Symantec CEO Named to NSTAC By President and 2 More Heavily Traded Stocks to Follow
Symantec Corporation (NASDAQ: SYMC): Current price $22.18
Symantec says that President Barack Obama has named its President and Chief Executive Steve Bennett to the National Security Telecommunications Advisory Committee. The appointment was made by means of a press release distributed by the White House. Bennett’s appointment will last for the standard three-year term for all members of the NSTAC, and he commented that ”it is an honor to be selected to serve on the President’s National Security Telecommunications Advisory Committee. The Committee has a long and distinguished record of providing recommendations to the President on telecommunications and information technology critical infrastructure security and protection issues, and I look forward to contributing to that work in the future.”
Morgan Stanley (NYSE:MS): Current price $25.57
Morgan Stanley Chief Executive James Gorman reported in a presentation on Wednesday that the firm’s new wealth management pre-tax margin target is 20 percent or higher, up from lower targets. The company had originally set a 20 percent target when it announced plans to acquire the Smith Barney brokerage from Citigroup, but has since reversed its course and set a goal in the mid-teens by mid-year 2013. The most recent goal named by the firm is a pre-tax margin of between 20 and 22 percent by 2015, and with higher rates the margin might surpass 23 percent.
Cisco Systems (NASDAQ:CSCO): Current price $23.99
Cisco predicts that the new product it introduced Wednesday will grow its cumulative revenue from core routers that direct Internet data traffic, by 25 percent, up to $10 billion, inside of the next two years. The top network equipment maker expects to take advantage of ever increasing demand for Internet services with its new CRS-X router, now marking its third in the CRS product series. Since the first CRS router made its entrance in 2004, Cisco has raked in $8 billion in revenue from the product range, says Stephen Liu, who is Cisco’s director of service provider marketing.
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