SYMC adds a niche

Article Excerpt

SYMANTEC CORP. $24.84 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (650-527-8000; www.symantec. com; Shares outstanding: 623.4 million; Market cap: $15.5 billion; Divd. yield: 1.2%) will pay $2.3 billion for LifeLock Inc. (New York symbol LOCK). That business sells identity-theft protection services to 4.4 million subscribers. Symantec sees LifeLock as a way to boost its lagging consumer security business. The shift from desktop computers to mobile devices has weakened sales of consumer anti-virus software. Individuals typically buy anti-virus protection for their desktops—but there is little demand for that service to protect smartphones and tablets. Symantec was a top pick for 2016. It’s still a buy. buy…