NEW YORK (
shares cratered Monday, tumbling 4.50% to $77.12.
William & Blair analyst Bhavan Suri reiterated his "outperform" rating, as the virtualization software company reports second-quarter earnings Wednesday. Suri is looking for $2.75 per share in non-GAAP earnings on revenue of $2.54 billion.
"We expect the company to announce healthy second quarter results, slightly beating top line and bottom line expectations. While the economic environment continued to deteriorate over the course of the quarter, we believe the company did not witness significant weakness in demand and therefore should exceed expectations," he wrote in a note to clients last week.
was a rare bright spot on the
on Monday, climbing 6.46% to $4.82, as investors anticipate the gaming company's second-quarter earnings, released after closing bell. Analysts surveyed by
expect Zynga to report revenue of $344.85 million and earnings of 6 cents a share for the quarter.
The stock has dropped over 45% since the beginning of the year.
, where Zynga generates most of its revenue, fell 0.90% to $28.43 on Monday, outpacing the
last week that the number of Facebook users decreased 1.1% over the past six months. The social network reports its second-quarter earnings on Thursday, its first report since becoming a public company.
--Written by Nathalie Pierrepont in New York.
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