Velti (VELT -31.5%) has crumbled after missing Q3 EPS forecasts and stating it's abandoning...
Velti (VELT -31.5%) has crumbled after missing Q3 EPS forecasts and stating it's abandoning markets where collection times have risen to stratospheric levels. During its earnings call, Velti noted Americas sales rose 81% Y/Y and U.K. sales (boosted by MIG) 221%, but the rest of Europe (includes some markets Velti is leaving) rose only 22%. Jefferies (Buy) likes the fact "management ripped off the band-aid via a divestiture," but thinks shares will be pressured near-term. Millennial Media (MM +5%) opened lower, but is now recouping some of yesterday's big losses.
Check out Seeking Alpha’s new Earnings Center »
From other sites
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs