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Technology Stocks : Symantec (SYMC) - What does it look like? -- Ignore unavailable to you. Want to Upgrade?

To: vampire who wrote (1716)	4/20/2000 12:12:00 PM
From: jbe	Respond to of 2069

Downgraded on valuation -- if you can believe that one! Thinks the price has gone too high! Ho, ho, ha, ha! I thought that analysts would begin reiterating their Strong Buys, now that SYMC had given them yet another upside surprise, and would raise their ridiculously low growth projections for next fiscal year and for the next five years. Instead, this! RESEARCH ALERT - Banc of America cuts Symantec NEW YORK, April 20 (Reuters) - Banc of America said it cut its investment rating on software maker Symantec Corp. (NASDAQ: SYMC) on Thursday to a buy from a strong buy based on valuation. The company reported third quarter earnings before goodwill amortization and one-time charges at 63 cents a share, compared with the Wall Street consensus estimate was 53 cents a share, as compiled by First Call/Thomson Financial. -- Analyst P.J. Dravis said revenues and earnings were in line with his expectations. -- Said he was "changing the rating as a result of stock appreciation." -- Shares fell 12 percent, or 8-1/4 to 58-13/16 in early Nasdaq trading. Prior to Thursday's trading, shares had risen more than 25 percent over the previous three sessions. Over a longer term, shares have declined steadily from a high of 81-5/8 on March 9.

To: vampire who wrote (1716)	4/20/2000 12:34:00 PM
From: jbe	Read Replies (2) \| Respond to of 2069

P.S. Time to downgrade that analyst! Or, better yet, fire him! If you will note, he says that the $.62 per share actual earnings for this fourth quarter were "in line with his expectations." Huh? In line with what? According to Zacks, the highest estimate, going into reporting week, was $.59 a share. So that analyst was off at least $.03 a share -- probably more. I guess there must be some Evil Forces out there who just want to keep Symantec's p/e down. Well, if so, they're getting their wish. ;-((