During Thursday’s current trade, Zynga, Inc. (NASDAQ:ZNGA)’s shares dipped -13.62%, and is now trading at $2.51, as Zynga Founder Mark Pincus returns as CEO. Pincus will take over the position of CEO from Don Mattrick, who resigned from the role on Wednesday after less than two years. Mattrick was the head of Microsoft’s (MSFT) Xbox division before joining Zynga in 2013.
“Now that we are a mobile first corporation, it’s time to renew our focus on our founding mission to connect the world through games and our vision to make play and social games a mass market activity,” Pincus said in a statement.
UBS reiterated its “buy” rating and $4 price target for Zynga.
Zynga Inc. develops, markets, and operates online social games as live services played on the Internet, social networking sites, and mobile platforms in the United States, Asia, and Europe.
Alcoa Inc. (NYSE:AA)’s shares dropped -5.15% during the current trading session Thursday, and is now trading at $12.96, after Lightweight metals leader stated strong first quarter 2015 profits. The Corporation’s strategy of building its value-add portfolio and creating a globally competitive commodity business is delivering results.
Alcoa stated first quarter 2015 net revenue of $195 million, or $0.14 per share, counting $158 million in restructuring-related charges (about 90 percent non-cash), mostly to optimize the Corporation’s portfolio. Year-over-year, first quarter 2015 results compare to a net loss of $178 million, or $0.16 per share.
Not including the influence of all special items, first quarter 2015 net revenue jumped to $363 million, or $0.28 per share, from $98 million, or $0.09 per share, in the year-ago period.
First quarter 2015 proceeds rose 7 percent to $5.8 billion, from $5.5 billion in first quarter 2014. The proceed raise resulted principally from organic growth, driven by strong automotive and aerospace volume. Positive market effects in the quarter were offset by capacity reductions and portfolio changes.
“First quarter results show our transformation is moving at ongoing high speed and is fully on course,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. “We are organically and inorganically broadening our innovative, multi-material value-add businesses, bringing new capabilities and materials to our aerospace and automotive offerings, and taking swift action in the upstream, making it more competitive. We are pulling on all levers to create sustainable shareholder value.”
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The corporation operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
During mid-morning trade, Rite Aid Corporation (NYSE:RAD)’s shares declined -4.28%, and is now trading at $8.49, as Rite Aid stated fourth-quarter results above Wall Street estimates Wednesday, boosted by strong prescription sales, but it guided full-year EPS below expectations.
The drugstore operator said Q4 earnings doubled to 12 cents per share, assisted by a tax benefit. Analysts polled by Thomson Reuters were only expecting 7 cents. Proceed rose 3.8% to $6.85 billion, topping estimates for $6.79 billion.
The corporation anticipates adjusted EBITDA for fiscal 2016 to range from $1.250–$1.350 billion. Also, administration now envisions fiscal 2016 earnings in the range of 19–27 cents a share.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The corporation sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other everyday and convenience products.
Altera Corp. (NASDAQ:ALTR), during its Thursday’s current trading session gained 0.18%, and is now trading at $42.11, after a semiconductor corporation will offer a host of Ultra HD end-to-end solutions demonstrations at the 2015 National Association of Broadcasters convention (NAB) from April 13 to 16, in Las Vegas, at the Las Vegas Convention Center (Altera booth #SU10707). Featured for the first time will be the Altera multichannel, real-time H.265 hardware codec delivering a high quality full HD experience by implementing the Altera H.265 IP on a single chip with unprecedented quality and efficiency.
Altera will demonstrate how equipment makers can implement Ultra HD (UHD) products recently with 4K resolution, deeper color, and higher frame rates. Together with Oregano Systems, Altera is among the first vendors to offer a fully SMPTE-compliant sync solution, anticipating SMPTE’s imminent declaration of the publication of its time-labeling and clock synchronization standards, ST2059-1 and ST2059-2, critical to delivering IP-based video transport.
Altera Corporation, a semiconductor corporation, designs and sells programmable logic devices (PLDs), HardCopy application-specific integrated circuit (ASIC) devices, power system-on-chip devices (PowerSoCs), pre-defined design building blocks, and associated development tools.
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