ValueClick said today that it expects third-quarter earnings to fall within its previous guidance of 16 to 17 cents per share. The Internet-advertising firm also narrowed its quarterly revenue forecast to a range between $156 million and $157 million, compared to earlier projections of $155 million to $165 million. The company, citing weak lead generation, slashed its full-year revenue guidance from its previous range of $645 million to $660 million to a more modest $635 million to $640 million. Analysts are expecting the firm to turn a third-quarter profit of 17 cents per share.
The shares of ValueClick are set to close on a deficit of more than 10%, giving up support from their 10-day moving average in the process. However, the stock has bounced back from its lows of the day to regain a position atop its 20-week moving average.
Today's announcement may have caught option traders off-guard. The stock's Schaeffer's put/call open interest ratio is 0.62, lower than 78% of other such readings taken during the past 52 weeks. In the soon-to-expire October series, peak call open interest lies at the 30 strike, which is now deep-out-of-the-money as VCLK trades below 25.