Why Symantec Stock Popped 11.5% Today
Shares of security software maker Symantec (NASDAQ: SYMC) are on a tear. They're up 11.5% as of 12:20 p.m. EDT on firming rumors that a (partial) purchase of the company by Broadcom (NASDAQ: AVGO) is in the works.
According to a Wall Street Journal report published last night after close of trading, Broadcom is in talks to acquire Symantec's corporate cybersecurity division -- leaving Symantec's consumer-facing antivirus business untouched.
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