Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of United Online (NASDAQ: UNTD ) have plunged today by as much as 12% after the company reported first-quarter earnings.
So what: Revenue in the first quarter added up to $247.4 million, topping the Street's forecast of $243.4 million. Adjusted earnings per share were $0.16, right on target with analysts' best guesses. The company is proceeding along its plan to spin off the FTD business as an independent, publicly traded company.
Now what: CEO Mark Goldston said he would be leaving the company following the spin-off after 14 years as CEO. That revelation has created substantial uncertainty for United Online and FTD, which could be rattling investors. The United Online board will be searching for a new CEO once the spin-off is complete, and FTD President Rob Apatoff will become FTD's CEO.
Interested in more info on United Online? Add it to your watchlist by clicking here.
It's incredible to think just how much of our digital and technological lives are almost entirely shaped and molded by just a handful of companies. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks?" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged by the five kings of tech. Click here to keep reading.
No comments:
Post a Comment