boosted its stock buyback plan by $20 million Wednesday, reiterating its confidence about the future.
The move gives the Westlake Village, Calif., marketing services firm $27 million to spend on stock buybacks.
"The increase in our stock repurchase program emphasizes the confidence that management and the board of directors have in the company's prospects for the future," said CEO Jim Zarley.
ValueClick's buyback boost comes just a week after the company saw its shares plunge 25% on the heels of
soft third-quarter guidance and plans to acquire a rival.
Early Wednesday, the stock slipped 12 cents to $6.99.