Forget nightclubs, bars, and the quad at college. The new way to mix and mingle is on the internet. But as millions flock to dating sites, they divulge more personal information from credit card numbers to photos. Is there a trade as companies compete to protect your virtual identity?
McAfee (MFE) Chief Executive David DeWalt joins the guys for this conversation.
How is business?
“Business is good,” says DeWalt. “We’ve had 9 consecutive quarters of growth and some strong double digit growth. 16% last quarter.”
He adds, “When you look at cyber crime and cyber security there’s a lot of threats happening. 1 in 4 people have their identities lost. Cyber crime is a $105 billion (business). Lots of positive influences for a security company.”
Where’s the demand for security?
“Desk top users… mobile users… more and more usage around the world comes from smart phones. That’s a big area for security,” he says.
Are you thinking about buying back stock?
“We’re definitely considering that,” says DeWalt. “As a company that has more than $1 billion in cash, one of the things you look for is (ways) to drive shareholder value. A stock buy back is a big part of that…”
He adds “We have about 246 million authorized through October and we’ll look to execute on that and maybe do more.”
Dylan asks the guys what they think of the stock?
They all agree it’s a buy.
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Trader disclosure: On June 12 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Macke Owns (ATVI), Najarian Owns (NITE), (GS), (STX), (AAPL); Bolling Owns (ICE), (T), (DIS) (NMX); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures