Intel, the prominent chip maker, made a surprising move yesterday when they acquired online security firm McAfee.
Read the breaking news: Intel acquires McAfee.
As soon as the news broke, Intel shares dropped immediately and continued to spiral throughout the day.
McAfee shares increased dramatically because of the acquisition. Primarily because McAfee was already in a downturn in their market,.
One other firm that is benefiting from the Intel acquisition is Symantec.
Symantec (NASDAQ:SYMC) is primary competitor to McAfee. When Intel acquired McAfee, it created a sense of instability with McAfee, primarily because no one understood (and continues to not understand fully) why Intel would acquire McAfee.
So while all of this commotion surrounds McAfee, Symantec is benefiting from their otherwise stable position in the online security market.