Wednesday, September 16, 2009

Intraday action

AlphaNinja - The rally continues. US stocks are up handily. The Dow is up nearly a percent with most sectors gaining, while the Nasdaq is up closer to 1%.

Among winners is web analytics and search optimization firm Omniture(OMTR), purchased by Adobe (ADBE) for $1.8billion. Adobe is among the losers, as investors may not be pleased with the gross margin profile of the new acquisition, which is significantly below Adobe's own. Omniture is trading 30cents above the $21.50 offered by Adobe, as people speculate on another bidder emerging. The deal price implies a Price-to-Sales ratio of 4 for Omniture, versus Adobe's 5.7 P/S.

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