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MCHX

Marchex

$2.75

-0.02 (-0.72%)

, OMC

Omnicom

$84.53

-0.47 (-0.55%)

16:07
10/03/16
10/03
16:07
10/03/16
16:07

Marchex CEO Pete Christothoulou resigns

Marchex (MCHX) announced changes to its executive leadership team to improve its operational performance and focus on returning the company to profitability. Pete Christothoulou has resigned as CEO, effective immediately. In addition, Clark Kokich has resigned as a member of the board of directors. Anne Devereux-Mills, board member, has assumed responsibilities as Chairman of the board of directors, effective immediately. She has more than 25 years of executive leadership experience in global advertising and marketing organizations. Previously, Devereux-Mills was an executive at the Omnicom Group (OMC), where she held roles of President, CEO and Chairman for companies within the Omnicom Group. The board of directors has created an Interim Office of the CEO subject to oversight by Anne Devereux-Mills as Chairman and comprised of the following members: Russell Horowitz, former CEO and Chairman of the Board and current consultant to the company, Michael Arends, Chief Financial Officer; Ethan Caldwell, Chief Administrative Officer and General Counsel; and Gary Nafus, Chief Revenue Officer. The Board of Directors will begin a search for the company's next CEO.

MCHX

Marchex

$2.75

-0.02 (-0.72%)

OMC

Omnicom

$84.53

-0.47 (-0.55%)

MCHX Marchex
$2.75

-0.02 (-0.72%)

01/25/16
ROTH
01/25/16
NO CHANGE
ROTH
Marchex identified as favorite idea at Roth Capital
Roth Capital expects Marchex to benefit from "numerous top-line catalysts," including new mobile ad channel products, international expansion and its partnership with WPP (WPPGY). The firm says that the stock's risk/reward ratio is "very favorable." It keeps a $6 price target and Buy rating on the shares.
08/10/16
ROTH
08/10/16
DOWNGRADE
ROTH
Neutral
Marchex downgraded to Neutral from Buy at Roth Capital
08/10/16
PIPR
08/10/16
NO CHANGE
Target $5
PIPR
Overweight
Marchex shares likely to trade near cash levels, says Piper Jaffray
Piper Jaffray analyst Gene Munster believes shares of Marchex will likely trade near cash levels after the company lowered its guidance for the back half of 2016 by 15%. Munster expects cash per share to exit 2016 at $2.45 or slightly higher. Marchex should return to cash generation in 2017 as new products and new sales headcount additions begin to be accretive, the analyst contends. He lowered his price target for the shares to $5 from $7 and keeps an Overweight rating on the name.
08/10/16
ROTH
08/10/16
DOWNGRADE
Target $3.75
ROTH
Neutral
Marchex downgraded to Neutral at Roth Capital
As previously reported, Roth Capital analyst Darren Aftahi downgraded Marchex to Neutral from Buy on lack of growth and limited near-term catalysts. However, with tangible book value sitting at about $3.31 per share, the analyst believes there may be limited downside for the shares. Aftahi lowered his price target on the stock to $3.75 from $4.25.
OMC Omnicom
$84.53

-0.47 (-0.55%)

10/16/15
10/16/15
UPGRADE

On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 2U (TWOU) upgraded to Buy from Neutral at Goldman... Blackstone (BX) upgraded to Outperform from Perform at Oppenheimer... Box (BOX) upgraded to Overweight from Neutral at JPMorgan... Caesarstone (CSTE) upgraded to Buy from Neutral at BofA/Merrill... Cogent (CCOI) upgraded to Buy from Hold at Drexel Hamilton... Gildan Activewear (GIL) upgraded to Outperform from Neutral at Credit Suisse... Habit Restaurants (HABT) upgraded to Overweight at Stephens... Infoblox (BLOX) upgraded to Buy from Neutral at Sterne Agee CRT... Omnicom (OMC) upgraded to Hold from Sell at Pivotal Research... PPG Industries (PPG) upgraded to Buy from Neutral at UBS... Publicis (PUBGY) upgraded to Hold from Sell at Pivotal Research... Quest Diagnostics (DGX) upgraded to Market Perform from Underperform at Wells Fargo... USANA (USNA) upgraded to Buy from Neutral at Sidoti... Under Armour (UA) upgraded to Positive from Mixed at OTR Global... WPP PLC (WPPGY) upgraded to Hold from Sell at Pivotal Research... lululemon (LULU) upgraded to Outperform from Neutral at Credit Suisse.
04/14/16
WELS
04/14/16
DOWNGRADE
WELS
Market Perform
Omnicom downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Peter Stabler downgraded Omnicom (OMC) to Market Perform saying expectations for margin expansion are priced into the shares at current levels. The analyst raised his price target range for the stock to $82-$84 from $80-$82. The analyst coupled the downgrade with an upgrade of MDC Partners (MDCA).
04/14/16
04/14/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cowen analyst Charles Neivert downgraded Potash (POT), Mosaic (MOS), Intrepid Potash (IPI) and CF Industries (CF), all to Underperform, citing the risk of further deterioration in the grain environment. He also cites the belief that nutrient prices and margins still have room to fail. Neivert said an increase in U.S. corn acreage to 93.6M acres, combined with likely gains in Brazilian and Argentine output, would likely result in a very sizable drop in both corn price and 2017 acreage. 2. PepsiCo (PEP) downgraded to Hold at Stifel citing valuation and its belief that the stock probably lacks "structural or growth-related catalysts." 3. Lennox (LII) downgraded to Sector Weight at KeyBanc with analyst Jeffrey Hammond saying he expects the stock to trade more in line with the peers after a period of multiple expansion. 4. Omnicom (OMC) downgraded to Market Perform at Wells Fargo by analyst Peter Stabler, who said expectations for margin expansion are priced into the shares at current levels. 5. Graco (GGG) downgraded to Neutral at SunTrust citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/15/16
FBCO
09/15/16
INITIATION
Target $83
FBCO
Neutral
Omnicom initiated with a Neutral at Credit Suisse
Credit Suisse analyst Omar Sheikh initiated Interpublic Group with a Neutral and a $83 price target on shares.

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