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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Analysis
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.
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