Symantec Surges on Microsoft Chatter

Story updated with Symantec response.

MOUNTAIN VIEW, Calif. (TheStreet) -- Symantec's(SYMC) shares surged on Wednesday following rumors that the security software maker could be an acquisition target for Microsoft(MSFT).

The software maker's stock closed up 61 cents, or 4.37%, at $14.58.

Symantec, which missed Wall Street's revenue estimate in its recent first-quarter results, is one of a number of security firms in the M&A spotlight following Intel's(INTC) shocking $7.7 billion acquisition of McAfee(MFE). Companies such as IBM(IBM), Hewlett-Packard(HPQ) and Dell(DELL) have all been touted as potential buyers of security technology at a time when businesses are under intense pressure to lock down data.

A spokeswoman for Symantec said that the company does not comment on industry rumors or speculation. Microsoft has not yet responded to TheStreet's request for comment on this story.

--Written by James Rogers in New York.

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