Monster Worldwide Shares Popped: 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 Monster Worldwide (NYS: MWW) have popped today by as much as 11% after the company announced that it has retained financial advisors to evaluate its options.
So what: The company says it has retained financial advisors Stone Key Partners LLC as well as Bank of America Merrill Lynch in connection with its previously announced review of strategic alternatives. Just last week, shares similarly roared higher on comments from CEO Sal Iannuzzi to the same effect.
Now what: Today's announcement follows up Iannuzzi's sentiments that shareholders "deserve a better return," and "strategic alternatives" can often refer to a possible company sale or division spinoff. These types of reviews are often lengthy and sometimes don't bear buyout fruit, so today's pop is a bit premature. A possible sale could be a happy ending for investors, especially as LinkedIn (NYS: LNKD) is set to disrupt how job seekers and recruiters are matched nowadays with a social element.
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