Glu Mobile and Zynga Shares Fall Sharply after Outlook Lowered by Zynga
10 October 2012 - 11:20PM
Marketwired
Mobile gaming leaders Glu Mobile and Zynga have been gaining
attention among investors recently for different reasons. Shares of
Glu Mobile have surged after announcing a gambling deal with
Probability PLC, while Zynga shares plunged after lowering its
full-year outlook for bookings. Five Star Equities examines the
outlook for companies in the Multimedia & Graphics Software
Industry and provides equity research on Glu Mobile Inc. (NASDAQ:
GLUU) and Zynga Inc. (NASDAQ: ZNGA).
Access to the full company reports can be found at:
www.FiveStarEquities.com/GLUU www.FiveStarEquities.com/ZNGA
Glu Mobile recently announced that Probability PLC, the UK's
only publicly-traded mobile gambling company, will use the
company's existing games to create Glu branded mobile slot
games.
"We believe that mobile gambling momentum is beginning to
accelerate on a global basis, and with this deal, Glu becomes an
early mover. We anticipate that as additional markets around the
world open up to real-money mobile gaming, we will expand our
investment in the subsector," said Niccolo de Masi, Chief Executive
Officer of Glu Mobile. "We view real-money mobile gaming as an
opportunity to extend the reach of our successful original IP to
new demographics, as well as deepen engagement and rewards for our
players."
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Zynga fell as much as 20 percent after reporting it now expects
full-year bookings to be between $1.085 billion to $1.1 billion,
down from their estimate of $1.15 billion to $1.225 billion in
July. Shares of Zynga are down more than 75 percent from their
initial IPO price of $10.00 per share last December.
"The reduced performance of some of our live Web games is
continuing to impact results and we have several new games which
are at risk of launching later than expected," CEO Mark Pincus
wrote in a letter posted to Zynga's blog.
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