WR Hambrecht Comments on Yahoo! (YHOO) and Digitas (DTAS) After Lower Guidance
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WR Hambrecht comments on Yahoo! (Nasdaq: YHOO) following guidance from the company at the low end of its prior view and news that it is seeing weakness in ad for the Automotive and Financial Services sector. Analyst Denise Garcia said, "We believe that two sectors do not represents advertising activity across the board and expect online advertising growth to remain robust this year at 29% y-o-y growth despite what may appear to be a soft quarter for Yahoo!.
The firm also said they would expect any negative news regarding Financial Services advertising to impact Digitas (Nasdaq: DTAS), which is the digital agency of record for large financial service advertiser, American Express.
The firm also says a negative quarter for Yahoo! would likely impact results from Marchex Inc. (Nasdaq: MCHX) and 24/7 Real Media Inc. (Nasdaq: TFSM).
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