NEW YORK ( TheStreet) -- Zynga (ZNGA - Get Report) shares jumped 6.3% to $14 in late afternoon trading on Thursday after the FarmVille creator launched its own gaming platform outside of Facebook. The social gaming company had been criticized by some investors by relying too much on Facebook, which takes 30% of all revenue generated through Zynga's titles.
Apple (AAPL - Get Report) shares edged up 0.1% to $542.68 after company co-founder Steve Wozniak said the iPhone maker could hit $1,000 a share. Apple shares have risen sharply in 2012, gaining 34.9% year to date, and are up 56.4% over the past year.
Fusion-io (FIO) shares soared 8.7% to $29.67 after Credit Suisse reinstated coverage of the company with an outperform rating and a $50 price target. The firm believes Wall Street's expectations of the company's calendar year 2012 revenue are too low at $386.9 million and believes it has potential to build up to $563 million.
Research In Motion (RIMM) shares sank 4.7% to 13.51 after a Jefferies analyst said the company will likely miss estimates for its fiscal fourth quarter, which ends in February, due to low BlackBerry sales. The company's handset sales continue to be battered by rivals Apple and Google (GOOG).--Written by Olivia Oran in New York.
>To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: firstname.lastname@example.org.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts