Key Energy Falls In Outlook (GEVO, KEG, ZNGA, CTIC, SIRI)

Key Energy Falls In Outlook (GEVO, KEG, ZNGA, CTIC, SIRI)

Gevo Inc (NASDAQ:GEVO) plunged 31.42% to $2.27 on a traded volume of 562k shares. The company will shift to ethanol at its Luverne, Minnesota plant. The Company will stop producing isobutanol. Isobutanol is the more complex product the facility has been making since May.

The Company is U.S. Biotechnology Company backed by French Oil Company Total SA and specialty- chemicals maker Lanxess AG.

Key Energy Services Inc (NYSE:KEG) among the losers and the stock went down 11.53% t o $7.21 after the Company issued third quarter guidance. The Company expects third quarter 2012 consolidated results from continuing operations to be below prior expectations. The consolidated revenue is expected to decline 4% to 5%. Key sold its Argentina operations effective September 14, 2012 and expects to record non-cash, pre-tax charge against discontinued operations of approximately $45 million in the third quarter. However analysts were expecting the Company to report revenue of $534.67 million in the third quarter of 2012.

Zynga Inc (NASDAQ:ZNGA) went down 0.68% to $2.92. Nokia Corporation is increasing its business partnership with Zynga Inc to give further value to its devices including Asha touch mobile phones. Zynga Inc (NASDAQ:ZNGA) games will be added to Asha series beginning from the current quarter.

The Company has agreed to acquire San Mateo. San Mateo is a California-based game maker A Bit Lucky Inc. According to two people with knowledge of the deal, Zynga paid $20 million to $25 million for the deal.

Cell Therapeutics Inc (NASDAQ:CTIC) surged up 3.06% to $2.69. The Company said that a study of its drug for patients with relapsed lymphoma has indicated positive results. The phase 1 study of Cell Therapeutics’ highly selective oral JAK2 inhibitor pacritinib showed encouraging anti-tumor activity and good tolerability in 34 patients with relapsed or refractory lymphoma.

Sirius XM Radio Inc (NASDAQ:SIRI) went up 1.0% to $2.53. Nissan selected SiriusXM as the exclusive provider of a comprehensive suite of premium telematics services for Nissan branded vehicles.