NEW YORK (TheStreet) -- King Digital Entertainment (KING) plunged by double digits after a decline in monthly unique users and analyst downgrades. Twitter (TWTR) - Get Report jumped on an analyst report that the micro-blogging site is expected to announce a new CEO as early as next week. Applied Materials (AMAT) - Get Report fell sharply after missing analysts' revenue estimates and earnings forecast. 


King Digital Entertainment plunged 11.1% to close at $13.52 on a day when the broader markets advanced.

The maker of the popular Candy Crush digital game took a beating after two analysts downgraded the stock, following the company's second quarter earnings release.

RBC Capital Markets downgraded King Digital to sector perform from outperform, while J.P. Morgan cut its recommendation to neutral from overweight, according to a Briefing.comreport

JP Morgan also cut its price target on King to $17 a share from $20 per share, after the company's quarterly results. 

The game maker reported its second-quarter adjusted gross bookings fell 6%, which beat analysts' estimates but did not reverse investors concerns that it could grow its bookings, according to a Reutersreport. Bookings serve as an indicator of future revenue, according to the report.

Additionally, King's monthly unique users (MUUs) continued to fall. It dropped 1% to 340 million in the second quarter over year ago figures and was down 7% from the previous quarter, according to Reuters. The company attributed the drop, which was largely attributed to its Web games, to an overall decline in Facebook (FB) - Get Report desktop users.

Twitter jumped 1.9% to finish the day at $29.07.

The micro-blogging site advanced following an analyst report that founder and interim CEO Jack Dorsey is expected to be named permanent CEO as early as next week. 

Analyst Robert Peck, with SunTrust Robinson Humphrey, expects Dorsey will lead the company as part of a three-way triumvirate leadership team that will include Adam Bain, Twitter's top executive for products, and co-founder and board director, Evan Williams, according to a Barron'sreport.

In the Barron's report, it cites Humphrey as writing in his report:

At this time, we still expect Jack Dorsey to remain as CEO of Square as well. It is unclear how institutional investors will react to a permanent CEO who is also the CEO of a pre-IPO company. However, given the complexity of Twitter's turnaround and product road map, this Triumvirate structure may be the best solution. Further, more involvement by Mr. Williams may stem his large share sales. We also acknowledge recent executive purchases of stocks, including the CEO and CFO. As a replacement for Bain's current role, we have heard strong accolades for Richard Alfonsi (a former Googler and VP of Global Online Sales at Twitter since 2012).

Wall Street is awaiting a Square IPO, which the company filed under a confidential IPO, according to Bloomberg.

Applied Materials fell 2.4% to end the session at $16.64.

The company, which engineers materials for the semiconductor industry, took a hit after posting disappointing third-quarter revenue and issuing a lower-than-expected fourth-quarter earnings forecast.

Applied Materials posted earnings of 33 cents a share on revenue of $2.49 billion. Although the earnings were in line of what Wall Street was expecting, revenue fell short of the $2.54 billion analysts were anticipating.

For the fourth quarter, Applied Materials expects to earn 27 cents to 31 cents a share, but analysts had been anticipating 33 cents a share.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.