Chief executive officer of AOL, Inc’s (NYSE:AOL) local-news division Patch Jon Brod is departing from the position and will return to AOL Ventures, the investment business.
AOL chief executive officer Tim Armstrong reported in an internal memo obtained by Bloomberg News that Patch’s chief operating officer Steve Kalin will replace Jon Brod.
A person with knowledge about the plans who refused to be identified as the plan is still private stated that the New York based AOL is also lowering 40 of its 1,400 employments.
AOL has spent over $300 million to develop Patch, which below $40 million previous year, failing to meet its sales target by around 25%, according to Armstrong.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. CBS Corporation (NYSE:CBS) rose +3.97% to settle at $51.53, Marchex, Inc. (NASDAQ:MCHX) moved up +4.38% to end at $5.96 while IAC/InterActiveCorp (NASDAQ:IACI) jumped +0.59% to finish at $51.25 on Friday.
AOL, Inc. (NYSE:AOL) last session’s volume of 709,005 shares was surprisingly lower than its average volume of 1.26 million shares. The stock after opening at $37.37 hit high price of $37.53 and then closed at $37.16 by scoring -0.51%.
The liquidity measure in recent quarter results of the company was recorded 2.00 as current ratio and on the other side the debt to equity ratio was 0.05 and long-term debt to equity ratio remained at 0.02. The Company had total cash of $467.80 million at hand and a book value per share as $28.17 in the most recent quarter.
The stock’s price volatility was 2.01% for a week and 2.76% for a month as well as price volatility’s Average True Range for 14 days was 1.11 and its beta remained at 0.89.
AOL generated revenue of $2.20 billion in the previous twelve months and earned $1.05 billion. The Company showed a positive 47.82% in the net profit margin as well as in its operating margin which remained at 55.46%. Company’s annual sales growth for the past five years was -15.81%.
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