Stocks BUZZING Before the Bell: Zynga FAILS to Impress, Bristol-Myers’ Buyback
Zynga Inc. (NASDAQ:ZNGA) shares are edging lower before Wednesday’s opening bell, having closed nearly 5 percent lower during regular trading Tuesday. Investors were unimpressed by the company’s new feature called “Zynga with Friends.” It aims to reduce Zynga’s reliance on Facebook and connect gamers across multiple platforms.
Facebook (NASDAQ:FB) shares continued to rally 3 percent higher on Tuesday, yet are down 2.48 percent in pre-market trading this morning. The social media company announced that chief operating officer Sheryl Sandberg is joining its board of directors. “Sheryl has been my partner in running Facebook and has been central to our growth and success over the years,” said CEO Mark Zuckerberg said in a press statement. “Her understanding of our mission and long-term opportunity, and her experience both at Facebook and on public company boards makes her a natural fit for our board.”
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Shares of Bristol-Myers Squibb Co. (NYSE:BMY) increased 0.70 percent in late trading Tuesday evening are expected to rise after the big pharma company announced an additional $3 billion share repurchase program, in addition to its $3 billion buyback program it launched in 2010. It still has around $340 million remaining on the original buyback program.
Apple Inc. (NASDAQ:AAPL) shares posted modest gains on Tuesday, and continue to edge slightly higher in pre-market trading this morning. Orbitz Worldwide Inc. (NYSE:OWW) announced it has found that people who use Apple Mac computers spend as much as 30 percent more per night on hotel rooms, when compared to Microsoft Corp. (NASDAQ:MSFT) Windows users. Thus, the travel agency is beginning to show Mac users more expensive options when viewing travel accommodations.
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