Zynga (ZNGA - Get Report), the social gaming company, forecast a loss for the third quarter and lowered its full-year outlook. Zynga said it expects a loss of 12 cents to 14 cents a share for the September-ended quarter with its non-GAAP per share performance coming in either breakeven or a loss of a penny a share. Wall Street's current consensus view is for a breakeven performance. Zynga projected third-quarter revenue in a range of $300 million to $305 million. For the year, the company dropped its expectations to bookings of $1.085 billion to $1.100 billion from a prior view of $1.150 billion to $1.225 billion. "The change in outlook is primarily due to reduced expectations for certain Web games including The Ville, and delays in launching several new games," Zynga said in a statement on Thursday. Zynga Slammed as It Cuts Its Guidance...Again
JPMorgan Chase's (JPM - Get Report) Barry Zubrow, the bank's regulatory affairs chief, is expected to give up his job, The Wall Street Journal reported. The change is the latest reshuffling at the bank following the multibillion-dollar derivatives trade that went bad back in May. It's possible that Zubrow will remain with the company in an advisory role, said people close to JPMorgan.
Morgan Stanley (MS) is in talks to sell a piece of its commodities-trading unit to a sovereign wealth fund from Qatar, a move that could help it avoid being hit by new proprietary trading rules, the Journal and other media outlets reported.
Constellation Brands (STZ - Get Report), the N.Y.-based alcohol seller, is expected by analysts Friday to post fiscal second-quarter earnings of 54 cents a share in the August-ended period on revenue of $710.1 million. Time for Sirius to Get Serious About Earnings
-- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel