UPDATE: Barrington Research Downgrades Active Network to Market Perform on Guidance Reduction

Barrington Research lowered its rating on Active Network ACTV from Outperform to Market Perform. Barrington Research noted, "We are lowering our investment rating to MARKET PERFORM from OUTPERFORM because we think it could take a while for investors to regain confidence after Active reduced 2012 guidance for the second consecutive quarter and set 2013 guidance below Street consensus. While three of its technology-revenue businesses are growing 10-15%, the Outdoor segment is now growing in the single digits and marketing revenue continues to face headwinds. We expect the stock to decline by at least 20% today." Active Network closed at $9.29 on Thursday.