Key Developments: Symantec Corp (SYMC.O)
22.73USD
18 Jun 2013
$0.40 (+1.79%)
$22.33
$22.32
$22.81
$22.32
11,890,608
8,553,568
$25.26
$13.06
Latest Key Developments (Source: Significant Developments)
Symantec Corp Cutting Up To 1,700 Jobs-DJ
Dow Jones reported that Symantec Corp may lay off as many as 1,700 employees as early as, sources familiar with the Company's plans tell AllThingsD. The cuts are part of a Company-wide reorganization first announced in January as part of a turnaround plan instituted. Full Article
Symantec Corp Reaffirms FY 2014 Revenue Guidance; Issues FY 2014 EPS Guidance Below Analysts' Estimates; Issues Q1 2014 Guidance Below Analysts' Estimates-Conference Call
Symantec Corp announced that for fiscal 2014, it remain committed to revenue guidance of 0% to 2% growth and expects non-GAAP EPS to grow between 5% and 7%. For the first quarter of 2013, it expects GAAP revenue to be in the range of $1.61 billion to $1.65 billion, compared to $1.67 billion in the year-ago period, GAAP earnings per share (EPS) to be between $0.11 and $0.12 and Non-GAAP earnings per share to be between $0.35 and $0.36. The Company reported revenue of $6.906 billion and EPS of $1.77 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.69 billion and EPS of $0.44 for the first quarter of 2014; revenue of $6.992 billion and EPS of $1.92 for fiscal 2014. Full Article
Symantec Corp Declares Quarterly Cash Dividend
Symantec Corp announced that the Board of Directors has declared a quarterly cash dividend of $0.15 per common share to be paid on June 27, 2013 to all shareholders of record as of the close of business on June 19, 2013. The ex-dividend date will be June 17, 2013. Full Article
Symantec Corp Will Pay First Dividend In June 2013 Quarter-DJ
Dow Jones reported that Symantec Corp will pay its first dividend during the June quarter. The dividend is expected to be 52 cents a share, which is 2.5% of the share price on the day the board approved the decision. Full Article
Symantec Corp Plans Layoffs-Reuters
Reuters reported that Symantec Corp plans to slash its management ranks and reorganize into 10 business areas, but has decided not to sell off major assets after a strategic review by its new early this month. 'Managers will be laid off'said the CEO. Full Article
Symantec Corp Elects Dan Schulman As Non-Executive Chairman
Symantec Corp announced that the board of directors has elected director Dan Schulman to the position of Non-Executive Chairman while Steve Bennett remains President and Chief Executive Officer. Full Article
Symantec Corp Puts Altiris Inc Unit Up For Sale-Reuters
Reuters reported that Symantec Corp has put its unit Altiris Inc up for sale and is drawing interest from private equity firms, the Wall Street Journal said. The sale is expected to fetch less than the amount Altiris was bought for, the daily said. At the time of purchase in 2007, Symantec paid $33 a share, or $830 million. Altiris provides IT management software that helps companies manage end point connections such as laptops and mobile devices. Full Article
Symantec Corp Issues Q3 2013 Guidance; EPS Guidance Below Analysts' Estimates
Symantec Corp announced that for the third quarter of 2013, it expects GAAP revenue of $1.72 billion to $1.75 billion, GAAP diluted earnings per share (EPS) between $0.17 and $0.19, Non-GAAP diluted earnings per share (EPS) between $0.36 and $0.38 and GAAP deferred revenue is estimated to be between $3.765 billion and $3.825 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.72 billion and EPS of $0.42 for the third quarter of 2013. Full Article
Return Path Partners With Symantec Corp
Return Path announced that it strengthened anti-phishing solution through an agreement with Symantec Corporation. Under the terms of the agreement Return Path will include Symantec’s Trusted Domain List data feed in the authentication and filtering logic that powers Return Path’s anti-phishing used by email senders to identify and prevent phishing attacks against their brands. Full Article
Symantec Corporation Issues Q2 2013 Guidance Below Analysts' Estimates
Symantec Corporation announced that for second quarter of 2013, it expects GAAP revenue to be in the range of $1.635 billion and $1.665 billion, GAAP diluted earnings per share are estimated between $0.15and $0.19 as compared to $0.24 in the year ago period. Non-GAAP diluted earnings per share are estimated between $0.35 and $0.39 as compared to $0.39 in the year ago period, down 10% to flat on an as-reported basis. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.688 billion and EPS of $0.40 foe second quarter of 2013. Full Article
Symantec forecasts weak results as yen depreciates
- Symantec Corp reported a bigger-than-expected quarterly profit, but the maker of the Norton anti-virus software forecast first-quarter results well below analysts' estimates due to a weak Japanese yen.
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