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Symantec Surges on Microsoft Chatter

Symantec shares surged on Wednesday following rumors that the security software maker could be an acquisition target for Microsoft.

Story updated with Symantec response.

MOUNTAIN VIEW, Calif. (

TheStreet

) --

Symantec's

(SYMC) - Get Symantec Corporation Report

shares surged on Wednesday following rumors that the security software maker could be an acquisition target for

Microsoft

(MSFT) - Get Microsoft Corporation (MSFT) Report

.

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

TheStreet Recommends

following

Intel's

(INTC) - Get Intel Corporation (INTC) Report

shocking $7.7 billion acquisition of

McAfee

(MFE)

. Companies such as

IBM

(IBM) - Get International Business Machines (IBM) Report

,

Hewlett-Packard

(HPQ) - Get HP Inc. (HPQ) Report

and

Dell

(DELL) - Get Dell Technologies Inc Class C Report

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.

>To follow the writer on Twitter, go to

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.

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