Stocks in the news: Adobe, Omniture, Anadarko Petroleum

Before you go, we thought you'd like these...
Before you go close icon
Some of the companies making headlines today:

Adobe Systems (ADBE) announced late Tuesday it is acquiring Omniture (OMTR) for $1.8 billion in cash. This is seen "as a very positive sign -- not just for tech, but for the broader mergers and acquisitions market, as well as the economy as a whole." OMTR shares jumped 25 percent in pre-market trading; ADBE shares fell over 5 percent.

Anadarko Petroleum (APC) and Tullow Oil PLC said Wednesday they have discovered oil off the coast of Sierra Leone, a find that analysts say signals huge potential for further discoveries. The deepwater discovery is at the Venus exploration well and is the first in an area. Shares gained over 5 percent ahead of the bell.

Oracle (ORCL) has ended a computer-building partnership with Hewlett-Packard Co. (HPQ) as it prepares to acquire Sun Microsystems Inc (JAVA), a rival of HP. The software giant also reports results after the close today. Preview here.

Wells Fargo (WFC) CEO said on Wednesday that the firm's modified mortgage loans are performing well in the early days.

Bank of New York Mellon (BK) and the Russian government have reached an out-of-court settlement in the $22.5 billion Russian government lawsuit against the bank..

J.P. Morgan Chase & Co.'s (JPM) CFO said late Tuesday the company won't be too quick to raise dividend, but that it may increase its dividend next year if the economy continues to recover.

Rogers Corp. (ROG) raised its third-quarter outlook, citing strong performance in its printed circuit materials and high performance foams segments. ROG shares jumped over 7 percent in pre-market action.

Rambus Inc. (RMBS) late Tuesday raised its sales forecast for the third quarter, citing stronger chip demand, which led to higher royalty payments. Shares were 3.7 percent higher before the bell.

Corning Inc. (GLW) said Wednesday that it has bought all shares of Axygen BioScience Inc. and its subsidiaries from American Capital Ltd. (ACAS) for about $400 million in cash. ACAS shares soared nearly 20 percent.

KB Home (KBH) said Wednesday that it is resuming its homebuilding operations in the Mid-Atlantic region, including Maryland and Virginia.

ArcelorMittal (MT) said Wednesday it's looking at deals that will leverage its "leadership and integration know-how to deliver synergies." Meanwhile, Citigroup upgraded MT to Buy from Hold.

Barclays (BCS) find itself a year later being accused by of taking $8.2 billion more than it should have when it bought key assets of the failed investment bank a year ago.

Select analyst calls:

  • UBS downgraded Verizon Communications Inc. (VZ) to Neutral from Buy and cut its 2009 EPS forecast.
  • Bank of America-Merrill Lynch upgraded Amazon (AMZN) to Buy from Neutral.
  • UBS upgraded eBay (EBAY) from Neutral to Buy and upped the target price from $24 to $28.
  • Jefferies & Co upgraded Novartis (NVS) from Hold to Buy.
  • Bernstein upgraded Yahoo! (YHOO) from Market Perform to Outperform and upped target from $18 to $21.
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners