13 May Watchlist 👀
Today we are watching…
1. Symantec (#symtec)
US security software firm, Symantec, took a serious punishing on Friday after producing some less than enviable results, which sent its stock plummeting 12.54%. Not only that, but the company also announced that its CEO would be leaving with immediate effect to be replaced by its chairman on an interim basis. Analysts have been downgrading the stock last week with most price targets coming in around the $20 range. Its rough history of changes in its top level management has caused significant issues and may be a source of continued pain for the company in 2019, unless something can be done to halt the revolving door.
2. Legg Mason (#legmsn)
US asset manager, Legg Mason, is ready to post its earnings today and analysts are upbeat about its chances at beating estimates. Solid equity markets are likely to give the company a boost with the possibility of higher assets under management (AUM) and revenues for this first quarter. While a rise in AUM often increases servicing and distribution costs, management is confident, however, that this will not effect returns. The EPS estimate is $0.54 (-37.2%) on revenue of $699.24m (-10.9%).