Symantec Corporation (NASDAQ:SYMC) shares surged by 9.57%


Dallas, Texas 08/01/2013 (Financialstrend) – Symantec Corporation (NASDAQ:SYMC) announced the first quarter results increasing the shares to $25.11 per share. Security and Compliance, Storage and Server Management, Services and Consumer are the company’s major operating segments. The company also continues their relationships with Internet service providers, retail, online stores and finally original equipment manufacturers. The company is the producer of Norton antivirus software and other utilities to protect data-storage and corporate networks. Stephen Bennett, the Chief Executive officer announced that they have planned to produce organic-revenue growth by 5% and operating margins by 30% by the end of 2015. The company also advertized to sell corporate security and the company is presently moving from consumer security business to subscription based business. This subscription based business gives opportunity to sell additional features and recurring revenue. The company had presented a profit of $157 million. 44 cents was the adjusted per-share earnings. 82.4% was the Gross margin. The company had 1% revenue in the protection and user productivity segment, 7% revenue from the information security segment and 4% revenue in the information management segment.

Symantec Corporation (NASDAQ:SYMC) had presented gains of 9.57% with the trading on Wednesday and had thereby closed at $26.68 per share. While the stock opened at $25.61 per share, there had been fluctuations in the intraday prices ranging between $25.60 and $26.89 per share during the day. The 52 week low price for the stock is presently at $15.48 and 52 week high price is at $26.89 per share. There are a total 698.00 million shares in the market valuing to a market cap of $18.62 billion. The stock witnessed around 18.89 million shares being exchanged hands on Wednesday while the average level of trading is at 6.82 million shares a day.