3 Stocks to Watch on Monday: Symantec Corporation (SYMC), DryShips Inc. (DRYS) and Chipotle Mexican Grill, Inc. (CMG)

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The U.S. stock market is crawling into a shorter holiday week as the dollar surges to a six-month high. The post-election rally has slowed, and now investors are trying to suss out the true winners and losers in the future Donald Trump administration.

3 Stocks to Watch on Monday: Symantec Corporation (SYMC), DryShips Inc. (DRYS) and Chipotle Mexican Grill, Inc. (CMG)Heading into this week, Symantec Corporation (NASDAQ:SYMC), DryShips Inc. (NASDAQ:DRYS) and Chipotle Mexican Grill, Inc. (NYSE:CMG) are grabbing the spotlight.

Here’s what you need to know as Monday gets up and running:

Symantec Corporation (SYMC)

SYMC will send Lifelock Inc (NYSE:LOCK) out of public trading on a high note, agreeing to buy out the cybersecurity firm in a $2.4 billion deal.

LifeLock is designed to help offer identity-theft protection services for consumers and small businesses, such as credit monitoring and alerts. The announcement has LOCK shares up nearly 15% this morning, which would the stock near $23.75 — an all-time high.

Symantec is trying to shore up declining sales in its Norton Antivirus segment through M&A, buying LifeLock just months after gobbling up another cybersecurity firm, Blue Coat.

Symantec will pay for the deal using both cash and $750 million in new debt, CNBC reports.

SYMC shares are trading flat on the news so far.

DryShips Inc. (DRYS)

Dry bulk shipping stock DRYS is up big again Monday morning as the company continues to bolt higher and lower in the wake of Trump’s election.

DryShips shares surged as much as 1,900% in a few sessions of trading after Election Day, spurred by the idea that a Trump victory was good for business. Specifically, Trump is touting a $1 trillion infrastructure plan that, even if he gets just part of the money for it, will spur a need for commodities such as steel, copper and aluminum.

The kinds of things that DRYS ships.

The rally also was very much of the relief sort, as shares were off more than 99% in the five-year period prior to Election Day, killed by a sagging Baltic Dry Index. In fact, DryShips has executed three reverse splits in the past year to keep its shares eligible for trading on the Nasdaq.

Since peaking a few days ago, DRYS was hammered after making a deal to sell convertible preferred stock that can, of course, be converted into common shares. The deal has the potential to be very dilutive to DryShips shareholders.

Still, DRYS stock has bounced back to life since then, including nearly 20% gains in Monday morning’s trading on no news.

Chipotle Mexican Grill, Inc. (CMG)

CMG stock is sitting at breakeven this morning, which is the best one could ask for considering Chipotle appears to have shot itself in the foot yet again.

Chipotle is being sued by three plaintiffs for providing “false nutritional information” in response to an in-store poster that says the company’s new chorizo burritos have only 300 calories. The company’s online calculator puts the figure at closer to 1,200 calories.

While the lawsuit smacks of “come on!”, it’s yet another small, dogging issue as the company tries to recover from its 2015 E. coli outbreak and subsequent stock collapse.

CMG is off 15% for the year-to-date.


Article printed from InvestorPlace Media, https://investorplace.com/2016/11/3-stocks-to-watch-monday-symantec-corporation-symc-dryships-inc-drys-chipotle-mexican-grill-inc-cmg/.

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