Mobile ad firms Velti (VELT +14.7%) and Millennial Media (MM +8.2%) are bouncing after getting...

|By:, SA News Editor

Mobile ad firms Velti (VELT +14.7%) and Millennial Media (MM +8.2%) are bouncing after getting clobbered yesterday in the wake of the former's Q1 report, which featured some cash flow and receivables data that bothered the Street. Analysts defending Velti talked up the company's efforts to receive better payment terms, and its prediction it will see positive free cash flow by Q4. Update: Morgan Stanley has upgraded Millennial to Overweight on valuation grounds.