Web-based marketing company
was up 3% in late morning after saying it will cut 120 jobs and take other cost-cutting measures totaling $40 million. As a result of the actions, the company expects a year-end loss per share of 90 cents to 95 cents vs. analysts' expectations of $1.63. The company expects a first-quarter loss of 39 cents to 41 cents vs. 45 cents expected by analysts.
Netcentives also announced that President Eric Larsen would become CEO, replacing West Shell III. Shell will remain chairman.