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November 10, 2009

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LV company’s stock active on CEO comments

Friday, Dec. 29, 2000 | 10:26 a.m.

PurchasePro.com stock advanced $2.38 to $21.75 Thursday after the Las Vegas company's chief executive discussed the firm's financial outlook on CNBC.

The stock, however, fell $1.53 to $20.22 this morning.

Chief Executive Charles Johnson said the Internet business-to-business commerce company should be earnings-per-share positive in the first quarter. He said the current fourth quarter is strong due to the ramping effect of recurring revenue.

Johnson's earnings outlook was no surprise to analysts, who have seen PurchasePro's stock pounded during Nasdaq's roller-coaster ride.

"They've been beaten down but they're still executing effectively," said analyst Brendan McGovern at Dresdner Kleinwort Benson. "They're going to be the winner of the B-to-B space (on the Internet)."

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