Sy­man­tec in for the long haul, CEO says

San Antonio Express-News - - BUSINESS -

Sy­man­tec Corp.’s shares have slumped this year amid an in­ter­nal ac­count­ing in­ves­ti­ga­tion and wan­ing con­sumer in­ter­est in an­tivirus soft­ware for per­sonal com­put­ers. Ac­tivist in­vestor Star­board Value LP se­cured three board seats in a deal with the Moun­tain View, Cal­i­for­ni­abased com­pany in Septem­ber. Last week, the stock surged af­ter a re­port that pri­vate eq­uity firm Thoma Bravo had ap­proached the cy­ber­se­cu­rity com­pany about a po­ten­tial takeover.

Chief Ex­ec­u­tive Of­fi­cer Greg Clark sat down with Bloomberg Tele­vi­sion for an in­ter­view in San Fran­cisco on Thurs­day.

“We take a long view at Sy­man­tec. We are here for the long haul and we in­vest in our tech­nol­ogy and our em­ploy­ees and our cus­tomers and some­times we get some head­lines, ru­mors and spec­u­la­tion and our pol­icy is not to com­ment.”

Brink’s has reached a mul­ti­year agree­ment with Canopy Growth Corp. to pro­vide “se­cure lo­gis­tics and cash man­age­ment ser­vices” for the cannabis com­pany, in­clud­ing in­ter­na­tional ship­ments of weed, the com­pa­nies an­nounced Thurs­day.

This is likely to send Brink’s stock higher and maybe even qual­ify it for in­clu­sion in cannabis-fo­cused ex­change-traded funds like the ETFMG Al­ter­na­tive Har­vest ETF, ac­cord­ing to James Cle­ment, an­a­lyst at Buck­ing­ham Re­search Group, who gives Brink’s a buy rat­ing and $110 price tar­get.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.