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Stock Market & Financial Investment News

News Breaks
January 7, 2014
17:55 EDTADSK, ADSK, ADSKAutodesk to host special shareholder meeting
Special Shareholder Meeting to approve an amendment to increase the number of shares reserved for issuance will be held in San Francisco on January 14 at 6 pm. Webcast Link
News For ADSK From The Last 14 Days
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September 30, 2014
07:45 EDTADSKAutodesk October volatility elevated on tight four-month price movement
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September 25, 2014
14:01 EDTADSKAutodesk provides details on previously reported 3D plans, 3DPrint.com says
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September 24, 2014
12:27 EDTADSKAutodesk volatility flat into company hosted investor day
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09:04 EDTADSKAutodesk to host investor day
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September 17, 2014
12:01 EDTADSKAdobe falls after Q4 revenue outlook trails consensus
Shares of creative software maker Adobe Systems (ADBE) are falling after it guided to fourth quarter revenue below analysts' consensus view. WHAT'S NEW: Last night, Adobe reported Q3 adjusted earnings per share of 28c and revenue of $1.005B, compared to analysts' consensus estimates of 26c and 1.02B, respectively. Adobe exited Q3 with 2.81M creative cloud subscriptions, a sequential increase of 502,000. WHAT'S NOTABLE: Adobe forecast Q4 adjusted EPS of 26c-32c, versus consensus of 31c. The company sees Q4 revenue of $1.025B-$1.075B, below the consensus forecast of $1.09B. The company expects net new creative cloud subscriptions to grow sequentially in Q4 to slightly exceed its target of 1M. ANALYST REACTION: This morning, analyst commentary was positive, with several firms recommending buying shares of Adobe on any weakness. Research firm Stern Agee was among them, stating that Adobe's revenue miss was driven by a shift of perpetual licenses to term contracts. Sterne Agee said that Adobe's deferred revenue outperformed, which should give long-term investors confidence in the name. It believes the long-term transition story is intact, and expects upside to revenues in FY15. The firm kept a Buy rating on the shares with a price target of $85. Two other firms, JMP Securities and BofA Merrill Lynch also recommended buying Adobe amid its post-earnings weakness. PRICE ACTION: Near noon, Adobe fell $2.74, or nearly 4%, to $68. Despite today's pull-back, the shares have gained about 40% over the past 12 months. ANOTHER TO WATCH: Autodesk, (ADSK), which also serves software customers in the digital media and entertainment industries, is down fractionally to $54.54.

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