Investment banking house Stifel Nicolaus maintained its hold rating on Monster.com (ticker MWW) , discounting any benefit MWW may have gained from an improved job economy worldwide.
Monster’s new ‘power-user’ offering that has gotten a lot of attention on bulletin boards like ERE also seemed to have no impact as it was not mentioned in Stifel’s 12/3 press release on Monster.
According to Stifel:
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- With temporary employment up for a third consecutive month in October and the initial claims four-week moving average steadily moving to the important sub-400,000 level, there is potential for nonfarm payrolls to begin growing in 1H10. However, there are remaining headwinds in the form of uncertainty surrounding the sustainability of the economic recovery and challenges facing the small/medium-sized business demographic, the main job growth engine in the U.S. We could get more constructive on our staffing/employment-related stocks, including Monster Worldwide, should evidence materialize that those factors are dissipating, all else being equal.
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