Acxiom Leaps on Guidance

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Marketing information services provider Acxiom (ACXM) was up 18.2% in midmorning after announcing late Monday that it expects to meet or beat the Street's second-quarter estimates.

Acxiom also said it has been able to pay down more than $40 million in debt because of strong cash flow.

The company said it expects to exceed the consensus earnings estimate of 7 cents per share. It said that despite the economic downturn, it was able to close several deals in late September. Those contracts will not significantly affect the just-concluded quarter, but they add to Acxiom's revenue backlog.

Acxiom also affirmed that it expects to earn 28 to 33 cents per share in fiscal 2002.