Radar Movers: Zynga and Groupon Finish Week on Low Note
Shares of Zynga (NASDAQ:ZNGA) closed more than 6.0 percent lower on Friday and continue to edge lower in late afternoon trading. In an effort to ease the conditions of a deal signed in 2010 and become less dependent on Facebook (NASDAQ:FB), Zynga disclosed in a Securities Exchange Filing that it will essentially be treated like other app developers. Facebook will no longer require the social gaming company to launch games on Facebook’s platform.
Apple (NASDAQ:AAPL) shares edged 0.70 percent lower on Friday, despite more signs of supply improvement in the iPhone 5. The tech giant has started offering factory-unlocked versions of the iPhone 5 through its U.S. web store, a fairly clear indication of the smartphone’s improved supplies. The phone has been priced between $649 for the basic 16 GB model and $849 for the high-end 64 GB version, with all units seeing estimated shipping times of one week.
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While speculation continues to build over a special dividend from Microsoft (NASDAQ:MSFT), the company’s latest operating system is receiving a luke-warm reception to say the least. Microsoft launched Windows 8 on October 26 in the United States, but it is off to a slow start. Windows device sales dropped 21 percent between October 21 and November 17, compared to the same period last year, according to leading market research company The NPD Group’s Weekly Tracking Service.
Shares of Groupon (NASDAQ:GRPN) bounced 0.60 percent in late afternoon hours, after plunging nearly 9.0 percent during regular trading. As it turns out, the company’s board has no immediate plans to replace chief executive officer Andrew Mason.
Investor Insight: Does Microsoft Need More Time to Prove Windows 8 Successful?