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ID: 1.163.058
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MfG MaatMOD
MfG MaatMOD
RTTNews) - Online Resources Corp. (ORCC: News ) announced Friday morning that its Board of Directors is evaluating unsolicited expressions of interest in potential business combinations that it has received from third parties.
Online Resources Corp. gapped up sharply Friday and spiked higher in early trade, before settling into a narrow range. The stock closed up by 1.52 at $6.07 on the highest volume of the year. Online Resources surged past resistance and closed at a new high for the year.
Online Resources Corp. gapped up sharply Friday and spiked higher in early trade, before settling into a narrow range. The stock closed up by 1.52 at $6.07 on the highest volume of the year. Online Resources surged past resistance and closed at a new high for the year.
(RTTNews) - Shares of Online Resources Corp. (ORCC: News ) soared as much as 37%on the Nasdaq Friday, following the company's announcement that it has received "unsolicited expressions of interest in potential business combinations" from third parties.
The Chantilly, Virginia-based company, which provides phone and web based financial, electronic payment and marketing services, said its Board of Directors were evaluating the offers, and will consider the alternatives against the long-term strategic growth plan of the company.
The company's board had recently approved its long-term strategic growth plan, under which it enhanced the management team and is currently investing in technology, products and organizational structure to drive revenue growth and margin improvement.
The company postponed its 2011 analyst and investor day event, previously scheduled for January 27, in light of the new developments. Online Resources refused to comment until its evaluation is complete, but said it hopes to provide additional information in conjunction with the release of its fourth-quarter financial results, planned for early March.
The Chantilly, Virginia-based company, which provides phone and web based financial, electronic payment and marketing services, said its Board of Directors were evaluating the offers, and will consider the alternatives against the long-term strategic growth plan of the company.
The company's board had recently approved its long-term strategic growth plan, under which it enhanced the management team and is currently investing in technology, products and organizational structure to drive revenue growth and margin improvement.
The company postponed its 2011 analyst and investor day event, previously scheduled for January 27, in light of the new developments. Online Resources refused to comment until its evaluation is complete, but said it hopes to provide additional information in conjunction with the release of its fourth-quarter financial results, planned for early March.
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