Stocks to Watch: Facebook, Zynga, Exxon, 3M
NEW YORK -- Facebook (FB), the social networking giant, is expected to post its quarterly results after Thursday's closing bell. It's the company's first-ever report as a public company.
Analysts expect Facebook to report a profit of 12 cents a share on revenue of $1.15 billion.
Facebook's IPO in May was a flop, but the real issue for analysts and investors is whether Facebook can generate meaningful revenue from its mobile platforms.
Facebook partner Zynga (ZNGA) on Wednesday reported a below-consensus quarterly profit and lowered its outlook. Zynga reported second-quarter earnings of 1 cent a share on revenue of $332 million. Analysts had expected the San Francisco-based company to generate 6 cents a share on $344.85 million in revenue. Regarding its fiscal 2012 outlook, the FarmVille maker cited a "a more challenging environment on the Facebook web platform." It now sees earnings of 4 cents to 9 cents a share. Wall Street analysts were looking for earnings of 27 cents a share. Zynga Plunges on Earnings Miss, Guidance
3M (MMM) is expected by analysts Thursday to post second-quarter earnings of $1.65 a share on revenue of $7.79 billion.
Exxon Mobil (XOM) is seen posting a decline in second-quarter earnings to $9.35 billion, or $1.95 a share, from $10.68 billion, or $2.18 a share, a year earlier.
Amazon.com (AMZN), the online retailing giant, is expected by analysts after Thursday's closing bell to report earnings of 2 cents a share on revenue of $12.89 billion. Apple Is Still Better Than Its Rivals
Other high-profile reports Thursday include Starbucks (SBUX) and United Technologies (UTX). Horizon Pharma: Rayos FDA Approval Thursday Seems Likely
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
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