Symantec Brings Back Norton Utilities

February 10, 2009

Norton Utilities, the once popular package of tune-up and troubleshooting programs for PCs, is back.

The product became part of Norton SystemWorks in 2003

The product became part of Norton SystemWorks in 2003

Conceived by Peter Norton in the early 1980s, Norton Utilities ran up big sales during the first two decades of the personal computer.

In 2003, after being sold to Symantec, the product was taken off the market and folded into Norton SystemWorks.

Last week, Symantec did an about-face and reintroduced the package, saying people are placing more performance demands on their PCs and installing more applications. Hence the need for tools to improve that performance.

Norton Utilities will sell for $49.99 on the Web and at retail. It includes a disk cleaner, disk defragmenter, registry cleaner, registry defragmenter, a dashboard to monitor performance and benchmarking tools.
It runs on Windows.


Symantec Plans Online Backup For Netbooks, Appears To Write Down Veritas Merger

January 29, 2009

Symantec reported a solid third quarter on Wednesday but fell to a loss on a huge charge that appeared related to its 2005 acquisition of Veritas.

A moment of financial truth?

A moment of financial truth?

The security software company said it wrote $7 billion off its balance sheet as an impairment to goodwill. It declined to say on a conference call whether the impairment was due to a particular acquisition and said only that it related to enterprise products – which was Veritas’ focus.

Symantec purchased Veritas for $13 billion.

For the quarter, the company said revenue fell 0.9 percent despite the tough economy and that, without the charge, its profits would have increased 20 percent. Revenue was ahead of company expectations.

The Silicon Valley software maker also released that it plans an online backup product for fast-growing netbooks. The stand-alone Norton backup product will enable netbook users to store information, such as photos and music, online.

Already Symantec has been working to get a free trial of its existing software on netbooks from companies such as Asus, said Chief Operating Officer Enrique Salem.

During the quarter, Symantec kept a tight lid on costs, shedding 950 jobs even while adding 811 employees from acquisitions.


Hackers Are Phishing For Twitter Users: Do Not Click On Links, Install An Internet Security Software

January 5, 2009
Hackers are now phishing for identities on Twitter

Hackers are now phishing for identities on Twitter

Over the weekend, several phishing attacks were reported using Twitter as their conduit. And this morning, Twitter itself admitted that several accounts, including Barak Obama’s, have been hacked into.

“The Twitter’s phishing attack have changed several times. And now there is one that ask you to click a link embedded in the Twitter message which then takes you to the cybercriminals web sites that are in turn infected with a keystroke logger or other malwares that automatically install in your computer if you’re not protected,” explains Merritt, Symantec’s Internet Safety Advocate.

Although Symantec’s Internet security software will not prevent you from entering a newly created infected web site, it will protect you from downloading embedded malicious code on your computer says Merritt.

Don’t click on the links in your Twitter feed

For Merritt, these new phishing attacks targeting Twitter are just part of this “social engineering” wave where “criminals” are using your trusted friends – a person you follow on Twitter or a Facebook friend – or celebrities to harvest the database of people following you or that you follow which then cause havoc or affect your reputation.

My advice and I know it’s a tough one for avid Twitter users: don’t click on any link coming from your Twitter feed, even if it comes from someone that you know. Or at least, send that person a quick twit back to make sure it’s a legitimate link.
“With Twitter, people are using trunking URL services like Tiny URL. So for the people in the past that have said they could just look at the URL and know if it’s safe or not, now with Twitter there’s no way to do that,” warns Merrit.


Employees Crown Netflix As Best Tech Workplace

December 30, 2008
Career site Glassdoor turned to employees to choose their top best places to work

Career site Glassdoor turned to employees to choose their top best places to work

Netflix, Adobe, Google, SAP, NetApp and Intuit have the best workplace in the tech sector, according to a survey conducted by career site Glassdoor.com for its first annual Employees’ Choice Awards for Best Places to Work.

Out of the 15 tech companies that made Glassdoor’s top 50 list, 9 are from Silicon Valley and 3 – Citrix, EMC and SAP – have large corporate offices in the region.

WholeFoods has a better work environment than Google!

The Top 50 winners – General Mills topped the list – were selected from more than 11,000 companies reviewed by the nearly 75,000 employees who completed a 20-question survey on Glassdoor.com in 2008.

To be eligible for the list, a company must have had at least all of the following as of December 15, 2008:

  1. 25 reviews from United States-based employees,
  2. “satisfied” ratings overall and across all categories, and
  3. a CEO with at least a 50% approval rating.

Interestingly, tech giants like AMD, IBM, Intel, Microsoft, Oracle (Salesforce.com is #47), Symantec didn’t make the list.


Microsoft To Give Away Free Security Product; Forcing Kaspersky, McAfee, Symantec, TrendMicro, Zone Alarm To Follow

November 20, 2008
Microsoft ends PC security solution. Instead will give it free!

Microsoft ends PC security solution. Instead will give it free!

Earlier this week, Microsoft said that it will “discontinue” its PC security solution dubbed “Windows Live OneCare” on June 30, 2009. Instead, it will pretty much give it away!

This could be a huge blow for small and large makers of security products like Kaspersky, McAfee, Symantec, TrendMicro or Zone Alarm IF (and that’s a big capital IF) Microsoft’s anti-malware software is actually any good. But ultimately it will force those companies to have a free offering as well or to risk being “Netscaped” and be left out to die slowly.

A basic malware protection solution now retails for about $50 or less, and sometimes are free with mail-in rebate or after special promotions like the recent free download offer from Zone Alarm. But once the user is “hooked” into one security product, it will pay thereafter the subscription fee to receive the security updates. Sounds like the Gillette razor model to me :-)


Symantec, Yahoo CEOs To Step Down; Yang To Hang On As Chief Yahoo!

November 17, 2008
Yahoo is now looking for a replacement for CEO and founder Jerry Yang

Yahoo is now looking for a replacement for CEO and founder Jerry Yang

Earlier today, the chief executives of Silicon Valley companies Symantec and Yahoo stepped down. However these decisions came at a total opposite time for both tech companies.

After 10 years at the helm of Symantec, Chief Executive John Thompson will retire in April. Under his leadership, the Cupertino, Calif., company annual revenues decupled, from $593 million in 1999 to $5.87 billion in 2008, after more than 25 acquisitions, including storage software maker Veritas Software for $13.5 billion in December 2004.

Although growing, the security software maker has over $2 billion in debt on its balance sheet.

On the other hand, Yahoo CEO’s decision to quit did not come as a surprise. On the contrary, pretty much everybody in the financial community called for Yang’s resignation, after a tumultuous and disastrous year-and-a-half reign where he was notably blamed for rejecting a fairly generous acquisition offer from Microsoft.

However, unlike Thompson, the eternal optimist Yang is not leaving Yahoo but will “return” to his former role as Chief Yahoo – the same title than co-founder David Filo – after the search for a new CEO is completed. Yahoo has hired Heidrick & Struggles, the well-known executive search firm, to evaluate candidates, both internally and externally.


Silicon Valley’s 10 Fastest Growing Billion Dollar Companies From Deloitte’s Fast 50

November 4, 2008

 

VMware was the fastest growing Silicon Valley company with revenues over a billion dollars

VMware was the fastest growing Silicon Valley company with revenues over a billion dollars

In its annual Silicon Valley Fast 50 report, Deloitte had a special category: the Billion Dollar Club!

It listed the fastest growing Silicon Valley companies – measured by five years of revenue growth – and with $1 billion revenues or more. It was surprising to see Yahoo and SanDisk making the top 10, knowing their recent financial turmoils. They’ll probably not make it next year.

Also interesting to see 2 biotech companies, Gilead and Genentech, among this quasi-exclusive group of high-tech companies.

Here are the top 10 companies, their location and their 5-year growth:

VMware, Palo Alo, 1,687 percent
Google, Mountain View, 1,032 percent
Gilead Sciences, Foster City, 387 percent
Netflix, Los Gatos, 343 percent
Yahoo, Sunnyvale, 329 percent
Juniper Networks, Sunnyvale, 304 percent
Apple, Cupertino, 287 percent
Symantec, Cupertino, 270 percent
SanDisk, Milpitas, 261 percent
Genentech, South San Francisco, 255 percent


Symantec Cuts Jobs, Outlook; Amid Tripling Profits in Quarter

October 29, 2008
John Thompson, CEO, Symantec

John Thompson, CEO, Symantec

Inspite of a 6% revenue growth and nearly tripling its profits over the same period last year, Symantec is getting ready for an IT spending nuclear winter!

During a session with Wall Street analysts, Symantec CEO, John Thompson said revenues for the current quarter, ending January 2, 2009, will fall between $1.45 billion and $1.5 billion. That’s well below the $1.61 billion the Street expected and also down from last quarter.

In addition, the Cupertino, Calif.-based security company said it will reduce its salesforce. Symantec CFO is using an interesting metric to come out with the headcount cuts which will be equivalent to 4.5% of the company’s dollars volume. Cryptic?

Well that would represent about $67.5 million this quarter. But it’s still hard find out how many jobs will be lost, as it all depends on the “cost” of each sacked employees.


Slowing At Symantec Should Be No Surprise; Consumer Spending Down Sharply At Retail

October 29, 2008
Symantec saw retail sales plunge

Symantec saw retail sales plunge

Consumer spending on software and computers appears to be slowing in the face of broad economic slowing.

At Symantec, retail purchases of products such as the company’s Norton Internet Security suite plunged 20 percent in the recent second quarter ended Oct. 3.

Overall, sales in the consumer division were up just 2 percent in the period, the company said on a conference call discussing quarterly results. The consumer retail channel has been in “agony for the past 4 to 6 quarters” said Symantec, ending with a precipitous drop last quarter. Buying from mid-market companies was sluggish as well.

With the economic softness expected to continue, Symantec said it anticipates more difficult times ahead. The company pulled in its outlook for the year-end quarter and vowed it would cut costs.

In an economic downturn, companies “rationalize” the number of software products they use and the number of vendors they buy from, said CEO John Thompson. They look closely at ROI, or return on investment, before they write a check, something Thompson argued should favor his company.

“We’re well positioned to keep our business growing,” he said, trying to sound optimistic.


Wall Street Analysts Turn Cautious On Tech Companies

October 3, 2008
Nasdaq Chart Shows Tech Stock Slide
Nasdaq Chart Shows Tech Stock Slide

Not that we in the technology industry haven’t turned cautious on Wall Street. (But that is another story)

A wave of cuts to the growth expectations of technology companies, their earnings outlooks, stock ratings and overall market assessments appears to be building among Wall Street analysts as they take a second look at high-tech’s ability to dodge the downturn and credit crisis. This comes even as the House of Representatives passed on Friday a Wall Street bailout package designed to flood the street with hundreds of billions of taxpayer dollars.

Several major firms took aim at Google, for instance, pointing to a slowing online ad market, the economic weakness now spreading to Europe, bank failures, the credit crunch and the stronger U.S. dollar, Among them were Morgan Stanley, American Technology Research, Jefferies and Collins Stewart.

White-shoe firm Goldman Sachs cut its estimates on software maker SAP.

Meanwhile at Thomas Weisel, analyst Time Klasell downgraded the infrastructure software sector and cut earnings estimates on companies such as Citrix, Microsoft, McAfee, Red Hat, Symantec and VMware.

Pacific Crest even said India-based outsourcers including Infosys and Wipro.

Closer to home, Barclays trimmed its price target for Apple shares to $135 from $180, and UBS shifted its rating lower in Adobe, Salesforce.com, Intuit and Symantec.

The technology heavy Nasdaq market already has had a rough couple weeks. It fell another 29 points today.


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