CoreLogic Down 9% After Company Updates Outlook

Shares of CoreLogic

are down nearly 9% after the company updated its 2012 outlook. Expected growth in 2012 revenue reflects the impact of 2011 acquisitions and organic growth in spatial solutions and Data and Analytics segment revenues. Strong growth in 2012 Adjusted EBITDA reflects the impact of significant cost savings actions under the Company's Project 30 initiative, the impact of 2011 acquisitions and organic revenue growth. The company reaffirms its targeted incremental cost reductions of $60 million through Project 30 cost initiatives in 2012. Approximately half of this amount is expected to result from actions taken by the company in the second half of 2011.