Zynga Inc(NASDAQ:ZNGA) stock surged 13.90% to $2.43 in the opening session after the company reported a third-quarter net loss of $53 million or $0.07 per share, as compared with net income of $13 million or breakeven earnings per share last year.
Adjusted loss for the quarter was $0.4 million or nil per share, as compared with net income of $32 million or $0.04 per share a year ago. Revenues for the quarter rose to $317 million from $307 million in the prior year. Analysts expected a loss of $0.01 per share on revenue estimate of $256.43 million for the quarter.
Separately, investors are also cheering the company’s surprise announcement of a $200 million buyback program.
Whiting Petroleum Corp(NYSE:WLL) shares declined 0.48% to $43.47 after the company reported third-quarter net income of $82.9 million or $0.70 per share, as compared to $206.0 million or $1.74 per share in the same quarter last year. Adjusted net income was $86.9 million or $0.73 per share. Total revenues grew 9% to $530.5 million from $487.6 million in the same quarter last year. Analysts expected earnings of $0.78 per share on revenue of $521.61 million for the quarter.
Wynn Resorts, Limited(NASDAQ:WYNN) stock gained 3.35% to $116.05 after the company’s third quarter net income fell to $112 million, or $1.11 per share, as compared with net income of $127.1 million, or $1.01 per share, a year earlier. Adjusted earnings amounted to $1.48 per share. Analysts expected $1.32 per share. Revenue was flat at $1.3 billion, in line with expectations.
XenoPort, Inc.(NASDAQ:XNPT) reported third quarter loss of $16.80 million or $0.41 per share, as compared to a loss of $18.80 million or $0.53 per share in the same quarter last year. Revenues for the quarter remained flat at $0.4 million, compared to $0.4 million a year ago. Analysts expected a loss of $0.43 per share on revenues of $2.26 million for the third quarter.
Best Buy Co., Inc.(NYSE:BBY) shares declined 6.15% to $15.88 after the company issued a broad warning about its third quarter results. Best Buy said its earnings will be "significantly below" the same 2011 period. The company said comparable store sales would decline in between 3.2% to 5.3%. BBY also projected its gross margin would decline 1%. The company will release results Nov. 20.