NEW YORK (TheStreet) -- Shares of Monster Worldwide (MWW) were gaining 16.4% to $4.25 Tuesday after the staffing and outsourcing services company named a new CEO and beat analysts' estimates for earnings in the third quarter.
Monster Worldwide announced that Timothy Yates will take over as the company's CEO, effective immediately. Yates will take over the role from Salvatore Iannuzzi who resigned from the position. Iannuzzi will remain with the company as a director and chairman of the board.
Earlier Tuesday Monster Worldwide reported earnings of 5 cents a share for the quarter, beating the Capital IQ Consensus Estimate of 3 cents a share by 2 cents. Revenue grew 2.8% from the year-ago quarter to $191.2 million, compared to analysts' estimates of $189.89 million.
TheStreet Ratings team rates MONSTER WORLDWIDE INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MONSTER WORLDWIDE INC (MWW) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and poor profit margins."
You can view the full analysis from the report here: MWW Ratings Report