Bulletin
Investor Alert

Market Pulse Archives

Aug. 5, 2019, 8:44 a.m. EDT

UPDATE: Cars.com stock slides 34% premarket after company says review found no actionable bids

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Cars.com Inc. (CARS)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane

Cars.com Inc. shares /zigman2/quotes/210492562/composite CARS +1.52% tumbled 34% Monday after the company said its board has completed a strategic review without receiving any actionable bids and will now work to execute a plan to drive growth. The review was first announced on Jan. 16 and came after a push from activist shareholder Starboard Value. "After consultation with our financial and legal advisors, the Board has concluded that the best interests of shareholders are served by continuing to focus on our strategic plan and opportunities to drive growth and shareholder returns as an independent public company," the digital marketplace for cars said in a statement. "We remain open to all potential value creating opportunities." Shares have fallen 17% in 2019 through Friday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.05% has gained 17%.

Read the full story:
Cars.com stock battered as review yields no deal and guidance falls short of estimates

/zigman2/quotes/210492562/composite
US : U.S.: NYSE
$ 12.02
+0.18 +1.52%
Volume: 1.33M
Feb. 21, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$802.48 million
Rev. per Employee
$472,948
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,337.75
-35.48 -1.05%
Volume: 2.12B
Feb. 21, 2020 5:16p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.