Diamonds and Dogs
The FANG stocks (Facebook, Amazon, Apple, Netflix and Google) look great today, but shares of identity theft and fraud protection services provider, LifeLock (LOCK) is the diamond up 15% after agreeing to be acquired by Symantec for $2.3 billion. The deal will create the world's largest digital safety platform, according to Symantec. Looks like the holidays came early to shareholders of LifeLock.
Chicken wings on sale. Chicken company, Tyson Foods (TSN) is dropping 15% giving up most of its gains for the year after missing earnings estimates by 20 cents while also missing revenue numbers and lowering guiding for 2017 below consensus. Revenue fell 12.8% year over year to $9.16 billion as pricing for chickens fell 10%, beef fell 7%, pork down 7% and prepared foods down 5%. So far, Tyson bought back 28 million shares of our stock or $1.7 billion. Maybe they should've waited until this earnings report. The good news is the company is increasing their quarterly dividend by 50%.