Stocks to Watch: Zynga, Facebook, Zumiez, Splunk
Zynga shares fell 12% in after-hours trading Thursday after the company disclosed in a regulatory filing that it will no longer have to display Facebook ads or use Facebook payments on its own Zynga.com properties. Facebook will be permitted to develop its own games under the new partnership.
Zumiez(ZUMZ) shares tumbled after the specialty retailer gave a disappointing outlook on Thursday and quarterly revenue came in below analysts' forecasts.
Splunk (SPLK) , the software company, saw its shares rise in after-hours trading, helped by strong revenue growth.
Splunk generated $52.05 million in third-quarter revenue, up 67% from a year earlier. On a non-GAAP basis, Splunk posted a loss of 1 cent a share. Analysts were looking for a loss of 2 cents a share on $46.67 million in revenue.
Splunk also gave fourth-quarter revenue guidance on Thursday that was above Wall Street estimates.
Citigroup's (C) trading and investment-banking division plans to cut 150 more jobs and shrink bonuses by as much as 10%, Bloomberg reported, citing two people with direct knowledge of the decisions.
-- Written by Joseph Woelfel
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