Adobe Systems (ADBE) NewsBite - ADBE To Acquire Omniture (OMTR)

Posted: Wednesday, September 16, 2009 10:00 AM EDT

Adobe Systems (NasdaqNM: ADBE) opened at $33.50. So far today, the stock has hit a low of $33.31 and a high of $33.85. ADBE is now trading at $33.66, down $1.96 (-5.5%). Over the last 52 weeks the stock has ranged from a low of $15.70 to a high of $45.26. ADBE announced last night it will acquire business software maker Omniture Inc. (OMTR) in a $1.8 billion in an all-cash deal valued at $21.50 per OMTR share. ADBE also reported third-quarter earnings last night, posting an adjusted profit of $186.1 million, or 35 cents per share, beating analysts' forecasts by a penny. Technical indicators for the stock are neutral and S&P gives ADBE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ADBE the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 37 range. [ABR-Seven Summits Strategic Investments NewsBite]

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