Key Developments: Adobe Systems Inc (ADBE.O)
42.77USD
23 May 2013
$-0.40 (-0.93%)
$43.17
$42.66
$43.14
$42.57
3,382,686
3,704,088
$47.17
$29.52
Latest Key Developments (Source: Significant Developments)
Adobe Systems Inc And Sapient Corp Expand Global Partnership
Adobe Systems Inc and SapientNitro, part of Sapient Corp announced an expansion of their global partnership, including integration of the Sapient EngagedNowSM platform with Adobe Marketing Cloud. This integrated offering provides a solution for creating, delivering and optimizing consumer experiences across Web, social, mobile, and digital displays. Full Article
Apple Inc, Google Inc Won't Face Poaching Class Action Suit, Yet And Defendants Includes Adobe Systems Inc, Intel Corp, Intuit Inc, And Walt Disney Co's Lucasfilm Ltd-Reuters
Reuters reported that a U.S. judge ruled that a lawsuit alleging a broad conspiracy among Silicon Valley companies not to poach each other's employees cannot proceed as a class action for now, but left the door open for workers to eventually sue as a group. In a decision released on Friday, U.S. District Judge Lucy Koh in San Jose, California said the five software engineers suing Apple Inc, Google Inc and five other companies have yet to show enough in common among the proposed class members to allow them to sue together. But in deciding to give the plaintiffs another chance, the federal judge said she was 'keenly aware' new evidence had recently become available that could support class certification. She also said the nature of the 'alleged overarching conspiracy' and desire to litigate it all at once weighed 'heavily' in favor of certifying a class, which the plaintiffs' lawyers have said could include tens of thousands of people. If the plaintiffs win class certification, then they would have more leverage to extract large financial settlements than if they were to sue individually. Other defendants in the case include Adobe Systems Inc, Intel Corp, Intuit Inc, and Walt Disney Co's Lucasfilm Ltd and Pixar units. The defendants were accused of violating the Sherman Act and Clayton Act antitrust laws by conspiring to eliminate competition for labor, depriving workers of job mobility and hundreds of millions of dollars of compensation. Full Article
Australia Lawmakers Summon Tech Companies Apple Inc, Microsoft Corp And Adobe Systems Inc-DJ
Dow Jones reported that Australian lawmakers have summoned global technology companies Apple Inc, Microsoft Corp and Adobe Systems Inc to appear before a parliamentary committee investigating the cost of information technology software in the country. The move to force executives to attend the hearing comes as the Australian dollar remains above parity against the greenback. This should make imports cheaper, but consumer advocacy groups and lawmakers say it isn't reflected in prices paid for software products in Australia. The Committee is looking at the impacts of prices charged to Australian consumers for IT products, Australian consumers often pay much higher prices for hardware and software than people in other countries. The IT executives will meet with the committee on March 22 in the Australian capital, Canberra. The inquiry into software prices began in the middle of 2012, but so far no executives from the biggest companies have appeared. International companies operating in Australia routinely blame high production costs and salaries for eroding margins and forcing prices higher. Full Article
Adobe Systems Inc Acquires Behance
Adobe Systems Inc announced that it has acquired privately held Behance, a online social media platform that enables creatives to showcase and share their work. Financial terms were not disclosed. Full Article
Adobe Systems Inc Issues Q1 2013 Guidance Below Analysts' Estimates; Issues FY 2013 EPS Guidance Below Analysts' Estimates-Conference Call
Adobe Systems Inc announced that for the first quarter of fiscal 2013, it is targeting a revenue range of $950 million to $1 billion, GAAP earnings per share is expected to be in the range of $0.08 to $0.14 per share, and non-GAAP earnings-per-share range of $0.26 to $0.32. For fiscal 2013, it expect earnings per share to be approximately $0.62 on a GAAP basis, and $1.40 on a non-GAAP basis. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $1.07 billion and EPS of $0.56 for the first quarter of 2013; EPS of $1.50 for fiscal 2013. Full Article
Adobe Systems Inc Issues Q4 2012 Guidance Below Analysts' Estimates
Adobe Systems Inc announced that for the fourth quarter of 2012, it expects revenue of $1.075 billion to $1.125 billion, on a diluted earnings per share (EPS) basis, the Company is targeting a range of $0.34 to $0.39 on a GAAP basis, and $0.53 to $0.58 on a non-GAAP basis. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.206 billion and EPS of $0.67 for the fourth quarter of 2012. Full Article
Adobe Systems Incorporated Issues Q3 2012 EPS Outlook; Revenue Below Analysts' Estimates; Raises FY 2012 EPS Outlook; Lowers High End Of Prior FY 2012 Revenue Outlook To A Range In Line With Estimates
Adobe Systems Incorporated announced that for third quarter of 2012, it expects revenue of $1.075-$1.125 billion, diluted earnings per share basis to a range of $0.38-$0.43 on a GAAP basis, and $0.56-$0.61 on a non-GAAP basis. For fiscal 2012, the Company narrowed its annual revenue growth target to a range of 6% to 7%, versus its prior target range of 6% to 8%. Adobe also adjusted its annual GAAP diluted earnings per share target range to $1.69-$1.76 from its prior targeted range of $1.63-$1.73; and its non-GAAP diluted earnings per share target range to $2.40-$2.46 from its prior targeted range of $2.38-$2.48. The Company reported revenue of $4.216 billion in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.132 billion, EPS of $0.61 for second quarter of 2012, revenue of 4.494 billion and EPS of $2.44 for fiscal 2012. Full Article
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 moves flagship software upgrades to cloud
- Adobe Systems Inc said upgrades for its flagship software package, which includes Photoshop, Illustrator and Flash, would be available only through online subscriptions, effective immediately.
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