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Fly News Breaks for November 22, 2016
LOCK, SYMC
Nov 22, 2016 | 08:50 EDT
After Symantec (SYMC) agreed to buy LifeLock (LOCK), Stifel analyst Gur Tapaz says that LifeLock has "a relatively stable consumer offering" that will boost the growth of Symantec's consumer business. However, the analyst adds that the deal will lower Symantec's margins, while the cost of the deal was "relatively high." The analyst questions why Symantec didn't raise its fiscal 2018 EPS guidance despite the fact that it expects $30M of cost synergies form the deal. Talpaz keeps a Hold rating on the stock.
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