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McAfee Rises as it Turns a Profit

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McAfee (MCAF) was up 14% in early afternoon, a day after it posted a second-quarter profit of 3 cents per share excluding items, ahead of the Thomson Financial/First Call estimate of a break-even period. The company had predicted it would turn a profit in the second quarter.

Merrill Lynch

upgraded the Internet security company's stock to long-term buy from market perform and estimated fiscal year 2002 earnings of 19 cents, noting that the forecast is conservative.

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