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Just like Pictionary, the popularity of Zynga Inc.’s (NASDAQ:ZNGA) social media drawing game Draw Something appears to have quickly lost its allure. The app’s iTunes App Store rank is taking a tumble. The fall has investors questioning Zynga’s acquisition of OMGPOP, the gamemaker behind Draw Something. Zynga saw its shares dip downward $0.03 in recent trading to $8.93.
Hulu — the video-streaming outpost in direct competition with your DVR for love and affection — may be gaining a new content partner. On Tuesday, CBS Corp. (NYSE:CBS) announced it was interested in a potential deal with the site. Hulu, which is a joint venture between The Walt Disney Co. (NYSE:DIS), News Corp. (NASDAQ:NWS), and Comcast (NASDAQ:CMCSA), recently revealed plans to have users confirm a subscription for paid cable services before giving them access to the site’s free content. This new plan is likely the source of Disney’s interest in hooking up with Hulu. Disney shares remain steady, trending up slightly by $0.16 to $43.70.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) appears to be experiencing its own caffeine crash. The Vemont-based coffee purveyor saw its shares diving 37% after revenue for the second-quarter fell short of analyst predictions. Green Mountain reported sales of $885 million for the quarter, falling well short of the $972 million expected by analysts. The company also announced it was taking a grinder to its earnings forecast for the year, downgrading to $2.50 a share from a previous forecast of $2.65. It wasn’t all bad news for Green Mountain. Earnings per share for the quarter beat expectations by a penny, coming in at $.64 per share. However, this small window wasn’t enough to stave off a stock drop. And, the downward trend continued this morning, with shares falling to $20.72, or 41.84% lower than the $28.80 they were holding in recent trading.
Apparently, Sara Lee Corp. (NYSE:SLE) has interesting news for forthcoming quarters of this year. The maker of your favorite cheesecake is reporting that commodity costs for Meat Co. and Coffee & Tea Co. will bring nothing but gains in the fourth quarter, with lower raw materials costs having a positive impact on pricing. For the full year, Sara Lee expects total significant costs to come in at $550 million, while the spin-off of the subsidiary that houses Coffee & Tea will result in the reversal of $700 million of deferred tax liabilities currently on the books. The full year tax rate is expected to be approximately 33%, with net interest expenses tracking at around $65 million. Sara Lee was down slightly in recent trading, falling by $0.53 to $21.79.
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