2 Stocks Plunged Sharply (MM, ODP)

Los Angelas, CA -- (SBWIRE) -- 02/21/2013 -- Millennial Media, Inc. (NYSE:MM) posted disappointing quarterly results, hit by the loss of a few large deals and its decision not to pursue low-end businesses.

Millennial posted Q4 revenue of $58 million, up 67.8 percent from a year ago, and up 22 percent sequentially, but well below the Street consensus at $62.9 million. Profits of three cents a share matched the Street consensus.

For the first quarter of the current year, the company sees revenue of $48 million to $50 million, falling short of the Street at $56.4 million. The company sees an adjusted EBITDA loss of $1 million to $1.5 million in the quarter; Street consensus had been for an adjusted EBITDA profit of $1.7 million.

For all of 2014, Millennial is projecting revenue of $270 million to $280 million, below the Street at $286.4 million. The company sees full year adjusted EBITDA of $17 million to $18 million, below the Street at $18.2 million.

Shares of MM fell 37.54% and is trading at $8.95.

Is MM Showing Any Sign of Buy At The Current Market Price? Find Out Here

Office Depot Inc. (NYSE:ODP) said Wednesday it will buy OfficeMax in an all-stock deal; the two hope the move will create a single, transformed company to compete with much larger Staples.

Boca Raton, Fla.-based Office Depot Inc. and Naperville, Ill.-based OfficeMax said holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own.

That’s equal to about $13.50 per share, based on Office Depot’s $5.02 per share closing price Tuesday, giving the deal a total value of about $1.2 billion. The combined company’s name, marketing brands and corporate headquarters will be determined after the company names a CEO.

What Are ODP’s Charts Signaling For Traders? Find Out Here

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