| Symantec Expects to Close Veritas Sale by January End | |
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Later, in April, The Wall Street Journal reported that Symantec was looking for potential buyers for Veritas. This was further confirmed by a Reuters report stating that the company had contacted NetApp Inc. NTAP, EMC Corporation EMC and several private equity firms in this regard. We believe that the divestment is likely to streamline Symantec’s operations and maximize shareholders’ value. Renewed focus on the core business can also revive its operational performance. The company expects to receive net cash proceeds of approximately $6.3 billion from the deal. While a portion of the proceeds will be returned to shareholders, the rest will be reinvested in the business. Symantec has a lot to worry about at the moment, given the persistent weakness in PC sales that is hurting its core Norton Anti-virus software business. Other than the intensifying competition, this business has been dealt a severe blow by the increased usage of smartphones and tablets. Many investors are skeptical about whether the spin-off would work in favor of this beleaguered company. The past decade has seen a host of new specialized security companies like Kaspersky and Quick Heal, making their presence felt. These companies will not leave a stone unturned to strengthen their position as the behemoth struggles to re-invent itself. We believe that the deal will provide Symantec the much-needed funds to continue to expand its product portfolio and presence in the fast-growing markets. Conclusion Symantec does not have a long time to revamp and reorganize itself. The spin-off should be a good thing for the company, as it will drive more focus in its core business, which should translate into new products and a more focused sales team. These two factors in combination should lead to increased revenues and net income. Currently, Symantec has a Zacks Rank #5 (Strong Sell). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SYMANTEC CORP (SYMC): Free Stock Analysis Report EMC CORP -MASS (EMC): Free Stock Analysis Report NETAPP INC (NTAP): Free Stock Analysis Report CARLYLE GROUP (CG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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SYMANTEC est une société d’exploration minière basée aux Etats-Unis D'Amerique. SYMANTEC est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 14,7 milliards US$ (13,2 milliards €). La valeur de son action a atteint son plus bas niveau récent le 09 octobre 1992 à 0,75 US$, et son plus haut niveau récent le 04 novembre 2019 à 23,75 US$. SYMANTEC possède 618 830 016 actions en circulation. |