This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Glu Jumps, Apple Axed: Tech Winners & Losers

Stocks in this article: GLUU AAPL ZNGA

(Updates from 1:59 p.m. ET with closing price information.)

NEW YORK ( TheStreet) -- Glu Mobile (GLUU) shares soared 20.24% to $2.91 after the social gaming company announced its first entry into real world gambling.

The San Francisco-based firm partnered with Probability to bring elements of Glu's popular Samurai vs. Zombies Defense to a gambling product.

"We are pleased to expand our mobile portfolio to include real-money gambling. We anticipate that real-money gambling will continue to gain momentum globally and believe that with this offering, Glu is well positioned to capitalize to the extent that additional markets adjust regulations," said Niccolo de Masi, Glu Mobile's CEO in the press release. "We plan to leverage Probability's extensive partner network to further extend Glu`s successful original IP to new demographics."

Conversely, Zynga (ZNGA) shares fell 4.76% to $3.74 as traders take profits on the other major social gaming company.

Shares of Zynga have surged this year, gaining 58.9%, lifted by hopes of an online gambling in the United States. In recent weeks, both Nevada and New Jersey have approved online gambling laws.

There's also been some recent speculation that Zynga would be acquired by Yahoo! (YHOO), something TheStreet first mentioned as a possibility last week.

Apple (AAPL) shares fell 1.46% to $431.48 after Jefferies analyst Peter Misek cut his earnings estimates on the technology giant.

Due to weak Asian supply checks and sell-through checks, Misek slashed fiscal second-quarter earnings estimates, and believes the likelihood of Apple missing guidance (25% probability) for its third quarter is higher than normal, given the state of the company right now. Misek cut his numbers for the quarter ending in March, as he now sees Apple earning $9.52 a share on $41.34 billion in revenue, down from $10.04 a share and $42.69 billion in sales. The Wall Street consensus from Thomson Reuters calls for earnings of $10.21 a share on $42.89 billion in sales.

"Our checks indicate Apple's suppliers are having problems with the new casing colors leading to a push out from Jun to Jul-Sep after Apple hoped to pull forward the update," Misek wrote in his note.

Closing prices: GLUU ended Tuesday up 16.9%, or 41 cents, to $2.83; ZNGA fell 5.1%, or 20 cents, to $3.73 and AAPL was lower by 2.2%, or $9.44, to $428.43.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs