Stocks to Watch: Zynga, Facebook, Zumiez, Splunk
NEW YORK -- Zynga (ZNGA) and Facebook (FB) modified the terms of their partnership.
Zynga shares fell 12% in after-hours trading Thursday after the company disclosed in a regulatory filing that it will no longer have to display Facebook ads or use Facebook payments on its own Zynga.com properties. Facebook will be permitted to develop its own games under the new partnership.
The Digital Skeptic: Facebook Has Many Mouths to Feed in Global Market
Zumiez (ZUMZ) shares tumbled after the specialty retailer gave a disappointing outlook on Thursday and quarterly revenue came in below analysts' forecasts.
Splunk (SPLK), the software company, saw its shares rise in after-hours trading, helped by strong revenue growth. Splunk generated $52.05 million in third-quarter revenue, up 67% from a year earlier. On a non-GAAP basis, Splunk posted a loss of 1 cent a share. Analysts were looking for a loss of 2 cents a share on $46.67 million in revenue. Splunk also gave fourth-quarter revenue guidance on Thursday that was above Wall Street estimates. Splunk Shares Rise on Bullish Forecast
Earnings are expected Friday from Genesco (GCO), Johnson Outdoors (JOUT) and United Natural Foods (UNFI).
Citigroup's (C) trading and investment-banking division plans to cut 150 more jobs and shrink bonuses by as much as 10%, Bloomberg reported, citing two people with direct knowledge of the decisions. 3 Companies That May Pay the Next Special Dividend
-- 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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