CA Technologies (CA) to Acquire Arcot Systems Inc. for $200 Million

CA Technologies (Nasdaq: CA) announced on Monday that it has agreed to acquire Arcot Systems Inc, maker of authentication and anti-fraud software, for $200 Million.

Dave Hansen, General Manager for the Security business at CA Technologies, said in a statement. “Arcot brings to CA Technologies a strong business in fraud prevention and unique capabilities in advanced authentication using a software-only approach,”  “This acquisition adds industry-leading technology that extends the breadth and depth of our strong IAM portfolio and gives our customers more first-class options for securing their Web-based business.”

Arcot Systems, which was founded in 1997,  helps prevent fraudulent transactions for about one million internet credit card transactions daily, the company provides its software through its own hosted servers.

Ram Varadarajan, President and CEO of Arcot ,said in a statement.”Identity is a critical area for security whether you’re talking about in-house or the cloud, and with 120 million identities verified by our solutions today, we bring a strong, solid recurring revenue base as well as sources of new growth opportunities for CA Technologies,”

Arcot’s operations and 165 employees will join CA Technologies.

Shares of CA Technologies were down 16 cents to $18.14.

Hewlett-Packard (NYSE: HPQ) shares jumped on Monday morning the company said its board of directors authorized the company to purchase $10 billion worth of its own stock.

Interim CEO and Chief Financial Officer Cathie Lesjak said in a prepared statement.”HP has a strong balance sheet,”  “We plan to be active in repurchasing our shares, and we expect to repurchase at least $3 billion worth of our shares in our fiscal fourth quarter at current price levels.”

HP, the Palo Alto computer giant, bought back about $2.6 billion in the third quarter, the company said. In November 2009, HP had put aside $8 billion for buybacks. HP has approximately $4.9 billion remaining to buy back its stock.

HP is currently in  a bidding war with Texas computer maker Dell (Nasdaq: DELL) to purchase  data-storage company 3Par (NYSE: PAR). HP’s current offer is $2 billion for 3Par.

Shares of HP rose 3 percent this morning to $39.11.

Target (TGT) Launching Electronic Trade In Program

Target Corp. (NYSE: TGT) announced that it is launching an Electronics Trade-In program that allows customers to trade in new or used electronics and receive a credit toward any target purchase in the form of a gift card.

Target’s new Trade-In program allows its customers to trade in their new or used iPhones, iPods, cell phones and video games into stores that have Mobile centers that are partnered with RadioShack  and receive a Target gift card instantly. The Target Mobile center will appraise the items and customers can decide if they choose to trade the items in.

The company also has partnered with NextWorth and will be launching a Trade-In Program on Target.com.

The retailer also has started testing a toll free hotline, 877-myTGTtech last month, which is available to customers who purchased an electronic item at Target.

The Trade In program started in Northern California on August 24 and will be available to approximately 850 stores by the end of 2010.

Johnson & Johnson (NYSE: JNJ) has announced a voluntary recall of two hip-replacement systems due to a higher rate of revision surgeries required by patients. The most recent recall comes only two days after getting a warning from the FDA that it is illegally marketing two other products.

DePuy Orthopaedics Inc., Johnson & Johnsons Orthopaedics unit, announced on Thursday it is recalling two hip replacement products because most recent data shows that within 5 years, every 1 in 8 patients need a second hip replacement procedure.

The recalled hip replacement systems are the ASR XL Acetabular System, which is the cup portion of the hip joint, was launched in 2004 and is available world wide. The other is the ASR Hip Resurfacing System, a partial hip replacement that involves the placing of a metal cap on the ball of the hip bone, was launched in 2003 and available for sale outside the U.S. only.

The company is requesting patients with an ASR device visit their surgeons for a check up of device performance and suggests yearly monitoring to recheck it. Johnson & Johnson said  it intends to cover costs of monitoring and treatment for services, including revision surgeries.

Johnson & Johnson shares closed at $57.60, up 34 cents.

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