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Velti

6/20/2013, 3:17 AM ET

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Thursday, June 13, 12:45 PM Midday top 10 gainers: BLC +27%. GCI +26%. CERE +19%. TVL +17%. LRAD +14%. GTN +13%. ENVI +13%. VSTM +12%. PXLW +12%. OVRL +11%.
Midday top 10 Losers: CHNG.PK -19%. HMTV -16%. EAC -15%. SGOC -14%. CREG -13%. CRTX -11%. RFIL -11%. VELT -10%. ECTE -10%. JVA -9%. 1 Comment [On the Move]
Thursday, June 6, 9:39 AM Beaten-down Velti (VELT +6.6%) opens higher after announcing Toyota will use the company's mGage mobile ad-serving/tracking platform to optimize its ad campaigns. Toyota: "By understanding who our users are and how and when to reach them, we can make real-time campaign adjustments that increase accuracy." Shares still -59% YTD. (PR) Comment! [Tech, On the Move]
Thursday, June 6, 9:10 AM Premarket gainers: CIEN +12%. NVAX +12%. FCEL +10%. VELT +10%. UNIS +7%. CLVS +7%. SODA +6%. FNSR +6%. JDSU +5%.
Losers: PAY -16%. CWTR -12%. VRA -9%. RST -8%. GA -6%. 1 Comment [On the Move]
Tuesday, May 14, 12:45 PM Midday top 10 gainers: PDII +31%. UNTK +22%. ALIM +19%. SODA +15%. CHLN +15%. TEAR +14%. ESI +14%. ECTY +14%. BVSN +12%. RVLT 12%.
Midday top 10 losers: TELOZ -28%. OPXA -19%. SED -16%. STXS -14%. FMAR -13%. VELT -12%. TSRE -12%. TRMD -11%. CCCL -10%. PT -10%. Comment! [On the Move]
Tuesday, May 14, 10:58 AM Millennial Media (MM +8.5%) is now up 12% over the last two days. Yesterday, Millennial announced the launch of a Japanese unit - the Japanese mobile content market hasn't been easy for foreign firms to crack. Millennial's gains come as mobile ad peer Velti (VELT -9.5%) dives after announcing another revenue miss and bleak guidance (as well as a COO change). On its earnings call, Velti stated days sales outstanding was still a whopping 309 days at the end of Q1, but promised full-year DSO would be under 100 days. The cash-strapped company expects free cash flow to be around -$8M to -$12M in Q2, before "a significant amount of cash flow" is produced in Q3. 1 Comment [Tech, On the Move, Earnings]
Tuesday, May 14, 9:10 AM Premarket gainers: PDII +33%. ECTY +20%. NSPH +18%. SNE +9%. WPX +8%. TTWO +6%. TSLA +6%. RENN +5%.
Losers: TRMD -15%. MOSY -13%. PT -11%. VELT -10%. SCTY -10%. TSL -6%. NBG -6%. 2 Comments [On the Move]
Monday, May 13, 5:23 PM In tandem with its Q1 report, Velti (VELT) announces director and former Johnson & Johnson/Intuit exec Mari Baker is its new COO. Presumably this means former COO Chris Kaskavelis is out. Velti expects Q2 revenue of $42M-$45M, below a $55.2M consensus. No formal 2013 revenue guidance is given, though the company does state revenue "is expected to come in lower than original mid-point guidance of $267.5 million." Velti had $16.3M in cash at the end of Q1, down from $36.6M at the end of Q4; positive 2013 adjusted EBITDA is promised. Over 20% of the workforce has been cut (previous). VELT now -5% AH. (PR) 1 Comment [Tech, Earnings, On the Move]
Monday, May 13, 4:53 PM Velti (VELT): Q1 EPS of -$0.27 beats by $0.07. Revenue of $41M misses by $1.14M. Shares +4% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Monday, May 13, 12:10 AM Notable earnings after Monday’s close: HMIN, IOC, SCTY, TRQ, TTWO, VELT, WX Comment! [Earnings]
Sunday, May 12, 5:35 PM Notable earnings after Monday’s close: HMIN, IOC, SCTY, TRQ, TTWO, VELT, WX Comment! [Earnings]
Friday, May 10, 10:14 AM Velti (VELT -2.9%) has cut 200 jobs (over 1/6 of its workforce) ahead of its May 13 Q1 report, says Mobile Marketer. The site adds (but can't confirm) Velti may move out of its San Francisco offices in an effort to cut costs. The report isn't too surprising, given how Velti is contending with diving sales (Q1 revenue is expected to be down 19% Y/Y) in the wake of a decision to stop doing business in markets with extremely long collection times. Jefferies argued in March Velti now faces "going concern" risks. Can its new mobile ad network help right the ship? Comment! [Tech]
Tuesday, May 7, 12:48 PM Velti (VELT -2.9%) files an F-3 to sell 16.5M shares on behalf of insiders. The filing comes with shares of the mobile ad agency down 56% YTD, and down 81% over the last 12 months. (Q1/2013 guidance) Update: As commenter James Sands points out, the shares will be sold by accredited investors who recently purchased them from Velti at $1.50/share (25% below Velti's current price) through a private placement. 5 Comments [Tech, On the Move]
Friday, April 19, 9:35 AM Velti (VELT -8.2%) falls in early trading after announcing a 16.5M share offering to institutional investors at $1.50. Proceeds ($24.8M) will go towards paying "certain deferred acquisition considerations" related to the company's 2012 acquisition of MIG. 5 Comments [On the Move, Tech]
Wednesday, April 3, 7:07 PM eMarketer hikes its 2013 and 2014 U.S. mobile ad sales forecasts to $7.29B and $11.3B, above the $6.97B and $10.9B forecast in December. Facebook's (FB) U.S. mobile ad sales are now seen totaling $965M in 2013 and $1.51B in 2014, up from a prior $851M and $1.22B, and Pandora's (P) estimates have been raised to $372M and $550M from a prior $347M and $496M. But Millennial Media (MM), which issued light guidance in February, is now seen posting U.S. sales of $94M in 2013 and $139M in 2014, below a prior $138M and $199M. Google's estimates remain at $3.98B and $6.32B. 4 Comments [Tech]
Monday, April 1, 6:20 PM As far as tablets go, concerns about mobile ad monetization could be misplaced. Credit Suisse recently reported its checks indicate search ad "user behavior and conversion rates on tablets are very similar" to PCs, even as tablet ad prices remain 20%-40% lower. The firm expects Google's (GOOG) AdWords overhaul to help narrow the pricing gap. Meanwhile, Marin Software (MRIN) predicts tablet conversion rates will eclipse PC rates by year's end, and mobile ad firm Adfonic reports tablet click-through are well above smartphone rates in many (but not all) categories. 1 Comment [Tech]
Wednesday, March 27, 9:25 AM Premarket gainers: CHCI +51%. UTSI +23%. STSI +14%. VELT +12%. CHTP +11%.
Losers: ASTM -37%. CLF -14%. GV -7%. LNDC -6%. Comment! [On the Move]