Thursday, August 11, 2005

Sell-side reactions to ValueClick and FastClick's earnings (FSTC and VCLK 2Q05 earnings)

ValueClick (ticker: VCLK) announced this morning that it is acquiring FastClick (ticker: FSTC). The price? 0.79 VCLK shares for every FSTC share, valuing FastClick at about $10 per share, or about 12% higher than it was trading previously. Here are reactions from two sell-side analysts to the companies' recently announced Q2 results, including their comments on valuation as background for understanding how much ValueClick is paying and how its currency is valued:

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Posted by David Jackson on August 11, 2005 at 11:06 AM in Earnings results, Sub-sector: Advertising, ticker: FSTC, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Monday, August 08, 2005

ValueClick discusses content and acquisitions; a reaction to the Adware problem? (VCLK 2Q05 conf call quotes)

Like other Internet companies, ValueClick  (ticker: VCLK) has benefitted from the rising cost of Web advertising, allowing the company to raise its guidance for the year when it released its Q2 results.  CEO James Zarley discussed his acquisition strategy on the conference call, asserting that it is driven by the desire to drive increased traffic to its affiliate marketing and comparison shopping businesses. Nobody on the call asked about ValueClick's potential exposure to adware and spyware - traffic acquired through adware can be monetized through affiliate marketing and comparison shopping - despite the recent revelation of the impact on InfoSpace. Could ValueClick's desire to acquire legitimate properties to drive traffic to its other businesses be at least a partial reflection of concern about its current traffic sources? Excerpts:

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Posted by David Jackson on August 8, 2005 at 02:38 AM in Conf call quotes, Sub-sector: Content, Sub-sector: E-tailing, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Friday, August 05, 2005

ValueClick beats by $0.02, raises FY05 guidance (VCLK 2Q05 earnings results)

ValueClick (ticker: VCLK) reported Q2 2005 earnings results that beat both consensus revenue and EPS estimates. Key stats from the quarter:

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Posted by David Jackson on August 5, 2005 at 08:23 AM in Earnings results, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Wednesday, July 13, 2005

Will there be consolidation among the online ad networks? (FSTC, GOOG, MSFT, TWX, VCLK, YHOO)

There's an interesting debate occuring about the online ad networks. Online Journalism Review summarized the problems with Google's AdSense program and Yahoo's ContentMatch program. Jason Calacanis, founder of blog network Weblogs Inc., admits that most of his ad revenue is from brand ads, but still argues that contextual ads have no downside. He then wrote:

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Posted by David Jackson on July 13, 2005 at 11:25 AM in Sub-sector: Advertising, ticker: FSTC, ticker: GOOG, ticker: MSFT, ticker: TWX, ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Friday, June 17, 2005

ValueClick discusses online advertising (VCLK)

Sam Paisley, Chief Administrative Officer of affiliate marketing and advertising firm ValueClick (ticker: VCLK), spoke at the Stephens Information Technology and Services Conference on June 9th. Here were some of his comments about the online advertising market and ValueClick's growth rate:

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Posted by David Jackson on June 17, 2005 at 12:08 AM in Conf call quotes, Sub-sector: Advertising, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Tuesday, May 24, 2005

The Spitzer Internet Danger List - an update (AQNT, GOOG)

An earlier post on The Internet Stock Blog provided a list of stocks at risk from Eliot Spitzer's attack on the Adware/Spyware industry. One group with potential exposure: providers of paid search and affiliate ads, including FindWhat (ticker: FWHT), Yahoo/Overture (ticker: YHOO), CGI Holding (ticker: THK), ValueClick (ticker: VCLK), 24/7 Media (ticker: TFSM), Think Partership (ticker: THK) and LinkShare (partially owned by Internet Capital Group, ticker: ICGE).

Now research by Spyware legal expert Ben Edelman has expanded the list to cover other publicly-traded companies. They are:

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Posted by David Jackson on May 24, 2005 at 01:49 AM in Sub-sector: Advertising, ticker: AQNT, ticker: DCLK, ticker: FSTC, ticker: FWHT, ticker: GOOG, ticker: ICGE, ticker: TFSM, ticker: THK, ticker: VCLK | Permalink | Comments (0) | TrackBack (3)

Monday, May 09, 2005

Sell-side reaction to ValueClick's (VCLK) earnings

From Pacific Growth Research analyst Derek Brown's May 5th note to clients reacting to ValueClick's (ticker: VCLK) Q1 earnings:

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Posted by David Jackson on May 9, 2005 at 12:00 PM in Earnings results, Sub-sector: Advertising, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Friday, May 06, 2005

ValueClick discusses comparison shopping (1Q05 conf call quotes)

ValueClick (ticker: VCLK) CEO Jim Zarley discussed PriceRunner, the European comparison shopping business his company acquired. Standard & Poor's Equity Research analyst Scott Kessler asked Mr Zarley how PriceRunner would be differentiated from the competition once it enters the U.S. market. Here's Mr Zarley's response, and a couple of quick questions:

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Posted by David Jackson on May 6, 2005 at 12:30 PM in Conf call quotes, Sub-sector: Advertising, Sub-sector: Search, ticker: SHOP, ticker: VCLK | Permalink | Comments (1) | TrackBack (2)

Tuesday, May 03, 2005

Bambi Francisco on Internet stocks' Adware exposure

Bambi Francisco, who covers Internet stocks for MarketWatch, published a column this morning about Internet companies' exposure to potential Adware/Spyware litigation. It's surprising that the issue has hit the mainstream financial literature so quickly - most sell-side analysts haven't yet acknowledged the risk to stocks. Perhaps this says a lot about the quality of Ms. Francisco's coverage. Key quotes from her article:

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Posted by David Jackson on May 3, 2005 at 11:07 AM in Sub-sector: Advertising, Sub-sector: Content, ticker: ASKJ, ticker: CNET, ticker: FWHT, ticker: MIX, ticker: NFLX, ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Monday, May 02, 2005

Affiliate marketers VCLK, ICGE's exposure to Spitzer's attack on Adware: more details

The Internet Danger List: stocks at risk from Spitzer's attack on Adware included a section on affiliate marketing companies ValueClick (ticker: VCLK), Commission Junction (partially owned by Internet Capital Group, ticker: ICGE) and Think Partnership (ticker: THK). Here's more detail on those companies' potential exposure to the Adware/Spyware issue, aided by input from readers' since the original article was published:

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Posted by David Jackson on May 2, 2005 at 02:06 PM in Sub-sector: Advertising, Sub-sector: Content, ticker: ICGE, ticker: TFSM, ticker: THK, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Friday, April 29, 2005

The Internet Danger List: stocks at risk from Spitzer's attack on Adware

The attack on the illegal disemination of spyware and adware may not end with Eliot Spitzer's suit against Intermix Media (ticker: MIX). This report outlines why and provides a tentative list of other Internet stocks at risk. Stocks mentioned: ASKJ, CD, CNET, FLWS, FWHT, IACI, ICGE, INPC, SPRK, TFSM, THK, TSG, VLCK, and YHOO.

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Posted by David Jackson on April 29, 2005 at 03:14 AM in Sector Themes/Outlook, Sub-sector: Advertising, ticker: ASKJ, ticker: CD, ticker: CNET, ticker: FLWS, ticker: FWHT, ticker: IACI, ticker: ICGE, ticker: INPC, ticker: SPRK, ticker: TFSM, ticker: THK, ticker: TSG, ticker: VCLK, ticker: YHOO | Permalink | Comments (5) | TrackBack (10)

Tuesday, April 26, 2005

DoubleClick take-out and lackluster earnings a warning for other Internet ad stocks? (1Q05 earnings)

DoubleClick (ticker: DCLK) agreed to be acquired by private equity firm Hellman & Friedman LLC for $8.50 per share in cash, following lackluster Q1 results. Though DCLK is no longer "in play" for most investors (its now an arbitrage bet on the deal's closure), its Q1 results and purchase provide important data points and lessons for Internet investors. Details and comments:

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Posted by David Jackson on April 26, 2005 at 11:35 AM in Earnings results, Sub-sector: Advertising, ticker: APTM, ticker: AQNT, ticker: DCLK, ticker: FSTC, ticker: FWHT, ticker: LOOK, ticker: TFSM, ticker: VCLK | Permalink | Comments (2) | TrackBack (0)

Tuesday, April 12, 2005

Become.com launches, Shopping.com wins AOL France

Three developments in the comparison shopping space:

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Posted by David Jackson on April 12, 2005 at 04:18 AM in Sub-sector: E-tailing, ticker: CNET, ticker: GOOG, ticker: IACI, ticker: SHOP, ticker: VCLK, ticker: YHOO | Permalink | Comments (1) | TrackBack (2)

Thursday, April 07, 2005

Sell-side analyst cuts estimate for ValueClick but still likes the stock

Pacific Growth Equities analyst Derek Brown cut his estimates on ValueClick (ticker: VCLK) but maintained his Overweight rating. Here's an extract from his note to clients:

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Posted by David Jackson on April 7, 2005 at 02:08 PM in Sub-sector: Advertising, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Sunday, April 03, 2005

Internet news/analysis in brief

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Posted by David Jackson on April 3, 2005 at 12:14 AM in ticker: FSTC, ticker: GOOG, ticker: GRU, ticker: IACI, ticker: MSFT, ticker: NTRT, ticker: RATE, ticker: RCOM, ticker: SHOP, ticker: TFSM, ticker: TWX, ticker: VCLK, ticker: YHOO | Permalink | Comments (4) | TrackBack (0)

Thursday, March 31, 2005

Internet news/analysis in brief

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Posted by David Jackson on March 31, 2005 at 12:23 AM in ticker: ASKJ, ticker: FLWS, ticker: GOOG, ticker: IACI, ticker: KNOT, ticker: LOOK, ticker: NILE, ticker: SHOP, ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Monday, March 28, 2005

Business Week on secondary search plays

Following IAC's (ticker: IACI) announcement that it had agreed to acquire Ask Jeeves (ticker: ASKJ) last week, Business Week provides a list of other potential takeover targets:

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Posted by David Jackson on March 28, 2005 at 07:01 AM in Sub-sector: Search, ticker: ASKJ, ticker: FWHT, ticker: IACI, ticker: INSP, ticker: SHOP, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Tuesday, February 22, 2005

The future of comparison shopping

Sean O'Rourke, author of the Organized Shopping Blog, writes his thougths and questions on the future of comparison shopping. This is a must-read for anyone interested in Shopping.com, Google's Froogle, Yahoo Shopping, MSN Shopping, and ValueClick's entry into comparison shopping. Here are his thoughts in full:

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Posted by David Jackson on February 22, 2005 at 08:52 AM in Sector Themes/Outlook, Sub-sector: E-tailing, ticker: GOOG, ticker: MSFT, ticker: SHOP, ticker: VCLK, ticker: YHOO | Permalink | Comments (1) | TrackBack (1)

Microsoft launches MSN Shopping beta

Microsoft launched the beta of MSN Shopping, with strengthened comparison shopping tools. Competitors: Yahoo! Shopping, Shopping.com, Google's Froogle and ValueClick. Microsoft's Andrew Ma asked for feedback, and Sean O'Rourke provided it, concluding that:

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Posted by David Jackson on February 22, 2005 at 12:03 AM in Sub-sector: E-tailing, ticker: GOOG, ticker: MSFT, ticker: SHOP, ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (1)

Sunday, February 20, 2005

Sell-side reaction to ValueClick's (VCLK) quarter

Here's an extract from what Pacific Growth Equities analyst Derek Brown wrote to clients after ValueClick announced its Q4 results and discussed expansion on its conference call:

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Posted by David Jackson on February 20, 2005 at 09:56 AM in Sub-sector: Advertising, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Friday, February 18, 2005

ValueClick (VCLK) on comparison shopping (quotes from the 4Q04 conf call)

ValueClick (ticker: VCLK) CEO JIm Zarley discusses his company's purchase of European comparison shopping engine PriceRunner and his plans for its expansion in 2005:

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Posted by David Jackson on February 18, 2005 at 10:50 AM in Conf call quotes, Sub-sector: Search, ticker: SHOP, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

ValueClick (VCLK) on AdWords and affiliate marketing (quotes from the 4Q04 conf call)

ValueClick (ticker: VCLK) CEO JIm Zarley discusses the impact on affiliate marketers of Google's change in rules to the AdWords program, which reduces the number of ads that appear for the same product and end-vendor on a single search or content page.  Here's what he said:

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Posted by David Jackson on February 18, 2005 at 10:45 AM in Conf call quotes, Sub-sector: Advertising, ticker: VCLK | Permalink | Comments (0) | TrackBack (2)

ValueClick (VCLK) blows out numbers (Q4 '04 earnings)

ValueClick (ticker: VCLK) blew out Q4 earnings numbers. Details:

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Posted by David Jackson on February 18, 2005 at 10:36 AM in Earnings results, Sub-sector: Advertising, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Thursday, February 17, 2005

Internet Capital Group (ICGE) discusses LinkShare and On-Demand software (quotes from the conf call)

Internet Capital Group CEO Walter Buckley discussed LinkShare, which ICGE owns 40% of, and On-Demand software. LinkShare competes directly with ValueClick (ticker: VCLK). Here's what Buckley said:

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Posted by David Jackson on February 17, 2005 at 03:46 PM in Conf call quotes, Sub-sector: Advertising, ticker: ICGE, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)

Thursday, December 30, 2004

S&P's top Internet stock picks are...

...Yahoo and Valueclick, according to this news release via Forbes. Rationale? S&P thinks both will gain market share, expand abroad, and benefit from acquisitions and growth in online advertising.

Incremental value to this call? Can't find much.

Posted by David Jackson on December 30, 2004 at 11:35 AM in ticker: VCLK, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

Monday, December 20, 2004

Business Week says invest in Internet advertising stocks

Business Week's Where to Invest in 2005 issue recommends companies that will benefit from a surge in Internet advertising next year.

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Posted by David Jackson on December 20, 2004 at 01:01 PM in Sector Themes/Outlook, ticker: AQNT, ticker: CNET, ticker: DCLK, ticker: INSP, ticker: IVIL, ticker: TSCM, ticker: VCLK | Permalink | Comments (0) | TrackBack (0)