Investors in LifeSize include Redpoint Ventures, Sutter Hill Ventures, Pinnacle Ventures, Norwest Venture Partners and Tenaya Capital (which used to be a unit of Lehman Bros.)

The company said LifeSize expects calendar 2009 revenue of about $90 million, with 2010 revenue expected to be up 40%-60%. Logitech said the deal should be neutral to slightly positive to operating income in its March 2011 fiscal year, and positive after that.

The deal is expected to close in December.

In late trading, LOGI is down 3 cents, at $18.04.

The move will result in a pre-tax charge of $65 million to $71 million, the company said, the bulk of it for severance, and $18 million to $20 million of that will be recorded in the current quarter. Adobe also expects to incur additional costs related to its acquisition of Omniture, which the company announced on September 15. Adobe didn’t specify the extent of those additional charges.

Adobe shares are down 15 cents, or 0.4%, at $36.45 in after-market trading, after rising the same amount during the regular session.

Instant analysis: Brigantine Advisors analyst Sri Reddy writes in a note this afternoon that the cuts should help company margins in 2010. He likes the prospects for the company’s forthcoming Creative Suite 5 product, but he maintains a “Hold” on the stock, deeming it too rich at 21.5x next year’s projected EPS.

Clearwire (CLWR) this afternoon reported Q3 revenue of $68.8 million, slightly better than the Street consensus of $66.6 billion; it posted an adjusted OIBDA loss of $193. 8 million in the quarter, with a net loss attributable to Class A common holders of 43 cents a share, in line with Street expectations.

The WiMax wireless broadband company said it had 44,000 net subscriber adds in the quarter, increasing the total to 555,000. Churn inched up to 3.1% from 3.0% a year ago.

The company said it expects ARPU to be about flat through the rest of 2009 and in 2010, but with increasing churn in pre-WiMax markets; it also expects costs per gross addition to rise as it rolls out service in more markets. The company said it expects total net cash spend in Q4 of $750 million, bringing the total for the year to $1.9 billion, at the high end of previous guidance of $1.5 billion to $1.9 billion.

Clearwire noted that it finished the quarter with about $2 billion in cash and short-term investments; earlier today it announced a new $1.584 billion equity capital raise with existing investors, as well as a new round of debt funding which will provide $240 million in new capital.

In late trading, CLWR is down 9 cents, or 1.2%, to $7.10.

The deal is expected to close in December. Cavium said the deal should “significantly increase” its software and services revenue, and should be gross margin and non-GAAP earnings accretive in 2010 and beyond.

The company says MontaVista is “a leader in multi-core embedded Linux operating systems, virtualization, development tools and professional services with a broad array” of Tier-1 networking equipment, industrial and consumer electronics companies.

Investors in MontaVista include Siemens Venture Capital, NEC, Alloy Ventures and U.S. Ventures Partners, among others.

Zorovic thinks the new version of CS5 will benefit from pent-up demand and the operating system refreshes from both Apple and Microsoft, as well as an improving economy.

Meanwhile, TechCrunch is reporting rumors of significant layoffs at Adobe today, perhaps as much as 15% of the staff. I’ve called Adobe seeking comment, and will update when I get a response.

ADBE today is up 24 cents, or 0.7%, to $36.69.

Unfortunately, the list does not include some of the nation’s busiest airports.

In the Bay Area, San Jose is on the list, but not SFO or Oakland. None of the three New York-area airports are on the list. Chicago? No. Denver? No. Dallas? No. LAX? No. Atlanta? ‘Fraid not. But Las Vegas is on the list, as well as both airports in Houston. Plus Traverse City, South Bend and State College.

1. Cubs
2. Pirates
3. Dodgers

Mark Cuban, the blogger, media mogul, stock trading billionaire owner of the Dallas Mavericks, has been lusting for a major league baseball franchise. He’s made unsuccessful runs at both the Chicago Cubs and the Pittsburgh Pirates; now he has zeroed in on the Los Angeles Dodgers.

According to the L.A. Times, Cuban says he has heard from many Dodgers fans who have appealed to him to buy the team. Frank McCourt contends he is the sole owner, and says  the Dodgers are not for sale; but that situation is complicated by his pending divorce. Jamie McCourt contends she is a co-owner, and her lawyer says she has lined up financing to buy out her estranged husband.

Cuban says he wouldn’t want to lever up to buy the team, though.

“I’m not a fan of debt-driven acquisitions,” Cuban wrote in an e-mail to the Times. “If a unique situation came up where I could contribute capital to buy out a majority shareholder and gain control, with existing shareholders or note holders staying in place, I would consider it.” That’s not the situation in L.A., though, where one or both McCourts hold all of the stock.

At this point, it still seems like a long shot, but I like the idea; with Cuban at the helm, Dodgers fans might even be tempted to stick around past the 7th inning stretch.

• RBC Capital analyst Mike Abramsky writes that announcements at the conference have narrowed the “perceived competitive gaps” versus rival smart phone platforms. The company unveiled an updated Web browser which is expected to ship early in 2010, demonstrated a new user interface, and announced new push, security and location-based services. RIMM also demonstrated Adobe Flash support on the BlackBerry. He notes that the new tools will allow for services like notifying users when friends are nearby. He says the combination of new offerings “may leapfrog” both the Apple (AAPL) iPhone, which can’t multi-task, and Android, which lacks the ability to do push applications. Abramsky maintains his Outperform rating.
• Kaufman Bros. analyst Shaw Wu likewise asserts that yesterday’s developments strengthen the company’s position in the app space, “leveraging its leading push network technology.” He notes that with new support for the OpenGL graphics standard, the BlackBerry can offer better games. Other new features will allow the ability to build location-aware, revenue generating apps including advertising, content push and enhanced GPS services. Wu maintains his Buy rating and $93 target, and asserts that the stock remains undervalued.
• Barclays Capital analyst Jeff Kvaal says checks find “very healthy” demand for the Curve 8520 and 8900 models in Western Europe, Latin America and Southeast Asia; he says checks on the Storm 2 find demand is “solid,” though lagging behind the Motorola (MOT) Droid; he says sales are better in Europe. He notes that Bold 2 has launched with international carriers, and that AT&T launch is coming soon. Kvaal says that the stock at 12x consensus EPS for the February 2011 fiscal year “anticipate a miss.” Adds Kvaal: “very negative sentiment may yield to solid if not very strong fiscal Q3 results.” He keeps his Overweight rating and $90 target.

RIMM today is up $1.30, or 2.1%, to $62.86.

Ho, ho, ho!

TWX today is up 8 cents at $31.72.

GT Solar (SOLR) shares are down sharply this morning after Piper Jaffray analyst Jesse Pichel this morning cut his rating on the shares to Underweight from Neutral, with a new price target of $3, from $7. The stock closed yesterday at $5.54. Pichel’s move comes one day after the company posted FY Q2 results that were about in line with the company’s recent pre-announcement.

Pichel writes that he has “major cocnerns” on the company’s backlog of polysilicon manufacturing equipment orders; he says the backlog total is at risk due to the “rapidly deteriorating” financial conditions of some of its customers in China as the government there “clamps down on new poly entrants in an effort to rationalize capacity.” He thinks that many poly start-ups in China could shut down, and that “it will be difficult for SOLR to get new bookings or realize its contracted backlog.”

Moreover, he thinks there are risks that even current customers with orders now in backlog could cancel. He thinks the portion of backlog at risk is much higher than the 20% indicated by management. He notes in particular that LDK Solar (LDK), historically the company’s largest customer, “is on a financial precipice and…unlikely to remain a customer.”

With book value of just 73 cents a share, he cautions that downside is higher than upside near term.

SOLR today is down 72 cents, or 13%, to $4.82.

“while we believe the company’s long-term business model remains sound,” she writes in a research note, “we expect near-term results to remain under pressure due to the current macro headwinds and as the company works its way through the implementation of a new ERP system. Accordingly, we believe the stock is going to be range bound for the foreseeable future.”

BIDZ today is down 12 cents, or 4.1%, to $2.80.

Oppenheimer analyst Srinivas Anantha upped his rating to Outperform from Perform, setting a price target of $24. (The stock closed yesterday at $18.32.) He cites four reasons for the more bullish stance:

• “Excellent position” to capitalize on rise of managed hosting services.
• Strong cloud services portfolio.
• Impressive scalability.
• Strong financial position.

Meanwhile, Kaufman Bros. analyst Colby Synesael upped his rating to Buy from Hold, lifting his price target to $22, from $16.  He says the more upbeat view reflects strong Q3 results as well as “increasing demand for its services.” Synesael lifted his 2010 revenue forecast to $760.7 million from $711.1 million. He also notes that management indicated no plans to raised capital in an equity offering near term, “which we also view as a positive.”

RAX today is up 47 cents, or 2.6%, to $18.79.

• Citigroup analyst Timothy Arcuri cut his rating on the stock to Sell from Hold, with a new target of $7, down from $12. (The stock closed yesterday at $10.93.) He notes that the company has about 7.5 months of finished good inventory at current ship rates, and maintains prices above peers. The company, he says, faces a “nasty tradeoff” as result - keep prices high with low volume, or cut prices and burn cash. He warns that net cash, neutral now, is headed to a $3-$4 a share deficit by the end of 2010. Gross margin will hover at about zero for the news few quarter, he says. He sees losses of $1.64 a share in FY 2010, $1.97 in FY 2011 and $1.94 in FY 2012.
• J.P. Morgan analyst Christopher Blansett cut his rating to Neutral from Overweight, with a new target of $15, down from $26, conceding that his “investment thesis has not played out.” He had thought that the company’s focus on the BIPV (building integrated voltaics) market would help the company weather the difficult solar market; but he says weaker-than-expecte demand for commercial solar installations is limiting BIPV sales. He also thinks the inventory build is “concerning.”

ENER today is off 26 cents, or 2.4%, to $10.67.

Opnext (OPXT) shares have been slammed this morning following the company’s worse-than-expected financial report for its fiscal second quarter ended September 30.

The company posted revenue of $81 million, down from $85.3 million a year ago, and well below the Street at $89.9 million. OPXT suffered a non-GAAP loss of 10 cents a share, worse than the Street consensus of 5 cents. Opnext said the shortfall was due to slower-than-expected demand in 40 GBPS products for the U.S. backbone market, as a result of “customer inventory builds and cautious spending tied to the global economic uncertainty.”

For FY Q3, the company sees revenue of $75 million to $80 million, below the Street at $91.5 million.

Jefferies analyst William Choi this morning cut his rating on the stock to Underperform from Buy, with a new price target of $2, down from $3. “Opnext is a market leader in 40G optics,” he writes. “However, the technology is taking longer than expected to ramp. In the meanwhile, the company is incurring losses and is operating below cash-flow break-even. We do not foresee a return to profitability in 2010.”

OPXT today is down 85 cents, or 29.6%, to $2.02.

The offer includes:

• $500 million of notes due November 2014 paying 2.90%, priced to yield 2.955%.
• $2.5 billion of notes due January 2020 and paying 4.45%, priced to yield $4.469%.
• $2 billion of notes due January 2040 and paying 5.5%, priced to yield 5.679%.

Cisco will use proceeds for general corporate purposes.

Just why Cisco raised the extra cash is note entirely clear; it finished the October quarter with a whopping $35.4 billion in the till.

Cisco today is off 29 cents, or 1.2%, to $23.70.

The stock closed yesterday at $6.80.

Here’s the way the new cash breaks down:

• Sprint, which already owns a majority stake, is investing another $1.176 billion.
• Comcast: $196 million.
• Time-Warner: $103 million.
• Intel: $50 million.
• Eagle River: $20 million.
• Bright House: $19 million.

The WiMax-based broadband wireless company said it will get $1.057 billion in cash within five business days, $440 million by year end 2009, and the remaining $66 million during Q1 2010.

The company also plans to offer at least $1.45 billion in new senior secured notes, to be used to pay off an existing $1.4 billion credit facility. Sprint and Comcast, which are investors in the existing credit facility, have agreed to receive replacement debt on the same terms as the new offering, effectively increasing the size of the offer by $240 million.

CLWR today is off 5 cents at $6.75.

The Shanghai-based solar products reported revenue for the quarter of $193.3 million, up 119.6% sequentially, down 37.6% from a year ago, and way above the Street consensus at $136.2 million. Shipments were 177 MW, up 129.9% sequentially and 78.8% year over year. EPS of 10 cents a share was well ahead of the Street at 23 cents.

For Q4, the company sees shipments of 170 MW to 200 MW, bringing the full year to 448 to 478 MW. Capacity at year end is expected to be 800 MW.

The company also said that CTO Qingtang Jiang has resigned to pursue other interest, and that a search for a replacement as already identified qualified candidates.

JASO is up 39 cents, or 9.5%, to $4.51.

Net proceeds are expected to be $14.6 million. The company, which focuses on wireless communications products, expects to use the cash for working capital and other general corporate purposes, including funding R&D and marketing.

The development stage company late yesterday reported a Q3 loss of $5.7 million; it has no revenue. At quarter end, the company had $3.3 million in cash.

PRKR this morning is down 53 cents, or 20.8%, at $2.02.

If you want to get refreshed on the strange saga of Parkervision, read Bill Alpert’s piece on the company from the print edition of Barron’s published in December 2007.

• Sun noted that the EC’s objection focused on the “potential negative effects on competition” from Oracle’s acquisition of MySQL; the company noted that a “statement of objections” is a preliminary documents that does not pre-judge the EC’s final decision. Sun note that a final decision by the EC would be subject to appeal to the European Court of First Instance.
• Oracle went on the offensive. (Surprise!) In an unattributed statement, (which certainly sounds a lot like CEO Larry Ellison)  the company said that the deal is “essential” for competition in the high-end server market, and that it “does not threaten to reduce competition in the slightest, including the database market.” Oracle asserts that there are at least 8 strong players in the database business, that Oracle and MySQL are “very different database products,” and that “there is no basis in European law for objecting to a merger of two among eight firms selling differentiated products.” Oracle added that the EC’s position “reveals a profound misunderstanding of both database competition and open source dynamics.” The company also said it plans to “vigorously oppose the Commission’s statement of objections,” asserting that “the evidence against the Commission’s position is overwhelming.” Concludes Oracle: “Given the lack of any credible theory or evidence of competitive harm, we are confident we will ultimately obtain unconditional clearance of the transaction.”

In late trading, JAVA is up 10 cents, or 1.2%, to $8.34.

Update: The Department of Justice, which already has approved the deal, has issued a statement that repeated its view that the proposed deal “is unlikely to be anti-competitive.”

• Live Nation posted Q3 revenue of $1.81 billion, up from $1.59 billion a year ago, and ahead of the Street consensus at $1.62 billion. The company said the 14% increase in revenue was driven by a 12% increase in event attendance. Adjusted operating income of 160.8 million was up sharply from $109.5 million; free cash flow of $123.2 million was nearly double the $64.4 million reported for the year-ago quarter. EPS of 78 cents a share missed the Street estimate by two cents. The company noted that results reflect $7.8 million in expenses relating to the pending deal.
• Ticketmaster reported Q3 revenue of $348.5 million, up 3% year over year, and a bit above the Street at $344.8 million. Adjusted EPS of 29 cents a share beat the Street at 18 cents. Results include $4.1 million of expenses related to the acquisition.

In late trading, LYV is down 10 cents, or 1.4%, to $7.22. TKTM is down 11 cents, or 1%, to $10.61.