NEW YORK, NY / ACCESSWIRE / August 3, 2017 / Better-than-expected earnings from tech giant Apple Inc. pushed the Dow Jones above the 22,000 mark for the first time ever Wednesday. The Dow Jones Industrial Average gained 0.24 percent to close at 22,016.24, its seventh consecutive record close. The S&P 500 Index increased 0.05 percent to close at 2,477.57, while the NASDAQ Composite closed flat for the day at 6,362.65. The Dow went from the 21,000 plateau to past the 22,000 threshold in just 107 trading days.

"People are saying the move has been overdone, but they've been saying that for a while," said Brian Jacobsen, Chief Portfolio Strategist at Wells Fargo Funds Management. "Valuations do look stretched relative to historical norms, but investors are looking a little farther out, and valuations don't look that bad in that context."

"Overall, earnings have been coming in good this season, with stocks beating on revenue and profits," Jacobsen said. "The fact that the market is still reacting to that in a positive way tells me that stocks aren't in a bubble, that there's fundamental support."

RDI Initiates Coverage on:

Glu Mobile Inc.
https://ub.rdinvesting.com/news/?ticker=GLUU

Zynga Inc.
https://ub.rdinvesting.com/news/?ticker=ZNGA

Glu Mobile Inc.'s stock jumped 5.47% Wednesday, to close the day at $2.89. The stock recorded a trading volume of 7,270,181 shares, which was above its three months average volume of 3,987,180 shares. In the last year, Glu Mobile Inc.'s shares have traded in a range of 1.73 - 3.02. The share price has gained 67.05% from its 52 week low. The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $2.60 is greater than its 200-day moving average of $2.39. Shares of Glu Mobile have gained approximately 48.97 percent year-to-date.

Access RDI's Glu Mobile Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=GLUU

On Wednesday, shares in Zynga Inc. recorded a trading volume of 19,413,961 shares, which was above the three months average volume of 13,299,200 shares. The stock ended the day 1.10% lower at 3.58. The share price has gained 49.17% from its 52 week low with a 52 week trading range of 2.40 - 3.86.The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $3.65 is greater than its 200-day moving average of $3.11. Shares of Zynga have gained approximately 39.3 percent year-to-date.

Access RDI's Zynga Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=ZNGA

Our Actionable Research on Glu Mobile Inc. (NASDAQ: GLUU) and Zynga Inc. (NASDAQ: ZNGA) can be downloaded free of charge at Research Driven Investing.

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