Symantec launches new cloud service

Article Excerpt

SYMANTEC CORP. $19 (Nasdaq symbol SYMC; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 693.9 million; Market cap: $13.2 billion; Price-to-sales ratio: 1.9; No dividends paid; TSINetwork Rating: Average; www.symantec- .com) aims to take advantage of rising interest in cloud computing with a new service called Norton Zone, which lets users securely store and share photos, videos and documents on remote servers. Customers can also share their files with other users and social networks. Combining cloud storage with Symantec’s well-known Norton Anti-Virus software should help spur sales to consumers, who supply around 30% of its overall revenue. However, sales to businesses will likely remain weak until the economy improves. Symantec is still a hold. hold…