Oppenheimer's Weekly Software Roundup (SYMC, NSTC, CHKP)

For the week, Symantec SYMC led risers with a 5% gain, and Ness Technologies NSTC declined the most with a 10% drop. Oppenheimer on Symantec: "We view the 6/10/10 announcement of HP's contract renewal with SYMC as a positive...We reiterate our Outperform rating on SYMC shares and believe the recent selloff creates a compelling opportunity to buy SYMC shares at an attractive <10x FY11E EPS. We believe downside is very limited." Symantec is currently trading at $14.72. On Check Point Software Technologies CHKP: "We believe that the shares remain attractively valued at current levels, trading at 11.8x 2011E EPS and further supported by estimated growth of 12.5% in 2010 and 10% in 2011." CHKP is currently trading at $31.08.