Weak Outlook Sinks Symantec

Security software maker Symantec (SYMC Quote) was dropping Tuesday after the company issued soft estimates for its fiscal third and fourth quarters.

For the third quarter ended Dec. 29, Symantec expects revenue of $1.29 billion to $1.31 billion, down from its prior guidance of $1.315 billion to $1.345 billion. The company's adjusted revenue will probably be $1.30 billion to $1.32 billion, also short of its previous outlook.

The third-quarter earnings of 10 cents to 11 cents a share now estimated will miss Symantec's earlier prediction of 14 cents to 15 cents. Profits excluding items should be 24 cents to 25 cents, below the 29 cents to 30 cents the company had previously forecast. ...