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Zynga Inc. (NASDAQ:ZNGA): Yesterday, Wedbush Securities believes that Zynga’s sell-off was overdone and that the company’s shares have bottomed with new game launches as a way to sustain subscriber user growth. The firm believes that increased spending on older games and the maturity of 2011 releases will lead to improved 2H 2012 monetization. Wedbush gives the shares an Outperform rating with a price target of $17. On an Analyst/Industry conference call being held June 22 at 2 pm, Internet Softwar & Services Mark May intends to discuss the outlook for legalized online gaming in the U.S. According to Morgan Stanley. comScore released May 12′s worldwide traffic data this morning, showing Zynga’s unique visitor growth of 115% month over month, reaching 20.1M.
Oracle Corporation (NASDAQ:ORCL): Last evening, Oracle reported fourth quarter adjusted earnings per share of $.82 cents versus the analyst consensus of $.78 cents. Also, the company delivered fourth quarter revenue of $10.9 Billion versus the analyst consensus of $10.89 Billion. Oracle President Mark Hurd shared, “Our engineered systems business is now operating at well over a billion dollar revenue run rate.” Shares are up 3.54% after reporting earnings Monday after the bell.
Citigroup Inc. (NYSE:C) claimed that emerging markets are still growing, but Pandit sees emerging markets slowing due to European issues. Pandit sees the Greek election as a positive for the euro. While speaking on CNBC, Citigroup CEO Vikram Pandit claims that the company is still selling-down Citi Holdings. Pandit does not believe capital markets will improve in the near future, but he also states that Citigroup’s exposure in Europe is “extremely manageable.”
General Electric Company (NYSE:GE) announced its supplying of Japan steel producer JFE Steel with a heavy duty Frame 9E gas turbine system intended for the steel gas-to-energy recovery project at GE’s East Japan Iron Works located in Chiba City. The installment of the 9E gas turbine and a GE-designed 9A5 generated and all associated equipment at JFE’s new power plant will be taken care of by engineering, procurement, and construction contractor Toshiba Plant Systems and Services Corp.
Nokia (NYSE:NOK): According to an ABI Research report released on Friday, Nokia’s 8% share of the global smartphone market in Q1 of the year significantly trailed the 50% combined share of Apple (NASDAQ:AAPL) and Samsung Electronics (SSNLF). According to R.W. Baird’s William Power, Nokia will have a bit more than $1 per share in net cash by the conclusion of the June quarter. Nokia attempts to sell new phones based on Microsoft’s (NASDAQ:MSFT) Windows operating system. The failure of its dated, non-Windows phones may possibly decrease cash per share to as low as 40c by the end of the year.
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