Stocks to Watch: News Corp., Zynga, Kohl's

NEW YORK -- News Corp. ( NWSA) posted a quarterly loss of $1.55 billion, or 64 cents a share, after the media giant recorded a $2.9 billion write-down on its publishing assets.

Excluding the write-down, News Corp. earned 32 cents a share in the quarter, down from 35 cents a share a year earlier, but in-line with analysts' expectations.

Revenue declined 7% to $8.37 billion; analysts were calling for revenue of $8.78 billion.

News Corp. said in June that it planned to separate its struggling publishing business from its entertainment assets by next year.

Zynga ( ZNGA) Chief Operating Officer John Schappert, an industry executive who came from Electronic Arts ( EA), is resigning, effectively immediately, according to an 8-K filing from the San Francisco-based social gaming company.

Schappert also resigned from Zynga's board. He was a member of the mergers and acquisitions committee of the board.

Words With Friends: Zynga COO Says 'I Quit'

Sirius XM ( SIRI) shares jumped 7.6% Wednesday to $2.48 on news that Liberty Media will spin off the Starz cable network into a separate company, providing Liberty with more cash to pursue the satellite radio company.

Liberty Media owns more than 40% of Sirius' common shares.

Sirius also announced plans Wednesday to sell $400 million of debt, due in 2022.

Liberty Media May Pursue Sirius: Tech Winners & Losers

Retailer Kohl's ( KSS) is expected by analysts Thursday to post quarterly earnings of 96 cents a share on revenue of $4.21 billion.

Wendy's ( WEN), the fast-food chain, is expected by analysts to earn 5 cents a share in its latest quarter on sales of $647.9 million.

Brinker ( EAT), the restaurant company, is expected by analysts to post fiscal-fourth quarter earnings of 58 cents a share on revenue of $734.3 million.

-- Written by Joseph Woelfel

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