Adobe Inc.
NASDAQ symbol ADBE, makes software that lets computer users easily create, edit and share electronic documents in the popular Acrobat PDF format. It also makes software that graphic designers use to create print publications and web pages.
ADOBE SYSTEMS INC. $62.19 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 498.7 million; Market cap: $30.4 billion; No dividends paid) reported a 12.5% earnings decline in the quarter ended August 29, 2014, to $0.28 a share from $0.32 a year earlier. Revenue rose 1.0%, to $1.0 billion from $995.1 million. The company continues to shift away from selling software as a one-time purchase and toward a subscription model. That hurts Adobe’s short-term sales and profits, but it should bring more predictable revenue streams as users continue to switch over. The stock now trades at 30.8 times the $2.02 a share that Adobe will likely earn in 2015. That’s a high p/e ratio for a company that mainly serves customers in cyclical businesses like publishing....
ATLANTIC TELE-NETWORK, $55.15, symbol ATNI on Nasdaq, is raising its quarterly dividend by 7.4%, to $0.29 a share from $0.27, with the October 10, 2014, payment. The stock now yields 2.1%. Atlantic closed the sale of its Alltel wireless business to AT&T (symbol T on New York) late last year. It now holds cash of $407.6 million, or $24.64 a share, and has paid off its $271.1 million of debt. The company could use its high cash balance to make acquisitions or expand its remaining operations. It could also make further dividend increases or pay special dividends. Meanwhile, the stock trades at a high 26.3 times the $2.10 a share that Atlantic is forecast to earn this year....
ADOBE SYSTEMS INC. $62.19 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 498.7 million; Market cap: $30.4 billion; No dividends paid) reported a 12.5% earnings decline in the quarter ended August 29, 2014, to $0.28 a share from $0.32 a year earlier. Revenue rose 1.0%, to $1.0 billion from $995.1 million.
The company continues to shift away from selling software as a one-time purchase and toward a subscription model. That hurts Adobe’s short-term sales and profits, but it should bring more predictable revenue streams as users continue to switch over.
The stock now trades at 30.8 times the $2.02 a share that Adobe will likely earn in 2015. That’s a high p/e ratio for a company that mainly serves customers in cyclical businesses like publishing.
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The company continues to shift away from selling software as a one-time purchase and toward a subscription model. That hurts Adobe’s short-term sales and profits, but it should bring more predictable revenue streams as users continue to switch over.
The stock now trades at 30.8 times the $2.02 a share that Adobe will likely earn in 2015. That’s a high p/e ratio for a company that mainly serves customers in cyclical businesses like publishing.
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The Direxion iBillionaire Index ETF, $25.40, symbol IBLN on New York (Units outstanding: 1.4 million; Market cap: $35.6 million; www.direxioninvestments.com), is designed to profit from copying the moves of billionaire investors, such as Warren Buffett, Carl Icahn, Daniel Loeb and David Tepper. The ETF began trading on August 1, 2014. Its MER is 0.65%—lower than most mutual funds, but high for an ETF. The Direxion iBillionaire Index ETF selects up to 10 billionaire investors from a pool of 50, based on their personal net worth, source of wealth, stock turnover and performance over time. It then selects stocks from their investment firms or hedge funds....
ADOBE SYSTEMS INC. $69 (Nasdaq symbol ADBE; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 497.4 million; Market cap: $34.3 billion; Price-to-sales ratio: 8.5; No dividends paid since June 2005; TSINetwork Rating: Average; www.adobe.com) earned $140.6 million in its fiscal 2014 third quarter, which ended August 29, 2014. That’s down 14.5% from $164.4 million a year earlier. Per-share earnings declined 12.5%, to $0.28 from $0.32, on fewer shares outstanding. Revenue rose 1.0%, to $1.01 billion from $995.1 million. The company continues to shift away from selling software as a one-time purchase and toward a subscription model. It now gets 63% of its revenue from recurring subscriptions. Adobe ended the latest quarter with 2.8 million subscribers to its Creative Cloud package of photo editing and desktop publishing programs, up 21.8% from a year earlier. Adobe Marketing Cloud, a package of software aimed at improving online marketing efforts and website performance, saw its revenue rise 13.8%....
CONAGRA FOODS INC., $33.61, New York symbol CAG, rose 4% this week after reporting better-than-expected earnings.
In its fiscal 2015 first quarter, which ended August 24, 2014, ConAgra’s earnings form ongoing operations fell 16.6%, to $111.2 million, or $0.25 a share....
In its fiscal 2015 first quarter, which ended August 24, 2014, ConAgra’s earnings form ongoing operations fell 16.6%, to $111.2 million, or $0.25 a share....
CARFINCO FINANCIAL GROUP INC., $11.33, symbol CFN on Toronto, is the subject of a friendly takeover bid from Banco Santander of Spain (ADR symbol SAN on New York). The offer is for $11.25 a share in cash. Carfinco will also pay a special dividend of up to $0.10 a share when the deal closes. Carfinco is now trading at $11.33, which is just about equal to the value of the cash and special dividend. The company’s directors and executive officers, who collectively own a 12.9% stake, have agreed to support the deal. However, Carfinco could attract a rival bid, or significant shareholders, such as mutual funds, could hold out for a higher offer....
ADOBE SYSTEMS INC. $69 (Nasdaq symbol ADBE; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 497.4 million; Market cap: $34.3 billion; Price-to-sales ratio: 8.5; No dividends paid since June 2005; TSINetwork Rating: Average; www.adobe.com) earned $140.6 million in its fiscal 2014 third quarter, which ended August 29, 2014. That’s down 14.5% from $164.4 million a year earlier. Per-share earnings declined 12.5%, to $0.28 from $0.32, on fewer shares outstanding. Revenue rose 1.0%, to $1.01 billion from $995.1 million.
The company continues to shift away from selling software as a one-time purchase and toward a subscription model. It now gets 63% of its revenue from recurring subscriptions.
Adobe ended the latest quarter with 2.8 million subscribers to its Creative Cloud package of photo editing and desktop publishing programs, up 21.8% from a year earlier. Adobe Marketing Cloud, a package of software aimed at improving online marketing efforts and website performance, saw its revenue rise 13.8%.
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The company continues to shift away from selling software as a one-time purchase and toward a subscription model. It now gets 63% of its revenue from recurring subscriptions.
Adobe ended the latest quarter with 2.8 million subscribers to its Creative Cloud package of photo editing and desktop publishing programs, up 21.8% from a year earlier. Adobe Marketing Cloud, a package of software aimed at improving online marketing efforts and website performance, saw its revenue rise 13.8%.
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SYMANTEC CORP. $24.28 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (408-517-8000; www.symantec.com; Shares outstanding: 692.7 million; Market cap: $16.7 billion; Dividend yield: 2.5%) sells computer-security technology, including anti-virus and email-filtering software, to businesses and consumers....
ADOBE SYSTEMS INC. $71.02 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 497.4 million; Market cap: $35.8 billion; No dividends paid) makes a range of software that lets computer users create, edit and share documents in the popular PDF format. As well, graphic designers use its software to create print publications and web pages.
In its fiscal 2014 second quarter, which ended May 30, 2014, Adobe earned $186.3 million, up 1.9% from $182.9 million a year earlier. Earnings per share rose 2.8%, to $0.37 from $0.36, on fewer shares outstanding. Revenue gained 5.7%, to $1.07 billion from $1.01 billion.
The improved results are mainly because Adobe is signing up more subscribers to its Creative Cloud package of photo editing and desktop publishing programs. The company added 464,000 Creative Cloud customers in the quarter and currently has a total of 2.3 million. It now expects to end fiscal 2014 with 3.3 million users, up from its earlier target of 3.0 million.
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In its fiscal 2014 second quarter, which ended May 30, 2014, Adobe earned $186.3 million, up 1.9% from $182.9 million a year earlier. Earnings per share rose 2.8%, to $0.37 from $0.36, on fewer shares outstanding. Revenue gained 5.7%, to $1.07 billion from $1.01 billion.
The improved results are mainly because Adobe is signing up more subscribers to its Creative Cloud package of photo editing and desktop publishing programs. The company added 464,000 Creative Cloud customers in the quarter and currently has a total of 2.3 million. It now expects to end fiscal 2014 with 3.3 million users, up from its earlier target of 3.0 million.
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