Symantec (SYMC) Misses Q1 EPS by 3c; Issues Light Q2 Outlook
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Citi Downgrades Symantec (SYMC) to Neutral
August 11, 2015 2:38 PM EDTCiti downgraded Symantec (NASDAQ: SYMC) from Buy to Neutral.
For an analyst ratings summary and ratings history on Symantec click here. For more ratings news on Symantec click here.
Shares of Symantec closed at $22.91 yesterday.
... MoreCredit Suisse Downgrades Symantec (SYMC) to Neutral (Earlier)
August 11, 2015 1:16 PM EDTCredit Suisse downgraded Symantec (NASDAQ: SYMC) from Outperform to Neutral earlier and lowered its price target to $25.00 (from $30.00). The downgrade follows news the company sold Veritas to Carlyle Group for $8 billion.
"Although we had estimated that Veritas could be valued near $8.8 billion, we are... More
Symantec (SYMC) trading halted with news pending
August 11, 2015 6:55 AM EDTSymantec (NASDAQ: SYMC) trading halted with news pending.
... MoreThe Carlyle Group (CG) to Buy Veritas from Symantec (SYMC) for $8B Cash
August 11, 2015 6:50 AM EDT(Updated - August 11, 2015 6:59 AM EDT)
Symantec (Nasdaq: SYMC) announced that it has entered into a definitive agreement to sell its information management business, known as Veritas, to an investor group led by The Carlyle Group (Nasdaq: CG) together with GIC, Singapores sovereign wealth fund, and other expected co-investors for $8 billion in cash. The transaction, which was unanimously approved by Symantec's Board of Directors, is expected to close by January 1, 2016.
Upon closing of the transaction, Symantec expects to receive approximately $6.3 billion in net cash proceeds, subject to certain customary... More
