Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Zynga Inc    ZNGA

ZYNGA INC (ZNGA)

Delayed Quote. Delayed  - 07/29 10:00:00 pm
2.87 USD   --.--%
07/26 Words With Friends Goes Back to School
07/07 Zynga to Discuss Second Quarter 2016 Financial Results on August ..
06/30 Calling All Car Lovers! CSR Racing 2 Speeds onto iOS and Android
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Wall Street Week Ahead: Market is oversold, but major signs say "sell"

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/20/2012 | 04:29pm CEST

Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case this week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions.

With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further this week as concerns about the financial health of Europe persist.

"What has changed in the world since April? We went from hearing a constant refrain that the world is awash in money and markets must go higher to hearing nobody wants to take any risk ... All in a week," said Peter Cecchini, global head of institutional equity derivatives at Cantor Fitzgerald & Co in New York.

The S&P 500 fell 4.3 percent for the week, its steepest weekly decline this year, and closed below 1,300 for the first time in four months.

The hotly awaited market debut of Facebook on Friday was marred by technology glitches on the Nasdaq in sending messages back to the brokerages that handled orders of Facebook Inc <FB.O> for individual, or "retail," investors. Those problems rekindled fears about the market's electronic trading system and caused some investors to stay away from equities.

Weighing on sentiment is a growing sense among investors that the euro zone debt crisis is nearing new heights, fueled by fears of the potential for a Greek euro exit and the deteriorating health of the Spanish banking system.

Solid corporate earnings and upbeat U.S. economic indicators had fueled the rally in U.S. stocks, offsetting jitters over Europe. But with earnings almost out of the way and data starting to disappoint, investors have shifted their focus back to headlines out of Europe.

Leaders of the Group of 8 major industrial economies were meeting this weekend to try to tackle the financial crisis in Europe. U.S. President Barack Obama, the G8 host, has urged European leaders repeatedly to do more to stimulate growth, fearing contagion from the euro crisis that could hurt the U.S. economy and his chances of re-election in November.

"The market is extremely oversold. Nonetheless, all major indicators remain on sell signals," Larry McMillan, president of options research firm McMillan Analysis Corp, said in a report on Friday.

"We expect a powerful but short-lived rally should be coming soon. But at this point, barring some major shifts in our indicators, it may only be a rally in a larger down-trending market," McMillian said.

THE FACEBOOK EFFECT

Facebook, the No. 1 online social network, disappointed investors with a tepid market debut on Friday. Shares rose a scant 0.6 percent - nowhere near expectations for double-digit gains on the first trading day - and the day was marred by technical problems due to huge order volume. The stock closed at $38.23 after falling as low as $38, its initial offer price.

The disappointing debut curbed investors' appetite for other social media stocks. Hardest hit was Zynga Inc (>> Zynga Inc), which closed down 13.4 percent to $7.16 after falling as low as $6.40. The stock was temporarily halted twice due to sudden declines.

LinkedIn (>> Linkedin Corporation) shares fell 5.7 percent to $99.02, and Groupon (>> Groupon Inc) fell 6.7 percent to $11.58. Zynga and Groupon, both of which went public late last year, are also trading below their IPO prices.

Despite the disappointing market debut and the weak performance of social media stocks, market participants are still optimistic about Facebook going forward.

"In any brand new area, social media in this case, most are going to be losers and only some are going to be winners. Yes, the IPO was disappointing, but Facebook is clearly the winner here and others aren't," said Randy Warren, chief investment strategist at Warren Financial Service.

The coming week's economic data includes April's existing home sales on Tuesday at 10 a.m. EDT (1400 GMT). Existing home sales are forecast at a 4.60 million-unit annual, up from 4.48 million in March.

New homes sales figures are due on Wednesday at 10 a.m. EDT. April's new home sales are also expected to post an increase, gaining about 7,000 units over a 328,000-unit annual rate in March.

Initial jobless claims and durable goods orders will be published on Thursday at 8:30 a.m. Consumer sentiment is due at 9:55 a.m. on Friday.

For the week, the Dow was off 3.5 percent and the Nasdaq was down 5.3 percent.

(Additional reporting by Doris Frankel in Chicago; Editing by Leslie Adler and Maureen Bavdek)

By Angela Moon

Stocks treated in this article : Groupon Inc, Linkedin Corporation, Zynga Inc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ZYNGA INC
07/26 Words With Friends Goes Back to School
07/07 Zynga to Discuss Second Quarter 2016 Financial Results on August 4, 2016
06/30 Calling All Car Lovers! CSR Racing 2 Speeds onto iOS and Android
06/23 ZYNGA : Playwire Media Taps Zynga SVP Chris Petrovic for Board of Directors
06/23 ZYNGA UNTHAWS THE COOLEST ERA IN HIS : Arctic Blast
06/13 Zynga Names Bernard Kim as President of Publishing
06/10 ZYNGA INC : Submission of Matters to a Vote of Security Holders (form 8-K)
06/08 ZYNGA : HELPSHIFT GETS Rs153 CRORE TO ANSWER YOUR CALL
05/19 LIONS, AND TIGERS, AND PUZZLES! OH, : Magic Match Worldwide
05/18 ZYNGA : Caps Off to SFUSD-Zynga.org Game Design Academy Graduates
More news
Sector news : Internet Gaming
07/29DJTech Stocks Up On Google Earnings - Tech Roundup
07/29DJTalend Nudges Dormant Tech IPO Market
07/29DJLow Crude Prices Hammer Big Oil Companies
07/29DJALPHABET : Tech Companies Still Trusted More on Autonomous-Car Development
07/29DJBAIDU : After Stumbles, Baidu Trails Rivals -- WSJ
More sector news : Internet Gaming
News from SeekingAlpha
07/22 After Hours Gainers / Losers
07/22 Brunswick Is A Long-Term Buy - Cramer's Lightning Round (7/21/16)
07/20 ZYNGA : Potential M&A Speculation And Improving Earnings Momentum To Fuel The Ra..
07/15 ZYNGA : Finally Some Interest From The Market
07/11 Christmas In July
Advertisement
Financials ($)
Sales 2016 743 M
EBIT 2016 7,37 M
Net income 2016 -85,3 M
Finance 2016 879 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 2,19x
EV / Sales 2017 1,81x
Capitalization 2 507 M
More Financials
Chart ZYNGA INC
Duration : Period :
Zynga Inc Technical Analysis Chart | ZNGA | US98986T1088 | 4-Traders
Full-screen chart
Technical analysis trends ZYNGA INC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 2,92 $
Spread / Average Target 1,8%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Frank D. Gibeau Chief Executive Officer & Director
Mark Jonathan Pincus Executive Chairman
Michelle Quejado Chief Financial & Accounting Officer
Dorion Carroll Chief Information Officer
Bing Gordon Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ZYNGA INC7.09%2 507
NEXON CO LTD-21.71%6 582
NCSOFT CORP--.--%4 948
BEIJING KUNLUN TECH CO..--.--%4 563
OURPALM CO LTD--.--%4 326
YOUZU INTERACTIVE CO L..--.--%3 754
More Results