A pro at moving in the wrong direction. I'm rich because I do the exact opposite of what he predicts. Thanks Surfer!
Even if you actually have a stake in seeing SYMC's share price decline, I cannot imagine how cluttering this board will somehow help you realize that goal.
But you don't, do you? You surely don't - have the financial capacity or conviction to actually back your trashtalk with a short position or with puts.
A split enables the company to sell one of the units to interested parties -assuming that one of the units is of interest to someone but the other is not.
Is this the autopsy report after the fact!!
The easy money was from $18 up to 22.
We are in a correction, everything is getting blasted, look at NVDA, it down too. SP 500 is down 5%!
Are you juiced up! (or for you hippies, hopped up on meth)
Hoping for that incredible pop in the stock due to split. LOL
Looks like the market is selling on the news, analyst downgrades and a poor call with little details on how they are going to accomplish this split after telling analysts only a few months ago that it was too complicated and that the business was better together? This announcement basically said we have no clue what we are doing so lets divorce the failed Veritas acquisition that Brown was a part of! We will spend millions figuring out how to split the assets in the divorce. This will take months and possibly years! Listen to the call where an analyst asks Brown what he learned from the debacle he oversaw/created at Quantum so he doesn't make the same mistakes at SYMC- his answer "nothing"- He learned nothing. LMAO this business was already overvalued. Management (Brown and the Quantum/Veritas cronies) are the only ones making millions off this transaction. You so called shareholders/supporters/stock pumpers should be ticked off! Even if Brown fails and gets canned he will still make millions at the expense of shareholders and employees. The poor employees are scared as there will inevitably be further significant layoffs coming down the road. Brown is going to run the security business and knows nothing about it. Where is the board governance? How they could let an iconic brand like this die? Its sheer incompetence and shows a gross lack of understanding of what is really happening. Wake up people! Look to Cisco, Intel/McAfee, Checkpoint, PANW, FEYE to steal whatever talent is still there. Recruiters will have a feild day! This is dead money for quite some time. Smart money knows it.
your say was absolutely correct, IMO.
" .....I would wager that Steve Bennett was ousted because he wanted to come forward with the truth about the state of the company, that things were deteriorating further and he wanted to stick by his strategy & plan in the long term interests of the company, customers and shareholders. However, the Board did not like this idea out of fear of the activists and backlash that may have ensued if more bad news or failure leaked..... "
Sentiment: Strong Sell
Looks like analysts are figuring it out after a less than inspiring discussion last night by Brown. Nothing on how they will dominate the market but a lot on how they have 100's of people, bankers,lawyers and accountants working on figuring out how to break it up. Again management restricted "free" stock continues to vest and they draw fat cat salaries and the common shareholder foots the bill. LOL
from BMO Analyst
Six Degrees of Separation
Impact & Analysis
"While we expected a smaller divestiture, the company decided to split in two after all. It’s been nearly a decade since Symantec bought Veritas for $13.5 billion, which is more than twice what we believe to be the value of the storage business today. We agree that these two businesses will be better off once the divorce is completed and that there will be some benefits of having focused R&D and sales efforts more closely aligned with the respectively distinct technology markets. At the same time, we also believe that both businesses, regardless of being together or separate, still face significant challenges. Products and technology have not kept up with the pace of technology development, and the transition to the cloud and competition against smaller, more focused companies remain a big challenge. This leaves us unconvinced that growth reacceleration is around the corner. Management has noted that the required resources and processes are in place to diligently manage this separation over the next 12 months. While we’re inclined to be cautiously optimistic, this looks to be a big, complicated process that introduces execution risk in the interim."
Valuation & Recommendation
Our sum-of-the-parts analysis implies a ~$24 stock, in line with current levels."
This split benefits the insiders not the shareholders. Take a cold cup of coffee and spit it in two and you now have two cold cups of coffee. Still tastes bitter. You split businesses when one or both would have higher growth prospects and therefor higher multiples- there is no substantial growth for either business- A/V is dying as is commodity storage. The ONLY beneficiaries are Brown and his cronies as he gets restricted stock FOR FREE in both companies. What a payday! And the lawyers and bankers. They are laughing all the way to the bank. Bet this was known before the Brown announcement and they held back so that they could work out his “personal” compensation issues. The average employee and shareholder get screwed over at the expense of Brown and his Quantum/Veritas cronies. They destroyed SYMC and through their stupidity- SYMC is a leader in old line dying businesses and all the technical visionaries have left for other opportunities. Now they have two dying/commodity businesses- that’s an exciting next gen investment! I will take PANW performance over SYMC any day. You guys can gloat all you want but these guys (the two CEO’s) all worked together in the past- nepotism at its best. They were failures then and will be failures going forward. Has anyone had a productive conversation with these nimwits. Neither one are industry leaders or visionaries. They are quite simply administrators, paper pushers and spreadsheet jockeys completely dependent on the hard working field operations. They have no idea how to motivate and excite the troops. Every time they speak it’s like kissing your sister. Each time they think they are doing a great job motivating us and we are just sitting there going why are they paying these guys? More talent will leave, more layoffs coming and more work will be shifted to India. The Common worker and shareholder have to do all the work and get little of the compensation. What a shame- will be a Harvard business case on exactly wha
No, I'm saying the 2 separate companies are far stronger than the resulting Veritas/SYMC was. Thanks for playing craplister.