ChannelAdvisor rallies after plunging on lower guidance, follow-on

|About: ChannelAdvisor Corp (ECOM)|By:, SA News Editor

Shares of ChannelAdvisor (ECOM -0.9%) are rallying after having tumbled as much as 14% earlier in the day following Q3 results.

Although ECOM beat expectations in Q3, Q4 guidance for revenue of $19.6M-$20M (consensus of $19.7M) and EPS of -$0.31 to -$0.27 (-$0.23) was not initially well received by investors.

The company also filed a registration for a 5M share follow-on, with 1M shares to be sold by the company and 4M by shareholders. (S-1)

PR, conference call

This was corrected on 10/31/2013 at 10:44 PM. The item incorrectly stated that 4M shares would be sold by the company and 1M shares by shareholders.