Thursday, April 10, 2008

Focus Media (NASDAQ:FMCN) lowers guidance

* Announces revised guidance for mobile advertising business
* Sees FY 2008 revenue $860 million to $890 million
* Reuters Estimates FY 2008 revenue view $909.40 million
* Says expects FY revenue for wireless business will be significantly lower
than previously announced guidance of $54.0 million to $55.8 million
* Sees revenue from mobile handset business in 2008 to be between $14.0 million
to $15.8 million

- Via Reuters

Notablecalls: While Trader is calling for recent lows ($29.25), I respectfully disagree. Piper Jaffray was out neg on FMCN yesterday saying CHL had stopped co's wireless services (6% of revs). The stock was down close to 7%.

So, today's warning is pretty much priced in already. Saw some conviction buyers around $30.50. Should represent the floor. Fwiw.

Not sure you can get fills around there, though.

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