RealTime IT News

McAfee Rides Security Wave Higher

Shares of McAfee jumped 14% Friday after the security software maker blew past analysts' estimates.

McAfee's sales to consumers more than doubled in the first quarter, driving the company's earnings to 27 cents a share, 8 cents better than analysts expected. Overall revenues climbed 7.8% to $236 million, nearly $20 million better than forecast.

The company also raised full-year guidance on expectations that strong security spending will continue. The company expects full-year earnings of $1.15-$1.20 a share on sales of $955-$975 million.

McAfee's results followed a strong report from Symantec earlier in the week.

Stocks finished mixed Friday after a much stronger than expected April jobs report renewed inflation fears.

The Nasdaq rose 5 to 1967, the S&P 500 lost 1 to 1171, and the Dow added 5 to 10,345. Volume declined to 1.7 billion shares on the NYSE, and 1.54 billion on the Nasdaq. Decliners led 15-16 on the NYSE, while advancers held a 15-14 edge on the Nasdaq. Upside volume was 50% on the NYSE, and 64% on the Nasdaq. New highs-new lows were 78-35 on the NYSE, and 46-85 on the Nasdaq.

Monster jumped 7% on the strong jobs report.

Rumors of a merger between E*Trade and Ameritrade drove both stocks higher.

ClickCommerce and Jamdat Mobile soared on their results, and Blue Coat and Tier Software surged on their reports.

Sina , UTStarcom , Pomeroy and S1 fell on their results.