Topic: How To Invest

Stock Pickers Digest Hotline – Friday, July 5, 2019

Article Excerpt

SYMANTEC CORP., $25.00, symbol SYMC on Nasdaq, sells computer-security technology, including antivirus and email-filtering software, to businesses and consumers. The stock jumped almost 14% this week on reports that it is in advanced talks with a potential buyer for the company, Broadcom Inc. (symbol AVGO on Nasdaq). Symantec would be the second big software purchase for computer chip maker Broadcom. That’s after its $18 billion takeover last year of CA Technologies. That deal also came after Broadcom abandoned a hostile takeover of rival chipmaker Qualcomm Inc. U.S. President Donald Trump had blocked the transaction citing national security risks. Symantec has faced a number of challenges in the past year, including widening competition, the abrupt departure of its CEO and a financial investigation that ended with restated earnings. Activist investor Starboard Value LP also won three board seats on the company in September 2018. Regardless, the company remains one of the world’s biggest maker of cybersecurity software, providing products and services to more than 350,000…