Acxiom Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Acxiom (NAS: ACXM) popped 15% in intraday trading Wednesday after reporting in-line earnings and naming a Microsoft veteran as its new CEO and president.
So what: The quarter was nothing to get excited about: EPS of $0.13 met the consensus estimate and grew 8% year over year. Revenue grew 7%. Acxiom's earnings remain significantly below its 2006-2007 earnings.
Now what: The company named Scott E. Howe as its new CEO and president. The marketing and advertising veteran was previously a corporate vice president of Microsoft Advertising Business Groups, where he managed a multibillion-dollar online advertising business. Both the company and investors appear to believe Howe will help Acxiom become more effective at offering products and services for the rapidly evolving digital marketplace.
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