Today we are watching…
1. Symantec Corporation (#symtec)
IT solutions firm, Symantec, bounced 5.44% yesterday after a solid ratings and price target upgrade from Goldman Sachs from $23 to $28. The upgrade was based on the view that the company is poised for sustained growth in current billings and is roughly 25% undervalued relative to its peers. Prices briefly approached the $25 mark yesterday before receding slightly, but may continue to rise towards the end of the week. Well worth watching.
2. Wynn Resorts (#wynn)
Wynn Resorts has recently made a big play for one of Australia’s largest gaming and entertainment groups, Crown Resorts. Wynn is looking to drop almost $7bn on the Melbourne-based company and investors are loving it. Crown Resorts spiked 21% this morning after the news broke, but as with most mergers, we may see an inverse effect happen to Wynn’s stock price as the effects of laying out $7bn in cash hits the company’s balance sheet. Be on the lookout for a potential drop for Wynn.