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Zynga Announces 18 Percent Layoff of Workforce as Shares Plummet, Analysts Defend the Stock
Tuesday, June 4, 2013 - 10:09am | 559Read More...Mobile app maker Zynga (NASDAQ: ZNGA) Monday announced that it was reducing its head count by about 18 percent and closing offices in an attempt to reduce costs. The company has been fighting stagnating revenue and is cutting costs to boost profitability. Shares tumbled 12 percent on the news....
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Does Zynga's Collapse Suggest Social Gaming is a Fad?
Friday, October 5, 2012 - 3:25pm | 524Read More...Shares of social media gaming company Zynga (NASDAQ: ZNGA) traded down over 18 percent on Friday, after the company cut its guidance for the year Thursday evening. Zynga lowered its guidance for fiscal year EBITDA to $147-162 million -- it had previously seen $180-250 million. It also lowered the...
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Zynga Finds it Difficult to Go Mobile
Monday, August 6, 2012 - 11:19am | 474Read More...Struggling online game creator Zynga (NASDAQ: ZNGA) is reassessing its business model. Chief Executive Officer Mark Pincus told The Wall Street Journal, “I think that there's an opportunity on mobile for there to be a connector of these experiences.” Zynga's second quarter results revealed a...
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Hudson Square Says Zynga's Acquisition is a Positive Move
Thursday, March 22, 2012 - 8:48am | 101Read More...In a research report published today by Hudson Square, Zynga Inc. (NASDAQ: ZNGA) made a good move by acquiring “Draw Something” game developer OMGPOP. According to Hudson Square, “While financial terms were not disclosed, we see the move as a positive: 1) The OMGPOP team is well regarded and...
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Sterne Agee: Zynga's New Deal Looks Expensive
Thursday, March 22, 2012 - 7:33am | 120Read More...In a research report published earlier today, Sterne Agee noted that Zynga Inc.'s (NASDAQ: ZNGA) acquisition of OMGPOP is interesting, yet looking to be expensive. According to Sterne Agee, “ZNGA's acquisition of OMGPOP, creator of Draw Something (currently the top free/paid App for iPhone/iPad),...
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Piper Jaffray: Zynga Playing Defense with OMGPOP Acquisition
Thursday, March 22, 2012 - 7:28am | 156Read More...In a research report published today, Piper Jaffray said Zynga Inc.'s (NASDAQ: ZNGA) new deal with OMGPOP has shed light on a complicated strategy. According to Piper Jaffray, “Yesterday Zynga announced the acquisition of OMGPOP, the maker of "Draw Something" (a.k.a. Draw). We estimate OMGPOP is...
