Boston, MA 10/10/2014 (wallstreetpr) – Symantec Corporation (NASDAQ:SYMC) which is the maker of popular Norton antivirus software saw its share price slide down by nearly 2.37 percent to bottom out at $23.44 during trading yesterday. The slide came a day after the MOUNTAIN VIEW, California based tech firm made public its plan to bifurcate the company into two publicly traded entities. These yet to be divided units are being readied to focus on security software and data management respectively, once the separation is executed. Analysts have opined that the move is aimed at bringing the maximum value to the share holders of the company. By splitting the firm into two, the management team of Symantec Corporation (NASDAQ:SYMC) are aiming to get better valuation from prospective buyers. The firm has in recent times been struggling to keep pace with its peers with respect to revenue and market growth.
The stock of PC and Printer manufacturer Hewlett-Packard Company (NYSE:HPQ) continued to bleed on 9th October, as a result of its beginning of the week announcement to split the company into two. Share price was down 4.45 percent to settle at $34.32. The Wall Street Journal had first reported this news earlier this week. One entity would be running the “computers and printers” business, while the second entity would be concentrating on running the “data storage, servers and software” side of the business. .
In spite of increasing its earnings guidance for its third quarter 2014 operations, the investor community panned the stock of biotech firm Ligand Pharmaceuticals Inc. (NASDAQ:LGND) during 9th October trading. The drug maker announced yesterday that it anticipates 3Q14 adjusted EPS to come in the range of $0.33 to $0.37 per share, as against the previous estimates of $0.26 to $0.29 cents per share. It has also increased its 3Q revenue outlook to $15 million, as against the previous outlook for $13 million. It also underscored its previous 4Q 2014 guidance. It hopes to bring in revenue in the range of $22.5 million and $24.5 million during the 4Q.
