Zynga Lays Off 100+ and 2 Stocks Falling to 52-Week Lows
Travelzoo Inc (NASDAQ:TZOO): Travel booking companies selling Hawaii hotel rooms online are not required to pay the state hotel room tax, reports the Honolulu Star Advertiser, citing a ruling from a state judge, which means that the state will lose almost $700 million in transient accommodations taxes it assessed to Expedia (NASDAQ:EXPE), Orbitz (NYSE:OWW), Priceline (NASDAQ:PCLN), and other online travel companies for the tax years 1999 through 2011. The shares closed at $18.03, up $0.16 or 0.9% on the day. They have traded in a 52-week range of $17.60 to $34.95.
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Xerox Corp. (NYSE:XRX) earned $594 million in cash from operations and will likely deliver full-year operating cash flow reaching $2 billion to $2.3 billion as well as repurchasing $900 million to $1.1 billion in Xerox stock during the year. The shares closed at $6.67, down $0.36 or 5.12% on the day. They have traded in a 52-week range of $6.36 to $8.84.
Zynga Inc. (NASDAQ:ZNGA) recently laid off more than 100 employees from its Austin office, reports TechCrunch, citing Justin Maxwell, who is a former Apple (NASDAQ:AAPL) and Smule employee. The laid off Zynga employees worked on the company’s Bingo and TheVille teams, and were only given two hours to clean out their desks, the website also mentioned. The shares closed at $2.20, down $0.12 or 5.17% on the day. They have traded in a 52-week range of $2.21 to $15.91.