Local.com Plays Into Expectations (LOCM)

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By Douglas A. McIntyre Updated Published
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Local.com Corp. (NASDAQ:LOCM) is seeing shares surge in pre-market trading activity.  24/7 Wall St. just noted the chances in this week’s "10 Stocks Under $10" newsletter that the company was likely to turn on its press release machine soon based upon the recent share price drop.  Guess what…

Local.com announced that it has signed five license agreements for its local search patent, which covers methods for indexing and retrieving internet related information by geographical location.  The patent licenses have been integrated into revised contracts for the LocalConnect platform, which was recently expanded under the acquisition of PremierGuide.  Former PremierGuide clients Community Newspaper Holdings, GateHouse Media, Herald Association, Intellistrand, and The Telegraph cover over 200 sites owned and operated by these properties that have now completed revised contracts with Local.com.

Financial terms were not disclosed, but a 15% pop to $4.33 in pre-market trading pretty much says it all.  Local.com was also a member of our "Small Cap Internet Watch List" of stocks that under the right circumstances could become acquisition targets of larger web, media, and IT companies.

Jon C. Ogg
November 15, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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