Symantec Shines During Bad Overall Market Performance

Mixed employment data in April has investors nervous and the markets have been in decline all year. Even with the bad market performance a number of stocks have risen including Symantec, USG, Lumentum, Tyson Foods and Ubiquiti.

A positive earnings report from Symantec Inc. allowed the stock to move higher last week. Earnings came in at 26 cents a share which was 2 cents better than expected. Revenue was also $3 million better than the $905.6 million analyst thought would be reported. The company is also issuing a special dividend in addition to purchasing shares back from the public. The stock should be able to maintain current gains with all the good news reported.

USG Corporation grew profit over the last year from a loss to $812 million. That was a profit of 42 cents a share compared to the expectation of 30 cents a share. Hedge funds are holding the company shares in large amounts, 32% of the outstanding total. Warren Buffet’s Berkshire Hathaway holds 39 million shares too. There is a floor in the stock with all this hedge fund ownership.

USG BUILDS: Ted Stevens Sports Services Center