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TMP Worldwide (Nasdaq: TMPW) slipped 44 U.S. cents to $47.01 Monday morning despite an analyst upgrade and a company statement touting the success of the company's flagship Web site, Monster.com.
Deutsche Banc Alex. Brown reportedly raised its rating on TMP to strong buy from buy.
The upgrade came as the company said job-search site Monster.com now holds 10 million resumes and has reached 15 million job-seeking members. TMP said that Media Metrix ranks the Web site as the most popular destination for job seekers. Nielsen//NetRatings found the site to be the most visited commercial career site in France, the UK, Germany and The Netherlands, according to TMP.
In May, TMP said, Monster.com "maintained its stronghold," with an average of 30.1 page views per unique user.
"Despite the slowing of the U.S. economy, Monster.com has continued to grow and diversify its products and offerings both to job seekers and the employers, including the recent acquisition of HiringTools.com," said Monster.com chief executive Jeff Taylor.
Earlier this month, Monster.com bought HiringTools, a Web-based human resources software maker.
TMP said Monster.com has expanded its offerings overseas, allowing nonmember companies to post jobs on its sites in the UK, Canada, France, Germany, Belgium, The Netherlands, Ireland and Spain. The company also said its "Post-a-Job" plan "lays the groundwork for future e-commerce projects on Monster.com."
On May 8th, TMP reported what it called "outstanding" results, with earnings
per share rising 38 percent from a year earlier to 18 cents. The gain was
fueled in part by the strength of Monster.com, the company said.
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