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Stock Market & Financial Investment News

News Breaks
December 7, 2012
16:09 EDTMCHXMarchex to pay 2013 dividends December 31
Marchex announced that the company's board has declared a regular quarterly dividend in the amount of 3.5c per share on its common stock for Q1, Q2, Q3, and Q4 of 2013 and is accelerating its payment of these dividends into 4Q12. Marchex will pay the dividends on December 31 to the holders of record as of the close of business on December 18.
News For MCHX From The Last 14 Days
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September 24, 2014
18:19 EDTMCHXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Jabil Circuit (JBL), up 3.8% after reporting fourth quarter results and fiscal 2015 guidance. ALSO HIGHER: Rexahn Pharmaceuticals (RNN), up 11.8% after announcing that the FDA has granted Orphan Drug Designation for its drug RX-3117 for the treatment of patients with pancreatic cancer... xG Technology (XGTI), up 7.8% after announcing stock purchase agreements for up to $16M... Marchex (MCHX), up 2.1% after receiving notice of termination from Allstate (ALL). DOWN AFTER EARNINGS: HB Fuller (FUL), down 11.3% after reporting second quarter results and guidance below analyst estimates.
17:33 EDTMCHXMarchex received notice of termination from Allstate
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September 19, 2014
10:06 EDTMCHXOn The Fly: Analyst Downgrade Summary
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07:10 EDTMCHXMarchex price target cut to $6 from $12 at RBC Capital
RBC Capital cut its price target on Marchex (MCHX) after the company announced that Allstate (ALL) would no longer be its customer. However, the firm notes that Marchex has about $3.40 per share in cash, and it still believes that the company can benefit from the mobile and local Internet "megatrend." It keeps an Outperform rating on the shares.
06:15 EDTMCHXMarchex downgraded to Market Perform from Outperform at BMO Capital
September 18, 2014
16:27 EDTMCHXOn The Fly: Closing Wrap
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14:50 EDTMCHXMarchex downgraded to Hold from Buy at Deutsche Bank
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12:45 EDTMCHXOn The Fly: Midday Wrap
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11:24 EDTMCHXMarchex price target lowered to $8 from $20 at Piper Jaffray
Piper Jaffray views today's pullback in shares of Marchex as understandable given the quick exit of Allstate from the company's call business. Piper lowered its price target for shares to $8, saying tough comparisons will be the biggest challenge for the stock. It keeps an Overweight rating on the name.
08:59 EDTMCHXOn The Fly: Pre-market Movers
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06:20 EDTMCHXMarchex cuts 2014 call-driven revenue outlook due to revised Allstate commitment
Allstate (ALL) has indicated its desire to move to a fixed fee model going forward. Under this proposed model, Marchex’s (MCHX) economic upside would have been limited, while financial exposure to Marchex would have remained. Marchex does not believe it is in its best long-term interest to work under such an arrangement. Marchex will continue to work with Allstate as an integration partner utilizing its call analytics technology. Marchex expects this will be a relatively small financial contributor. Marchex CEO Russell Horowitz said, "“This outcome is disappointing, as we believe that a performance-based model is the way most companies are progressing. This is the trend we are seeing with our customer base... Beyond Allstate, we continue to experience growth in our customer base for call-driven advertising products and believe we are early in the customer adoption phase of mobile and call-driven advertising."
06:16 EDTMCHXMarchex lowers FY14 call-driven revenue view to $170M-$172M or more from $178M
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06:14 EDTMCHXMarchex raises Q3 call-driven revenue view to $47.5M-$48.5M or more from $46M
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