Trending Stocks: Facebook, Netflix, Lifelock, and More

Lifelock Inc (NYSE:LOCK) has surged by 15% after Symantec Corporation (NASDAQ:SYMC) agreed to buy the company for $24 per share, which represents an enterprise value of $2.3 billion. The deal has been approved by the boards of both companies and is expected to close in the first quarter of 2017. Symantec expects to finance the purchase with cash on its balance sheet and roughly $750 million in new debt. Symantec’s board has also raised the company’s buyback authorization to $1.3 billion, up from the previous $800 million. Although the buyout of Lifelock isn’t expected to have a material impact on Symantec’s fiscal 2017 results, the management does expect the purchase to be accretive to non-GAAP earnings per share in fiscal 2019. Among the funds we track, 38 funds held shares of Symantec Corporation (NASDAQ:SYMC) and 22 funds were long Lifelock Inc (NYSE:LOCK) at the end of June.

Headwaters Inc (NYSE:HW) shares are 17% in the green after the Australian firm Boral agreed to purchase the company for $24.25 per share in cash, or roughly $1.86 billion. The deal has been unanimously approved by the boards of both companies and is expected to be closed in mid-2017. Overall, 23 funds had a bullish position in Headwaters Inc (NYSE:HW) at the end of June, down by one fund from the previous quarter.

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