Canaccord Genuity Morning Coffee on Monster Worldwide (MWW): Hope Everyone Knows How To Write Resumes
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Price: $3.41 --0%
Rating Summary:
4 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Monster Worldwide (NYSE: MWW): Hope everyone knows how to write resumes.
While at a conference in Boston, Monster Worldwide's CEO Salvatore Iannuzzi said he’s considering “strategic alternatives” to boost shareholder value. “Our shareholders deserve a better return,” Iannuzzi said. He did not disclose what alternatives the company was considering. However, investors typically interpret discussions of "strategic alternatives" as an indication a company is considering selling all or part of itself. Iannuzzi said his company, which runs the Monster.com recruiting web site, regards itself as sharply undervalued compared with its peers. He added, "The stock price is not where it should be. If you compare us to our competition, any company in our space, our multiple is severely below them." Over the past year, Monster shares have fallen about 60%. When the company reported financial results in January, it warned investors that it expected first-quarter profit to be lower than analysts expected and that it planned to cut its staff by about 7%, or 400 jobs. Monster has ~$250 million in cash and equivalents on its balance sheet.
Shares jumped about 16% yesterday to $8.01, but are giving some back this morning...currently trading at $7.82, down $0.19 (-2.37%)
While at a conference in Boston, Monster Worldwide's CEO Salvatore Iannuzzi said he’s considering “strategic alternatives” to boost shareholder value. “Our shareholders deserve a better return,” Iannuzzi said. He did not disclose what alternatives the company was considering. However, investors typically interpret discussions of "strategic alternatives" as an indication a company is considering selling all or part of itself. Iannuzzi said his company, which runs the Monster.com recruiting web site, regards itself as sharply undervalued compared with its peers. He added, "The stock price is not where it should be. If you compare us to our competition, any company in our space, our multiple is severely below them." Over the past year, Monster shares have fallen about 60%. When the company reported financial results in January, it warned investors that it expected first-quarter profit to be lower than analysts expected and that it planned to cut its staff by about 7%, or 400 jobs. Monster has ~$250 million in cash and equivalents on its balance sheet.
Shares jumped about 16% yesterday to $8.01, but are giving some back this morning...currently trading at $7.82, down $0.19 (-2.37%)
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