Symantec stock spikes after report of private-equity interest
Symantec Corp. shares jumped more than 17% at times in Tuesday trading, amid a report that the security-software company has been approached by a private equity firm. Reuters reported that Thoma Bravo has expressed interest in acquiring the company known for its Norton antivirus program, which refocused more on corporate security after acquiring Blue Coat Systems from a different private-equity firm. Symantec stock has already enjoyed gains in the past week, after its quarterly earnings report sent shares higher on hopes for the enterprise-security business. Symantec shares rose as high as $23.57 in Tuesday trading after closing Monday at $20.02, and were last trading at gains of about 13%. The stock has been affected by an investigation sparked by an internal whistleblower, and was down more than 19% so far this year as the S&P 500 index has gained 2.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.