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Shares of Zynga Inc. (NASDAQ: ZNGA) plunged about 4.65% by afternoon trade. Morgan Stanley’s analyst Scott Devitt downgraded the social game maker’s stock to “underweight” from “overweight”. The research reports said that the popularity of its titles such as “FarmVille” “Poker” was fading fast as the competition was rising, adding that Zynga still relies far too heavily on Facebook Inc (NASDAQ: FB) to attract gamers. The research report said that company’s transition towards mobile gaming business will take some more time. Devitt thinks that Zynga might also slash more jobs in the futures, citing that it still employs more than required staff, which is weighing on EBITDA margin, the report added.
Continue reading Major Movers on June 21; ZNGA, ORCL, KMX, DRI, THRX
Social games developer, Zynga Inc. (NASDAQ: ZNGA) was downgraded to “underweight” from “equalweight” by Morgan Stanley on Friday.
Continue reading Zynga Shares Downgraded by Morgan Stanley (ZNGA)
Shares of Xumanii (OTC: XUII), a provider of online live content streaming services through its Website, xumanii.com, are up sharply in trading today. At last check, XUII shares were trading 5.10% higher at $0.210 on volume of 858,783. The stock hit an intra-day high of $0.23 earlier today.
Continue reading Micro-Caps in Focus; Xumanii (XUII), Medical Marijuana Inc. (MJNA), Vapor Corp. (VPCO)
Social networking giant, Facebook Inc. (NASDAQ: FB) launched a video feature for its immensely popular, photo-sharing app, Instagram in its headquarters in Malone, California, on Thursday. Continue reading Facebook Unveils Video Feature for Instagram (FB)
Micron Technology Inc, (NASDAQ: MU) plunged about 3.15% by afternoon trade. Across-the-board sell-off in U.S. equities on Thursday could be the only reason why Micron shares are sliding. The Company handed better-than-expected fiscal third quarter results on Wednesday. For the quarter, the company reported adjusted earnings of 4 cents a share on revenue of $2.32 billion while analysts’ consensus estimate was for earnings of 2 cents a share on revenue of $2.25 billion. On Thursday, at least five brokerage firms lifted their price target on Micron Technology’s shares. Continue reading Major Movers on June 20; MU, NOK, MSFT, GME, RAD, FNSR, WMGI
Wright Medical Group Inc. (NASDAQ: WMGI) announced on Wednesday that it has entered into a definitive agreement with MicroPort Medical B.V. under which MicroPort Scientific Corp, (a subsidiary of MicroPort Medical) will buy Wright’s OrthoRecon business in deal valued at $290 million.
Continue reading Wright Medical and MicroPort Medical Signs a Definitive Acquisition Deal for $290 million (WMGI)
Shares of African Copper Corp. (OTC: ACCS), a company engaged in the exploration and development of copper and other precious metal deposits in northwestern Botswana, are seeing a huge rally in trading today. At last check, ACCS shares were trading 34.81% higher at $0.182 on above average volume of 49.35 million. The stock hit an intra-day high of $0.19 earlier today. ACCS shares have gained more than 44.60% in the last three trading sessions.
Continue reading Micro-Caps on Watch; African Copper Corp. (ACCS), Pacific WebWorks Inc. (PWEB), Oriens Travel and Hotel Management Corp. (OTHM)
Finisar Corporation (NASDAQ: FNSR) said late last evening that its fiscal fourth-quarter net income slumped 78% as acquisitions related write-downs and charges offset the communication solution provider’s improved revenue growth and higher margin.
Continue reading Finisar Corp Provides Upbeat Q1 Earnings Guidance, Shares Rally in Afterhours (FNSR)
Adobe Systems Inc. (NASDAQ: ADBE) jumped about 6.50% by afternoon trade. Adobe Systems, which develops popular software such as Photoshop and Acrobat reported better-than-expected earnings for the fiscal second quarter and revenue which matched Street’s expectation., late on Tuesday In the recently concluded quarter, Adobe added 221,000 Creative Cloud subscribers and now has a subscribers base of 700,000.
Continue reading Major Movers on June 19; ADBE, ALU, TTEK, LZB, FDX
World’s largest logistic company, FedEx Corp. (NYSE: FDX) said on Wednesday that its fiscal fourth-quarter income fell 45% as continued weakness in the international package volume, restructuring charges and higher operating expenses, weighed on the bottom line.
Continue reading FedEx Beats Q4 Earnings Estimate but Outlook Cautious (FDX)
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