Stocks in the News: Jacobs Engineering Group Inc (NYSE:JEC), Lifelock Inc (NYSE:LOCK)

On Friday, Shares of Jacobs Engineering Group Inc (NYSE:JEC), subtract -1.16% and shut at $58.15 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $57.91 and $58.75. The business’ commercial center capitalization is $6.98 Billion with the aggregate fabulous loads of 121.43 million. Jacobs Engineering Group Inc. (JEC) declared recently it received a contract from ExxonMobil Chemical Company to provide engineering, design and construction administration services as part of a new 650 kTa polyethylene facility to be located at ExxonMobil’s Beaumont polyethylene plant.

Under the terms of the contract, Jacobs is delivering front end engineering, detailed design and construction administration to support enabling works and installation of offsite facilities, counting rail, and interconnecting piping required for the new polyethylene train. The accomplished facility will produce pelletized polyethylene to be used in the manufacture of plastic products.

Shares of Lifelock Inc (NYSE:LOCK), added 0.14% and shut at $20.75 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $20.46 and $20.96. The association’s commercial center capitalization is $1.96 Billion with the general uncommon loads of 94.15 million. Symantec Corp. (SYMC) and LifeLock, Inc. (LOCK) recently declared that they have reached a definitive agreement for Symantec to acquire LifeLock for $24 per share or $2.3 billion in enterprise value. The deal, which was approved by the boards of directors of both companies, is expected to close in the first calendar quarter of 2017, subject to customary closing conditions counting LifeLock stockholder approval.

In the last year, one third of American citizens and over 650 million people globally were the victims of cybercrime. As A Result, more and more consumers are concerned about digital safety, an estimated $10 billion market growing in the high single digits. In the United States alone, the estimated total addressable market is 80 million people.

“As we all know, consumer cybercrime has reached crisis levels. LifeLock is a leading provider of identity and fraud protection services, with over 4.4 million highly-satisfied members and growing. With the combination of Norton and LifeLock, we will be able to deliver comprehensive cyber defense for consumers,” said Greg Clark, Symantec’s CEO. “This acquisition marks the transformation of the consumer security industry from malware protection to the broader category of Digital Safety for consumers.”

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