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News Breaks | | | | June 29, 2012 | | 10:31 EDT |  | VCLK | ValueClick rallies after saying sales will meet high end of outlook
Digital marketing services company ValueClick (VCLK) is climbing after the company said that its second quarter revenue would be at the high end of its previous guidance of $155-$160M. Analysts' consensus estimate for the company's second quarter revenue before the announcement was $157.28M. In a note to investors this morning, research firm Needham said that the company remains on track to generate $700M of revenue in FY12. Analysts on average expect the company's full-year revenue to reach $696.41M. Needham also predicts that ValueClick, which authorized a $100M increase in its share repurchase funds, will "aggressively" repurchase its own shares. The firm believes the news last night should reverse the recent downward momentum in the stock. In mid-morning trading, ValueClick jumped $1.65, or 11.70%, to $15.75. | |
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