Monster Worldwide benefited from the improving job market in the first quarter, but not as much as investors hoped.
The online help wanted firm reported earnings of 11 cents a share after the close on Tuesday, a penny better than expected, and revenues also topped forecasts, but the stock declined two points after hours, as investors were apparently looking for stronger results from the long-awaited jobs rebound. With competitors like careerbuilder.com, competition in the space is tough.
Still, the company predicts even better things to come.
“We are encouraged by the improving trends in the employment market as reflected in our Monster Employment Index for March, as well as the continued migration of employers to the online recruiting market,” CEO Andrew McKelvey said in a statement. “The record high deferred revenue number at the Monster division in the quarter demonstrates the underlying strength in our business.”
Also after the close, Microstrategy blew out estimates, and Sina.com
, Flextronics
, Wireless Facilities
, Websense
and UTStarcom
also beat estimates. Avaya
and Maxim
met estimates. Network Associates
missed, and RF Micro
warned.
Stocks were mixed during the day despite strong earnings reports and a better than expected consumer confidence reading, as terrorism concerns weighed on the market.
The Nasdaq lost 4 to 2032, the S&P 500 gained 2 to 1138, and the Dow rose 33 to 10,478. Volume rose to 1.52 billion shares on the NYSE, and 1.98 billion on the Nasdaq. Advancers led 18-14 on the NYSE, but decliners led 16-15 on the Nasdaq. Upside volume was 51% on the NYSE, and 33% on the Nasdaq. New highs-new lows were 145-187 on the NYSE, and 124-31 on the Nasdaq.
Rambus fell 12% after its patent infringement case against Infineon
was delayed.
Verizon slipped on its earnings report.
Novatel , Kronos
and FindWhat
rose on their earnings reports, but Silicon Labs
, EDS
, California Amplifier
, Neoware
, Conexant
and Tumbleweed
fell on their results.
Global Crossing plunged 27% on accounting concerns.
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