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NetCreations Tumbles

September 13, 2000|Reuters

Shares of NetCreations Inc. plunged 42% after the e-mail marketing services provider said a pullback in spending by its Internet clients would mean its third-quarter earnings could be half or less of what Wall Street was expecting. The stock was down $8.88 at $12 on Nasdaq. It is now worth less than a fifth of the high of $69.75 it reached last December. New York-based NetCreations said its third-quarter earnings per share would range between 4 cents and 6 cents, well below the 11 cents analysts had been expecting. The company earned 11 cents in the year-earlier quarter. It expects net revenue of $14 million to $15 million for the third quarter. In the year-ago quarter, it logged $4.9 million in revenue.

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