Symantec Surges on Microsoft Chatter

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

MOUNTAIN VIEW, Calif. (

TheStreet

) --

Symantec's

(SYMC) - Get Report

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

Microsoft

(MSFT) - Get 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

following

Intel's

(INTC) - Get Report

shocking $7.7 billion acquisition of

McAfee

(MFE)

. Companies such as

IBM

(IBM) - Get Report

,

Hewlett-Packard

(HPQ) - Get Report

and

Dell

(DELL) - Get 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.

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