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Stock Market & Financial Investment News

News Breaks
February 20, 2014
08:44 EDTMCHXMarchex price target raised to $13 from $11 at RBC Capital
RBC Capital increased its price target on Marchex after the company reported higher than expected Q4 revenue and inline EPS, along with higher than expected FY13 call based revenue guidance. The firm thinks the results were strong, and it thinks that broader adoption of call based ads could enable the company to beat expectations. It keeps an Outperform rating on the stock.
News For MCHX From The Last 14 Days
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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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September 16, 2014
07:57 EDTMCHXFBN Securities to hold a tour
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