Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Roger A. Babb who wrote (4892)	8/24/1997 4:48:00 AM
From: AlienTech	of 9285

Whats your take on shorting SYMC? With such a huge lawsuit on them for false and misleading press releases I would think that mcaf has a good chance to win some money in this case and its also headline news everywhere. cnnfn.com msnbc.com biz.yahoo.com biz.yahoo.com <- symc press release biz.yahoo.com For a stock thats fairly valued around 16 and fully valued around 19, its trading around 25 now and its dropping in after hours trading already. The war between MCAFEE ASSOCIATES (Nasdaq: MCAF) (N) (S) and SYMANTEC (Nasdaq: SYMC) (N) (S) looks more and more like the ongoing squabble between CADENCE DESIGN (NYSE: CDN) (N) (S) and AVANT! (Nasdaq: AVNT) (N) (S) every day. This morning Symantec issued a press release claiming that McAfee had copped to "misappropriating" some of Symantec's software code. McAfee now says that it did nothing of the kind, with General Manager Zach Nelson commenting this morning, "It would certainly be a novel approach for McAfee to admit something through a Symantec press release... [a]nd it should have been your first clue that the statement is completely inaccurate." McAfee says the 100 lines of allegedly nonfunctional code to support the NEC9800 in Japan are absolutely irrelevant to the VirusScan product. Certainly the publicity Symantec has generated has hurt shares of McAfee, down $4 1/4 to $55 today, while shares of Symantec have risen nicely in the past few weeks. Although this ongoing battle leaves a lot of open questions, this update courtesy of Mr. Nelson helps clarify today's Fool Plate Special in the Lunchtime News.

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