Korn/Ferry International Shares Dropped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of executive headhunter Korn/Ferry International (NYS: KFY) fell as much as 12.4% in heavy morning action.
So what: On the eve of a presidential job-creation speech that left the markets cold, Korn/Ferry also reported a set of analyst-pleasing first-quarter results. Share prices hardly budged on the earnings report but plunged after Obama's speech.
Now what: The Dow Jones Industrial Average (INDEX: ^DJI) took a 2.8% plunge today in reaction to disappointing showings by Obama and Bernanke, but the human resources industry fared much worse. Korn/Ferry was the steepest dropper, followed by a 6.4% plunge for Kelly Services (NAS: KELYA) , a 6.2% swoon in ManpowerGroup (NYS: MAN) , and a 5% fall on Heidrick & Struggles (NAS: HSII) . These are difficult times for any job-search specialist, but hey -- I hear there's at least one high-profile talent search going on in Sunnyvale these days ...
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At the time this article was published
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