Zynga (ZNGA) Post Good Q3 Results but Title Delays and CFO Departure Shift the Spotlight to 2016

Zynga's (ZNGA) Return Profile Viewed as Positive by Benchmark; PT Moves to $3.25

November 4, 2015 9:00 AM EST

Benchmark is lifting its price target on Buy-rated Zynga (Nasdaq: ZNGA) from $3.01 up to $3.25 following Q3 results and outlook issued Tuesday night.

Analyst Mike Hickey commented: We view the Companys return profile as positive; were encouraged by the Companys strong balance... More

Zynga (ZNGA) Tops Q3 EPS by 1c, Offers Q4 Guidance; Announces $200M Buyback; CFO to Depart

November 3, 2015 4:14 PM EST

Zynga (NASDAQ: ZNGA) reported Q3 EPS of $0.00, $0.01 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $195.7 million versus the consensus estimate of $169.94 million.

Today, the company announced that our Board of Directors authorized a share repurchase program of up to $200 million of our outstanding Class A common stock that remains in effect until October 2017. The timing and amount of any stock repurchases will be determined based on market conditions, share price and other factors. The program does not require us to repurchase any specific number... More

"Farmville" creator Zynga's CFO steps down

November 3, 2015 4:11 PM EST

(Reuters) - "FarmVille" game maker Zynga Inc said Chief Financial Officer David Lee was stepping down and Chief Accounting Officer Michelle Quejado was taking over as interim CFO.

Zynga also said on Tuesday that it would delay the launch of its "Dawn of Titans" and "CSR2" games to 2016 from the fourth quarter planned earlier.

Lee,... More

Activision Blizzard buys 'Candy Crush' maker in mobile push

November 2, 2015 10:56 PM EST

By Eric Auchard and Leila Abboud

DUBLIN (Reuters) - Video game maker Activision Blizzard (NASDAQ: ATVI) will buy "Candy Crush Saga" creator King Digital Entertainment (NYSE: KING) for $5.9 billion, as the heavyweight of console and PC-gaming makes a major push into the faster-growing mobile market.

The deal is one of the biggest in the industry in recent years, more than twice the size of Microsoft Inc's (NASDAQ: MSFT) $2.5 billion purchase of "Minecraft" maker Mojang last year, and the biggest-ever acquisition of a... More