Velti (VELT -8.3%) adds to yesterday's giant losses after Wells Fargo and Craig-Hallum downgrade...
Velti (VELT -8.3%) adds to yesterday's giant losses after Wells Fargo and Craig-Hallum downgrade shares in response to the company's analyst day remarks. CFO Jeff Ross' comments lead Wells to think "greater discipline on contract quality and geographical mix will have a significant negative impact on both revenue and EBITDA growth in the near-term" - Velti has already said it will divest assets in markets with very high collection times. The firm also notes formal 2013 guidance wasn't provided.
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