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    January 12, 2013 Dallas 0

    Earnings estimates have moved up in the last few days after Monster Worldwide (MWW) reported results for the first quarter of 2012, which beat the Zacks Consensus Estimates by a penny. Excluding one-time charges, net income came in at 4 cents per share.

    This prompted most of the analysts covering the stock to up their estimates, leading to an increase in the Zacks Consensus Estimate for 2012.

    It was rumored earlier that management might sell a part or all of its business as the company has been facing tough times for quite awhile. Therefore, Monster Worldwide is considering strategic alternatives to boost shareholder value in the coming months to combat the extreme situation.

    Monster retainedStone Key Partners LLCand BofA Merrill Lynch as its financial advisors in connection with its renewal of strategic alternatives done previously. As per management, the review is still in infancy stage and the company will not provide additional details as of now.

    In January, Monster announced a series of cost savings initiatives amid uncertain global environment. These activities include a workforce reduction of approximately 400 associates, or 7% of its full-time staff on a global basis, consolidation of certain office facilities along with control in discretionary spending.

    Monster stated that the near-term priorities for the company includes executing on its share buyback program and return excess cash to shareholders, focusing on incremental growth opportunity with SeeMore and Government Solutions and implementing $100 million cost savings monster beats initiative to increase marketing campaign and sales efforts.

    The slowdown in the economy has adversely affected the company’s business. The company continues to be burdened by the cyclical weakness across its business, leading to a drastic decline in online recruitment.

    We continue to maintain a Neutral recommendation on the stock. Our recommendation is supported by Zacks #3 Rank, which translates into a short-term rating of Hold.

    Read the Full Research Report on MWW Zacks Investment Research

    Read the analyst report on MWW

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