Monster Worldwide Stock Drops on Monstrous 2Q Earnings Report

Monster Worldwide, the company behind the jobs site Monster.com, posted earnings that sent the shares down in Tuesday's session. Earnings of 8 cents a share were below estimates of 9 cents a share and last year's second quarter earnings of 12 cents a share. Revenues of $194.4 million was below estimates of $198.8 million and revenues of $200 million in the prior year's quarter. Monster also said it expects third quarter results to be at most 4 cents a share. However, Monster is trying to turn things around with three new product offerings in North America that Monster says has seen strong initial reception with customers. Monster Worldwide is down 19% since the beginning of the year. Whalen MacHale reports for TheStreet from New York.