Market News

Dell (DELL)

Dell Thursday night reported net income of $337 million, or 17 cents a share, in the quarter that ended on Oct. 30, down from $727 million, or 37 cents a share, it earned in the same period last year. Dell’s revenue fell to $12.9 billion from $15.16 billion,
Earnings and revenues missed Street estimates.

Nov 20 · 1:06:00 PM · Source: Company News
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by Larry Etter

Adobe Systems (ADBE)

CNET is reporting that Adobe Systems expects to cut 680 full-time employees, or about 9 percent of its global workforce, as the company tries to align costs in the face of lagging sales. In September, Adobe reported that its fiscal third-quarter profit fell 29 percent amid declining sales.
Sales are down 38% through the 3rd quarter of 2009 compared to 2008. Adobe currently has a PE of 38, which seems very high for a company whose sales are declining at that pace.

Nov 19 · 1:15:00 PM · Source: CNet
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by Rich Pike

Applied Materials (AMAT)

Applied Materials Inc. said it plans to acquire Semitool Inc. for $364 million in cash, The $11 a share offer is a 31% premium over Semitool's Monday closing price. The deal would come on the heels of Applied Materials' acquisition of privately held Advent Solar.
The Semitool deal would boost the chip toolmaker's efforts in growing parts of the chip manufacturing market.

Nov 17 · 11:50:00 AM · Source: Company News Release
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by Larry Etter

Cisco (CSCO)

Cisco Monday announced a revised recommended voluntary cash offer to acquire TANDBERG. Under the revised terms, Cisco will offer to purchase all the outstanding shares of TANDBERG for 170 Norwegian Kroner per share for an aggregate purchase price of approximately $3.4 billion. Cisco will also increase the interest payable on the offer price to a rate of 3.00% from a rate of 1.75%. This revised offer represents Cisco's final price for this transaction, the company said.
Bloomberg quoted an analyst as saying "the fact they now have a pre-acceptance level of 40 percent increases the likelihood the bid will go through.

Nov 16 · 5:39:00 PM · Source: Company News Release
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by Larry Etter

Intel (INTC)

Intel Corporation Monday announced that its board of directors has approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.

Nov 16 · 5:33:00 PM · Source: Company News Release
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by Larry Etter

Apple (AAPL)

Though Apple has shunned the stylus in favor of multi-touch on the iPhone and iPod touch, a new patent application suggests the company is investigating superior handwriting and input recognition via pen.
The patent application, revealed this week, describes a system that would comprehend complex "ink information" created from the use of a pen-like stylus. Entitled "Method and Apparatus for Acquiring and Organizing Ink Information in Pen-aware Computer Systems," the document includes multiple references to "tablet" style computers.

Nov 12 · 1:23:00 PM · Source: Apple Insider
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by Michael Oliveto

Apple (AAPL)

Apple reached an agreement with StarHub Ltd. to start offering the iPhone in Singapore later this year.
StarHub Ltd., in a statement, said it will provide more information on the pricing, tariffs and the date of the device's availability in due course.

Nov 11 · 2:41:00 PM · Source: Reuters
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by Michael Oliveto

Hewitt Associates Inc (HEW)

Hewitt Associations that its fiscal fourth quarter profits rose to $64.4 million, or 68 cents a share, from $31.6 million, or 32 cents a share, a year earlier. The prior year included 17 cents in divestiture and real-estate related charges. Revenue before reimbursements dropped 6.1% to $757.7 million.

Nov 10 · 10:26:00 AM · Source: Company News Release
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by Larry Etter

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