Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Morgan Stanley Cuts Acxiom to 'Neutral'


Morgan Stanley DW downgraded Acxiom Corp. (ACXM) to underperform from neutral.

Analyst Michael Russell says the situation seems worse than expected not only in terms of the economy, but also because of an accounting impact. The company cited $3 million-$6 million in one-time items that were not discussed in the press release at all.

Russell thinks Axciom is increasing investors' uncertainty by not holding a conference call until Wednesday. He cut the $0.36 4Q EPS estimate to $0.10 and put the fiscal 2002 (March) estimates under review. Russell says there's no visibility beyond Q4, and says the disappointing guidance warrants Monday's stock price weakness.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus