Shares skyrocketed after McAfee posted profit growth of 57% with revenue growth of 13% for the second quarter.
Ingram Micro, the company that maintained records for McAfee, received a Wells Notice from regulators. McAfee contends that IM is responsible for McAfee's securities violations. Shifting the blame to IM causes shares to rise by boosting investor confidence.
McAfee's second quarter revenue is in line with analyst estimates, keeping investors confident and causing shares to rise.