Symantec Holds Special Call Regarding Scope of Audit; Lowering Our FVE
After reassessing our view on Symantec Corporation, we are lowering our fair value estimate to $21 per share from $26 and maintaining the firm’s no-moat rating. Symantec held a call on Monday May 14 as a follow up to a dismal fourth-quarter earnings on Thursday May 10, in which the company announced the commencement of an audit by the internal board of directors due to a complaint raised by a former employee. In our note following Symantec’s fourth-quarter earnings, we had believed that shares w...Symantec is a provider of cyber security. The company provides cyber security products, services and solutions to organizations and individuals worldwide. The company's Enterprise Security portfolio includes a mix of products, services and solutions, delivered as part of an Integrated Cyber Defense platform. The company's platform unifies cloud and on-premises security to provide threat protection and information protection across endpoints, networks, email, and cloud applications. The company also provides services, support services, and cyber security services. The company's Cyber Safety solutions from Norton LifeLock help consumers protect their devices, online privacy, identities, and home networks.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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