Turn For Symantec In Pre-Market Trading Following Q1 Performance

Posted in Uncategorized 
July 29th, 2010

Symantec Corporation (NASDAQ: SYMC) has fallen behind earnings after announcing Q1 profits of $0.20 per share compared to a market expectation of $0.35 per share.  At 8:35 AM EST Symantec was down 9.75% from $14.67 to $13.24 and has traded 241,310 shares, compared with the daily average of 15,290,500, making it one of the greatest losers with regards to both volume and percentage in today’s pre-market trading.  This comes during a 52-week range of $13.58 – $19.16.  Shares are currently trading below both the 50-day and 200-day price averages.

This downturn comes amidst rising concern over competitive threats to Symantec’s primary business, which is software security.

-Michael B. Sauter

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