U.S. stocks are posting solid gain in Thursday’s session after European Central Bank President Mario Draghi pledged to preserve the euro. The 17- nation currency strengthened against the dollar by the most in almost a month. Following are notable movers by midday session:-
Zynga Inc (NASDAQ:ZNGA) is experiencing a worst day with a loss of 39% since the company went public in December 2011. Investors are winding their positions and heavy short selling is witnessing in the stock after the online game provider reported dismal quarterly earnings and trimmed its full earnings outlook, stating that users on Facebook Inc(NASDAQ:FB) have been switching more to mobile, which has slow down its gaming users. The company generated 100% of its revenue from Facebook’s platform. Recently, the company had announced to launch its own platform, but it is still under beta version and is yet to monetize.
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The company reported second quarter loss of $22.8 million or three cents per share compared to profit of $1.4 million or about break even on a per-share basis. Adjusted earnings were five cents per share and revenue bookings increased 10% to $302 million. However, analysts expected adjusted earnings of five cents per share and about $344.1 million in bookings. The Company expects adjusted earnings of four cents to nine cents a share, with bookings of $1.15 billion to $1.23 billion for the year. The decrease in estimates is due to a faster decline in existing web games due to a more challenging environment on Facebook Inc and reduced expectations for its "Draw Something" game.
NovaGold Resources Inc. (USA) (AMEX: NG) declined 23.61% to $4.11. Recently, the Company announced second quarter profit of 26 cents per diluted share compared to profit of $24.6 million or loss of a penny per diluted share in the prior year period. NovaGold signed a deal to sell its troubled Rock Creek property in Nome, Alaska, to Bering Straits Native Corp.
Strayer Education Inc (NASDAQ:STRA) went down 12.49% to $79.37 after the Company released second quarter results. Revenues decreased 11% to $146.3 million due to lower enrollment. Income from operations was $36.2 million compared to $50.1 million in the prior period. Operating income margin was 24.7% compared to 30.6% in the previous year quarter. Net income was $21.2 million compared to $29.6 million in the same period of 2011. Diluted earnings per share were $1.85 compared to $2.53 for the same period in 2011.
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Glu Mobile Inc (NASDAQ:GLUU) moved down 12.97% to $4.64. The stock opened at $4.99. The 52-week range of the stock $1.80 and $5.90.The Company has Price/Sales ratio of 4.81 and Price/Book ratio of 7.69. The 50-Day Moving Average and 200-Day Moving Average prices is $5.12 and $4.35 respectively.
ITT Educational Services Inc (NYSE:ESI) plunged 10.31% to $45.23. The Company posted second quarter revenue of $329.8 million compared to $387.9 million in the prior year period. New student enrollment decreased 9.5% to 15,698. Total student enrollment declined 15.7% to 66,397 as of June 30, 2012. Net Income was $46.0 million compared to $79.0 million in the prior year period. Earnings per share were $1.96 versus $2.85 per share in the prior year period.