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Stock Market & Financial Investment News

News Breaks
April 9, 2014
10:33 EDTORCL, MKTO, CTCTConstant Contact surges after preliminary Q1 revenue beats consensus
Shares of marketing tools maker Constant Contact (CTCT) are surging after the company reported preliminary first quarter revenue that exceeded analysts' projection. WHAT'S NEW: Last night, Constant Contact reported that it expected first quarter revenue to be between $78.7M-$78.8M, while analysts consensus view was $77.34M. The company raised its FY14 revenue guidance to approximately $330M, while analysts consensus had been just above $323M. Constant Contact, which had previously seen FY14 revenue growth of more than 13%, said its current revenue guidance of $330M represents more than 15.5% year-over-year revenue growth. WHAT'S NOTABLE: During Constant Contact's conference call, the company said that its better-than-expected first quarter revenue growth resulted from a strong performance from each of its growth levers, which include new customer additions, ARPU and retention. The company said it added 50K gross customers and 10K net new customers in the first quarter. Looking ahead to the balance of FY14, Constant Contact said it expects that the gains in the first quarter will flow through the remainder of the year. The company noted that the increase of its FY14 revenue guidance represents a new baseline with opportunities for further gains over the course of the year. In the coming weeks, Constant Contact also said it is planning to launch Toolkit, which is a new integrated business platform offering to small businesses that had previously only been available to larger enterprises. ANALYSTS REACTION: Dougherty upgraded Constant Contact today following the better than anticipated preliminary first quarter results that the company announced yesterday, taking its rating on the shares up to Hold from its prior Sell rating. PRICE ACTION: During morning trading, shares of Constant Contact rose 27.5% to $27.95. OTHERS TO WATCH: Other providers of marketing software and solutions include Marketo (MKTO) and Responsys, which was recently acquired by Oracle (ORCL).
News For CTCT;MKTO;ORCL From The Last 14 Days
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November 24, 2014
08:34 EDTORCLJefferies software analysts hold an analyst/industry conference call
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November 20, 2014
16:53 EDTORCLOracle initiated with a Hold at Jefferies
Target $41.
07:11 EDTORCLBofA/Merrill to hold a conference
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November 17, 2014
07:28 EDTMKTOMarketo shares should be bought, says JMP Securities
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November 14, 2014
06:12 EDTORCLSAP to pay Oracle $359M to settle legal battle, WSJ reports
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November 13, 2014
09:45 EDTCTCTConstant Contact management to meet with Barrington
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07:12 EDTORCLOracle to hold a meeting
2014 OAGi Plenary Meeting is being held in Redwood City, California on November 13-14.
November 12, 2014
12:29 EDTMKTOMarketo management to meet with JMP Securities
Meeting to be held in Los Angeles on November 13 hosted by JMP Securities.

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