Acxiom stock falls after Facebook discontinues an audience-targeting option [MarketWatch]
ACXIOM (ACXM)
Last acxiom earnings: 8/9 04:05 pm
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Source: MarketWatch
Shares of data management firm Acxiom Corp. are down 20% in Thursday trading after Facebook Inc. announced its plans to discontinue Facebook Partner Categories, an audience-targeting platform. Facebook Partner Categories leveraged third-party data companies, including Acxiom. Acxiom said in a filing late Wednesday that it didn't expect the changes to affect its 2018 guidance, but it predicted that 2019 revenue and profitability could fall by up to $25 million. Facebook's move came amid calls for the social network to change its data-privacy practices in the wake of the Cambridge Analytica scandal. Facebook shares are up 5.4% in Thursday trading and up 13% over the past 12 months, while the S&P 500 has gained 12%.
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