Symantec has no growth, in fact all said it is actually flat to down. That makes a PE of 12 way overvalued, especially when a good portion of that P/E is being supported by buybacks and cost cutting. Clearly you need to do some serious research on the fundamentals and history.
Also, exactly as predicted, the strengthening dollar is being cited by the company as one cause of the financial weakness in the earnings results. It is laughable how the comments from the management team are trying to explain the company performance relative to how things would have been if not for the currency headwinds - as if that makes the deterioration of the company's business any less relevant. The fact is, for the last few years the dollar has been a complete mirage due to the Fed policy. So Symantec's current situation is now the NORM not an exception. These latest result, and the lowered forward guidance for the year can be expected to persist as reflective of a more typical currency state.
Just as predicted, right back to the same playbook - cost cutting and share buyback, etc. to try and distract from the fundamental business deterioration. The shares continue to be well over priced, propped up purely on hype in advance the separation.
Investors, even the mentally challenged fund managers, are only going to be fooled for just so long. Shareholder return in in this company is a pure gamble at this point, it is no longer investing. As I've said repeatedly, even in this bloated market the company shares are well over priced, so any investors should be very clear on what strategy and outcome it is they are chasing in this particular case.
The FMV on the shares, even in this over bloated market, is at best in the $22 - $24 range - and that is taking an optimistic view of the separation into consideration.