
Can Broadcom’s Stock Offering Reduce Its Debt Burden?
Yesterday, Broadcom (AVGO) stock fell 2.70% in after-hours trading after the chipmaker announced a convertible stock offering.
Broadcom to Deleverage Its Balance Sheet
Broadcom’s CEO is known for his mergers and acquisitions. He targets companies that are market leaders with high cash flows and distressed growth.
Broadcom Stock: Why Is It Falling Today?
Broadcom stock hasn’t been a great performer compared to its semiconductor peers this year. So far, the stock has fallen more than 4% today.
Broadcom Stock a Good Bet for Long-Term Investors
As the trade war eases, Broadcom stock has soared 5.4% through September 10. Broadcom plans to release its Q3 earnings after the market closes.
Oracle Stock Falls Due to Q1 Earnings, Co-CEO Takes Leave
Oracle (ORCL) unexpectedly released its earnings results for the first quarter of fiscal 2020 on Wednesday after the market bell.
Oracle on Track to Surpass Earnings Estimates Again
Given its positive estimate revision, Oracle (ORCL) is likely to report upbeat fiscal 2020 first-quarter earnings on September 12.
Should Symantec Agree to a Private Equity Buyout Offer?
After Friday’s buyout offer for Symantec’s Consumer Cyber Safety segment, its stock soared 4.5% to $24.52. This pushed its market cap to $15.2 billion.
Private Buyout: Symantec Stock Spikes 7%
Symantec (SYMC) stock spiked as much as 7% on Friday and closed 4.5% higher to $24.52 on a buyout offer from Permira and Advent International.
Why Investors Shouldn’t Ignore Oracle Stock
Investors seem to have forgotten about Oracle, despite its strong gains this year. The enterprise software giant’s stock has risen 19.4% year-to-date.
Broadcom Agrees to Aquire a Symantec Business for $10.7 Billion
On August 8, leading semiconductor company Broadcom (AVGO) agreed to acquire Symantec’s Enterprise Security Business for $10.7 billion.
Symantec Sells Enterprise Unit, Stock Up on AVGO Deal
Symantec (SYMC) stock soared and closed 12.3% higher yesterday after the cybersecurity company announced it was selling assets to Broadcom (AVGO).
Symantec Rewards Shareholders with Special Dividend
Yesterday, Symantec (SYMC) inked an all-cash deal with Broadcom (AVGO) to sell its Enterprise Security unit for $10.7 billion.
Symantec Stock Surges Over 10% on Broadcom Buyout Talks
Symantec stock is gaining momentum and is up over 10% in premarket trading on the news of its acquisition deal with Broadcom.
Symantec and Broadcom Have Ended Deal Talks—What Now?
Symantec (SYMC) stock plunged as much as 15% on Monday after the company halted deal negotiations with semiconductor giant Broadcom (AVGO).
How Broadcom Plans to Benefit from Its Upcoming Acquisition
Yesterday, after it was reported that Broadcom was in late-stage talks to acquire Symantec, its stock fell 3.5%. Here’s why.
Symantec Stock Jumped, Broadcom Plunged on Buyout Offer
Yesterday, Broadcom (AVGO) stock plunged 3.5% and closed at $284.89 after it announced its intention to purchase Symantec (SYMC).
Why Symantec’s Earnings Could Remain Sluggish in Q1
Symantec (SYMC) reported adjusted earnings of $0.39 per share in the fourth quarter of fiscal 2019, which declined ~11.4% from both the prior-year quarter and the sequential quarter due to higher investments in the enterprise security segment.
How Analysts Rate Symantec Stock
Symantec’s near-term sales and profits are projected to see increased growth.
What’s Driving Oracle’s Earnings Growth?
Cloud services provider Oracle (ORCL) posted adjusted EPS of $1.16 in the fourth quarter of fiscal 2019, which exceeded analysts’ expectation of $1.07 and marked a rise over the previous year’s $0.95. Oracle has beaten earnings estimates for the last ten consecutive quarters.
Why Symantec’s Valuation Is Compelling
The stock of software giant Symantec (SYMC) has fallen nearly 20% since the beginning of May 2019, which has made it attractive on the valuation front. The stock has gained 2.8% year-to-date as of June 14, compared to the S&P 500, which has risen more than 15% in the same period.
Symantec’s Announcement of Its CEO’s Departure Shook Investors
Symantec (SYMC) lost investors’ confidence when it announced on May 9 that its CEO, Greg Clark, would be leaving the company effective immediately.
Does Symantec Foresee Revenue Growth in 2020?
Symantec’s (SYMC) revenue of $1.195 billion in the fourth quarter of 2019 missed analysts’ estimate of $1.21 billion.
Fortinet Gains Market Share in Worldwide Security Segment
Fortinet managed to increase sales by 17.7% in the fourth quarter
What Are Fortinet’s Key Revenue Drivers for 2019 and Beyond?
Analysts expect Fortinet’s sales to rise 16% in fiscal 2019 to $2.09 billion, 13.2% in 2020 to $2.37 billion, and 11% to $2.62 billion in 2021.
What Could Drive FireEye Shares Higher
FireEye (FEYE) is not yet GAAP-profitable. Though the company has managed to improve its net margin from -104% in 2014 to -29.3% in 2018, it’s likely to improve to -12.5% by 2021.
Is Fortinet Stock Overvalued after Generating Huge Returns?
Cybersecurity (HACK) stock Fortinet (FTNT) has generated returns of 68% in the last 12 months.
Little-Known Alphabet Unit Enters $300 Billion Industry
Alphabet’s (GOOGL) little-known subsidiary called Chronicle is going for a huge prize: the $300 billion cybersecurity market.
Behind Cisco’s $11 Million Canada Investment Plan
Cisco Systems (CSCO) recently announced a plan to invest around $11 million to grow its business in Canada.
Why Oracle’s Revenue Growth Is Getting Sluggish
Software giant Oracle (ORCL) topped revenue estimates of nearly $9.62 billion by 0.3% in the third quarter of fiscal 2019.
Symantec Foresees Revenue Growth in 2019
Symantec (SYMC) topped its revenue estimates in the third quarter of fiscal 2019 and grew slightly from the previous year’s quarter.
Analyzing Symantec’s Partnership with Fortinet
On December 11, Symantec announced that it will partner with Fortinet (FTNT) to provide comprehensive security solutions.
What Next for Imperva?
Imperva (IMPV) now looks to be firmly on track to be acquired by Thoma Bravo after its go-shop window closed.
Why FireEye Stock Is Overvalued
On October 11, FireEye (FEYE) was trading at a forward EV-to-EBITDA multiple of ~26.1x as compared to the industry average of 8.1x.
How Is Microsoft Returning Value to Shareholders?
Tech giant Microsoft (MSFT) has been rewarding its shareholders with dividend payments.
Symantec’s New Email Threat Isolation versus Advanced Attacks
To boost its email security service, Symantec (SYMC) launched its integrated Email Threat Isolation service yesterday to protect end users from high-level email threats.
What Affected Symantec Stock in May?
Shares of cybersecurity (HACK) company Symantec (SYMC) fell 25% in May and closed at $20.78.
Mattel: S&P 500’s Top Gainer on May 15
Mattel, which is an American multinational toy manufacturing company, was the S&P 500’s top gainer on May 15.
Why Symantec Stock Bounced Back on Monday
Symantec (SYMC) stock bounced back on Monday, rising ~9.6% to $21.40 after falling more than 30% on Friday.
Gauging FireEye’s Value Proposition in the Cybersecurity Space
Most companies in the cybersecurity space are relatively new, and so most of them don’t pay dividends—FireEye, Palo Alto Networks, and Fortinet included.
Does Symantec’s Cash Flow Supports Its Acquisition Strategy?
Cash, debt, and cash flow Previously, we discussed Symantec’s (SYMC) operating segments’ revenue and margin contribution in fiscal 2Q18. In this part, we’ll look at Symantec’s balance sheet strength. In fiscal 2Q18, which ended September 30, 2017, Symantec had ~$2.0 billion in cash and cash equivalents. On September 30, 2017, Symantec had $6.2 billion in long-term […]
How Symantec Is Enhancing Its Endpoint Protection Product Line
Differentiating features of new releases Previously, we discussed Symantec’s (SYMC) Integrated Cyber Defense Platform. It is hoped that newly released SEP (Symantec Endpoint Protection) 14.1, SEP Mobile, and ATP (Advanced Threat Protection) 3.0 will help the company deliver defense across traditional and modern endpoints. Let’s look at what gives these new releases an edge over peer […]
How SurfEasy Could Benefit Symantec’s Consumer Segment
SurfEasy acquisition Previously, we discussed Symantec’s (SYMC) acquisition announcement of SurfEasy. After the acquisition, Symantec aims to integrate SurfEasy into its Consumer Digital Safety segment, which includes Norton and LifeLock. SurfEasy’s VPN (virtual private network) service will add privacy, information, and identity protection to Symantec’s digital safety offerings. Prior to its acquisition, SurfEasy was an OEM (original equipment manufacturer) […]
Analyzing Symantec, a Low Dividend Grower
Symantec’s costs and expenses fell 6.0% and 31.0% in 2015 and 2016, respectively.
Inside Cisco’s Security Segment: Revenue Outlook for Fiscal 1Q18
In fiscal 2017, Cisco’s Security segment generated revenues of $2.2 billion—a rise of 9% YoY, compared with its revenues of $2 billion in fiscal 2016.
How IBM Stock Compared to the S&P 500
IBM stock versus the S&P 500 versus the Dow Jones Earlier in this series, we discussed the factors that weighed on IBM stock. If IBM’S (IBM) soon-to-be-announced 3Q17 earnings can beat analyst and market expectations, it could provide a significant boost to its stock. IBM’s cloud offerings’ increased traction and their increased contribution to its […]
Why Intel Fought to Keep the McAfee Brand
According to research firm MarketsandMarkets, the global cybersecurity market is expected to surpass $231.9 billion by 2022, compared with an estimated $137.9 billion this year.
Understanding FireEye’s Stock Surge This Year
FireEye’s improved earnings and transition toward SaaS Improved growth and earnings and a renewed focus on cybersecurity have acted as catalysts for FireEye’s (FEYE) stock rise of ~42% YTD (year-to-date). FireEye’s fiscal 2Q17 results and its guidance for the current quarter exceeded analysts’ expectations. FireEye’s transition to the SaaS (software as a service) model bodes […]
Assessing FireEye’s EU Opportunities in General Data Protection Regulations
According to the EU’s GDPR, companies are required to make a “good faith effort” to inform regulatory authorities of data breaches within 72 hours.
How Wall Street Analysts View Symantec Stock
Of the 28 analyst recommendations for Symantec stock, there was only one “sell” recommendation on August 24, 2017. More than 50% of the recommendations were “hold,” and the rest were “buy.”
Behind HACK’s Investment Strategy
HACK follows a replication strategy, which is an indexing strategy that involves investing in securities in the same proportions as the index.
Chart in Focus: Symantec’s Leadership in the Secure Web Gateway Space
According to MarketsandMarkets, the global SWG market is expected to grow at a CAGR of 20.5% to $5.6 billion by 2020, up from $2.2 billion in 2015.
What Role Did Google Play in the Symantec–DigiCert Deal?
In its fiscal 1Q18 earnings release, Symantec highlighted that its Website Security and related PKI solutions are expected to contribute ~$400 million and ~$180 million in overall revenues and operating income, respectively.
Why Symantec Sold Its Web Security Business to DigiCert
Symantec purchased its Website Security business from VeriSign in 2010. In 2012, the company bought the remaining interest in VeriSign Japan.
Why Symantec Acquired Fireglass
Symantec announced the acquisition of Fireglass in early July 2017.
Why Symantec’s Enterprise Security Segment Is Inclined toward the Cloud
In late May 2017, Microsoft (MSFT) acquired Hexadite to strengthen its position in the cybersecurity space.
Cisco’s Value Proposition in the Cybersecurity Space
Recurring revenues made up 31% of Cisco’s total fiscal 3Q17 revenues compared to 29% in fiscal 3Q16.
What Technical Indicators Say about Cisco Stock
Cisco’s 14-day MACD of -0.30 shows a downward trading trend because the figure is negative.