Key Developments: Adobe Systems Inc (ADBE.O)
29.82USD
1 Jun 2012
$-1.23 (-3.96%)
$31.05
$30.37
$30.62
$29.81
4,361,935
3,765,490
$34.78
$22.67
Latest Key Developments
Adobe Systems Incorporated And Other Technology Companies Fail To Dismiss Staff-Poaching Lawsuit-Reuters
Reuters reported that Apple Inc, Google Inc, Intel Corp and four other technology companies were ordered by a judge to face an antitrust lawsuit claiming they illegally conspired not to poach each other's employees. District Judge Lucy Koh in San Jose, California, rejected the companies' bid to dismiss claims brought under the federal Sherman antitrust law and California's own antitrust law, the Cartwright Act. In a decision on April, 18 2012 night, Koh said the existence of Do Not Cold Call agreements among various defendants supports the plausible inference that the agreements were negotiated, reached, and policed at the highest levels of the companies. The fact that all six identical bilateral agreements were reached in secrecy among seven defendants in a span of two years suggests that these agreements resulted from collusion, and not from coincidence, Koh added. Other defendants in the case included Adobe Systems Inc, Intuit Inc, Walt Disney Co's Pixar unit and Lucasfilm Ltd. Koh dismissed a claim brought under California's unfair competition law. Full Article
Adobe Systems Incorporated Announces Program To Repurchase $2.0 Billion Of Stock By End Of FY2015
Adobe Systems Incorporated announced its Board of Directors has approved a new stock repurchase program granting the company authority to repurchase up to $2.0 billion in common stock through the end of fiscal 2015. Under the new stock repurchase program, which is designed to return value to Adobe’s stockholders and minimize dilution from stock issuances, the company will repurchase shares in the open market and also enter into structured repurchase agreements with third parties. The new stock repurchase program approved by Adobe’s Board of Directors is substantially similar to the company’s previous program authorizing the repurchase of up to $1.6 billion in common stock through fiscal 2012, which authority has been exhausted. Full Article
Adobe Systems Partners With hybris On Commerce For Web Experience Management
Adobe Systems announced it is partnering with hybris, a provider of multichannel commerce and communication software, to provide digital marketers comprehensive commerce capabilities as part of Adobe's solution for powering online customer experiences. The integration of hybris technology with Adobe Web Experience Management (WEM), part of the Adobe Digital Marketing Suite, is designed to deliver marketers and retailers an enterprise-class offering to manage and optimize the online buying process. Full Article
Adobe Systems Issues Q2 2012 Guidance Below Analysts' Estimates; Raises FY 2012 Guidance
Adobe Systems announced that for the second quarter of 2012, it expects revenue to be in the range of $1.090-$1.140 billion and diluted earnings per share (EPS) to be in the range of $0.37-$0.43 on a GAAP basis, and $0.57-$0.61 on a non-GAAP basis. For fiscal 2012, it has increased its revenue growth target to a range of 6%- 8%, versus its prior target range of 4%-6%, diluted earnings per share (EPS) targeted in the range of $1.63-$1.73 on a GAAP basis, and $2.38-$2.48 on a non-GAAP basis. The Company reported revenue of $4.216 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.182 billion and EPS of $0.64 per share for the second quarter of 2012. Full Article
Pitney Bowes Selects Adobe Systems To Help Power Personalization And Customization Of Volly Secure Digital Delivery Service
Adobe Systems announced that it has selected Adobe Systems Incorporated as a technology partner for the Volly secure digital delivery service. Adobe Digital Marketing Suite technology will be a key component of the Volly system, both for the U.S. consumer launch by Pitney Bowes, and for partners who wish to customize Volly for their particular needs. The integrated enablement of the Volly secure digital delivery service will allow international posts and banks to readily create their own branded digital delivery solution. The integrated enablement will also allow for brand provisioning on the Volly digital delivery service, and consumers will be able to control how, when and where they receive their digital mail communications. Under the agreements, Pitney Bowes will be leveraging the Adobe Digital Marketing Suite, including Adobe CQ, to harness the power of personalization and customization for the Volly digital delivery service. Full Article
Adobe Systems Completes Acquisition of Efficient Frontier
Adobe Systems announced the completion of its acquisition of privately held Efficient Frontier, an optimizing multi-channel and auction-based digital advertising across search, display and social media company. Adobe solutions are central to how digital marketing and advertising is created, managed, executed, measured and optimized. With the acquisition now closed, Efficient Frontier president and chief executive officer, David Karnstedt, will continue to focus on advertising technologies for Adobe, as an instrumental part of the Digital Marketing Business. Full Article
Adobe Systems Issues Q1 2012 Outlook In Line With Analysts' Estimates; Issues FY 2012 Guidance Above Analysts' Estimates
Adobe Systems announced that for the first quarter of fiscal 2012, the Company is targeting revenue of $1.025 billion to $1.075 billion. On a diluted earnings per share basis, the Company is targeting a range of $0.37 to $0.43 on a GAAP basis, and $0.54 to $0.59 on a non-GAAP basis. For fiscal year 2012, the Company continues to target annual revenue growth of 4% to 6%. On a diluted earnings per share basis, the Company is targeting a range of $1.70 to $1.83 on a GAAP basis, and $2.37 to $2.47 on a non-GAAP basis. These targets do not include the impact of the Company's expected acquisition of Efficient Frontier, which the Company expects to close later in Q1 fiscal 2012. The Company reported revenue of $4.216 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.050 billion and EPS of $0.58 per share for the first quarter of 2012; revenue of $4.35 billion and EPS of $2.44 per share for the fiscal 2012 Full Article
Adobe Systems To Acquire Efficient Frontier
Adobe Systems announced that it has entered into a definitive agreement to acquire privately held Efficient Frontier, a company in multi-channel ad buying and optimization. The completion of the transaction, which is subject to customary government approvals and the satisfaction of other customary conditions, is expected to close in the first quarter of Adobe`s 2012 fiscal year. Terms of acquisition were not disclosed. Full Article
Adobe Systems Reaffirms Q4 2011 Guidance; Announces Elimination Of Approximately 750 Full-Time Positions; Comments On Q4 2011 Charge Guidance
Adobe Systems announced that for the fourth quarter of 2011, it expects revenue of $1.075 billion to $1.125 billion and diluted earnings per share (EPS) of between $0.30 to $0.38 on a GAAP basis, the Company had previously targeted EPS range of $0.41 to $0.50 on a GAAP basis and the Company continues to expect an EPS range of $0.57 to $0.64 on a non-GAAP basis. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.086 billion for the fourth quarter of 2011. The Company also announced that in order to better align resources around Digital Media and Digital Marketing, Adobe is restructuring its business. This will result in the elimination of approximately 750 full-time positions primarily in North America and Europe. The Company expects to record in the aggregate approximately $87 million to $94 million in pre-tax restructuring charges. Included in these charges are approximately $17 million to $19 million primarily related to the consolidation of leased facilities and approximately $70 million to $75 million related to employee severance arrangements. It expects to record approximately $73 million to $78 million of these charges in the fourth quarter of 2011. Full Article
Adobe Systems Acquires Auditude Inc.
Adobe Systems announced that it has acquired privately held Auditude Inc., a leader in video ad management and monetization technologies for premium publishers and media companies. Terms were not disclosed. Full Article
UPDATE 1-Pearson buys Certiport to expand testing business
LONDON, May 16 - British education and publishing group Pearson has bought Certiport, which provides testing and certification services for leading IT companies, for $140 million in cash from Spire Capital Partners, it said on Wednesday.
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