Monster Worldwide (MWW) Plunges After CEO Warns Buyers Are Few and Far Between (LNKD)

February 7, 2013 2:09 PM EST Send to a Friend
Shares of Monster Worldwide (NYSE: MWW) declined on Thursday after the company’s CEO told investors during a conference call that potential buyers were few and far between. In March Monster said it was exploring a sale, but so far a serious buy has not emerged.

“It’s slower than I would have anticipated,” CEO Sal Iannuzzi told investors today. “I can’t guarantee that there’s anything of interest or appropriate interest to bring to our board for presentation.”

Iannuzzi also said that certain developing markets were not important to potential buyers, and the company was exiting Brazil, Mexico and Turkey to concentrate resources in North America, Europe, Korea and India.

Monster performance has suffered at the hands of a weak job market, combined with increased use of social networking sites such as LinkedIn Corporation (NYSE: LNKD).


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