3 Stocks to Watch on Monday: Sturm, Ruger & Company (RGR), Symantec Corporation (SYMC) and Visa Inc (V)

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It was a somber mood over the weekend as Friday saw a substantial hit to the stock market amid a slump in oil prices, which declined by 3%. The S&P 500 fell 0.9% on the day, while the Dow Jones Industrial Average shed 0.7%.

3 Stocks to Watch on Monday: Sturm, Ruger & Company (RGR), Symantec Corporation (SYMC) and Visa Inc (V)As we head into Monday’s action, we highlight several companies making moves, including Sturm, Ruger & Company (NYSE:RGR), Symantec Corporation (NASDAQ:SYMC) and Visa Inc (NYSE:V).

Here’s the down low on these stocks:

Symantec Corporation (SYMC)

Symantec announced it will acquire another cybersecurity software provider, and so far, Wall Street seems to be on board.

The company will shell out $4.65 billion for Blue Coat Systems, which provides web security for global businesses and governments, boasting more than 70% of the Fortune Global 500 as clients.

Blue Coat CEO Greg Clark will take the same role at Symantec once the acquisition is complete.

The private equity firm that controls Blue Coat will invest $750 million into the combined company in the form of debt that can be converted into equity.

SYMC shares were up more than 3% in Monday’s premarket trading.

Sturm, Ruger & Company (RGR)

Shares of gunmaker Sturm, Ruger, as well as rival Smith & Wesson Holding Corp (NASDAQ:SWHC), were on the rise Monday following a shooting in Orlando in which 50 people were killed and 53 were injured, marking the worst terror attack in the U.S. since Sept. 11, 2001.

A Florida gunman possessing an AR-15 rifle and a handgun stormed a gay nightclub, Pulse, in Orlando, around 2 a.m. and started firing into the crowd.

Within hours of the shooting, President Barack Obama and other leaders made statements supporting stricter gun controls — a response that has been repeated several times after previous mass shootings in the U.S. These calls in turn have triggered heavy runs on stores for guns and ammunition, and have sent gun stocks like RGR and SWHC higher.

RGR was up 4% in Monday’s premarket trade, while SWHC was up 7%.

Visa Inc (V)

Visa stock is actually off on Monday morning despite a price upgrade by Oppenheimer analysts.

Oppenheimer raised V shares from a PT of $85 to $90, while reiterating its “outperform” rating. Oppenheimer is bullish on the European Commission’s approval of a deal to acquire Visa Europe, saying the combination “will prove highly strategic and accretive.”

However, Visa also got some negative news over the weekend, as Wal-Mart Stores, Inc.’s (NYSE:WMT) Walmart Canada division said it won’t accept Visa cards any more as part of an ongoing dispute over what Walmart believes to be “unacceptably high” fees. Walmart Canada currently pays out more than $78 million in credit card fees annually.

The move will ultimately affect more than 370 stores.

Visa stock is off more than 1% so far this morning.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/06/3-stocks-to-watch-on-monday-sturm-ruger-company-rgr-symantec-corporation-symc-and-visa-inc-v/.

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