Symantec adjusted Q1 EPS 33c, in-line with Street view

symantec adjusted q eps c in line with street view
Symantec adjusted Q1 EPS 33c, in-line with Street view


Breaking

Symantec discloses more about internal investigation after stock recovers

Symantec Corp. released slightly more information Monday afternoon about an internal investigation that rocked the security-software company’s stock last week, after shares recovered strongly in Monday’s regular session. Just ahead of a conference call planned for 4:30 Eastern time, Symantec released a statement saying that a former employee’s accusations against the company related to “the company’s public disclosures including commentary on historical financial results, its reporting of certain non-GAAP measures including those that could impact executive compensation programs, certain forward-looking statements, stock trading plans and retaliation.” It also said that Symantec did not expect material adverse changes to historical financial disclosures. Symantec’s earlier disclosures largely referred to the accusations as “concerns raised by a former employee,” and financial in nature. Chief Executive Greg Clark and CFO Nick Noviello were expected to lead the conference call and discuss financial guidance. Symantec stock enjoyed its strongest one-day percentage gain since 2012 on Monday, after announcing that it would have more to say after the bell, gaining 9.6%, and added another 1.6% in after-hours trading following the statement’s release. Shares dove 33.1% Friday, the worst day for the stock since 2001.

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