Symantec Can Cry About Something Other Than Microsoft
MSFT)(SYMC)
Hand Symantec the crying towel again. It's earnings stank. Profits were up 20% at the security software company, but that was below was Wall St. wanted. The company also complained the its sales in Europe were poor. The company has a profit of $123 million dollars, but the results drove the stock down 7% after hours.
Symantec had already begun to drop from its recent high of $22. It closed at $20.78 yesterday. Maybe investors were thinking the quarter would be off. The stock could lose another $1.50 today. Easy.
Symantec has been complaining that the security software in Microsoft's new Vista operating system will hurt sales of it Norton anit-virus software. It has asserted that the new features in Vista constitute part of Microsoft's effort to rule the world. Antiturst. Monopoly.
One of the problems with their lament is that the Vista software is not even widely available. So, perhaps the security softare firm should wait and see if its ability to see the future is as good as the company believes it is.
There is also the issue that Symantec is doing poorly all on its own. It can't blame that on Microsoft. But, it could try.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
Hand Symantec the crying towel again. It's earnings stank. Profits were up 20% at the security software company, but that was below was Wall St. wanted. The company also complained the its sales in Europe were poor. The company has a profit of $123 million dollars, but the results drove the stock down 7% after hours.
Symantec had already begun to drop from its recent high of $22. It closed at $20.78 yesterday. Maybe investors were thinking the quarter would be off. The stock could lose another $1.50 today. Easy.
Symantec has been complaining that the security software in Microsoft's new Vista operating system will hurt sales of it Norton anit-virus software. It has asserted that the new features in Vista constitute part of Microsoft's effort to rule the world. Antiturst. Monopoly.
One of the problems with their lament is that the Vista software is not even widely available. So, perhaps the security softare firm should wait and see if its ability to see the future is as good as the company believes it is.
There is also the issue that Symantec is doing poorly all on its own. It can't blame that on Microsoft. But, it could try.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
posted by douglas mcintyre at 6:20 AM
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