Zynga Inc Hits Another Record Lows (ZNGA, HAR, COOL, TNAV)
Zynga Inc (NASDAQ:ZNGA) continued to move lower and slumped 12.16% to $4.87 after hitting a recod low of $4.87 on yet another negative note from Cowen’s Doug Creutz, who reports the company’s daily active users fell significantly for the second straight month on the back of declining usage for nearly all of its games. Creutz suspects interest in PC-based Facebook (FB +1.6%) gaming may have peaked as users shift their attention to mobile games.
Harman International Industries Inc./DE/(NYSE:HAR) fell 6% to $35.72 after following a fall of more than 5% Monday, after Apple Inc disclosed a feature-rich map service that threatens to knock GPS devices off more drivers’ dashboards. Harman International Industries, Incorporated (Harman International) is engaged in the developing, manufacturing and marketing of audio products and electronic systems. The Company has developed a range of product offerings, which are sold under brand names.
Invesco Ltd. (NYSE:IVZ) lost 2.77% after analyst at Sandler O’Neill lowered its earnings estimates and price target on the company following a “tough” May for the asset manager. After the market close Monday, Invesco reported its assets under management at the end of May were down 5% for the month to $632 million, reflecting sizeable market depreciation, foreign-exchange losses and net outflows. Sandler O’Neill said the assets total was well short of its prior quarter-end forecast of $686 million.
Nationstar Mortgage Holdings Inc (NYSE:NSM) slid 2.81% after Warren Buffett’s Berkshire Hathaway Inc. said it is seeking to buy mortgage assets of Residential Capital LLC, the bankrupt lending unit of government-owned Ally Financial Inc. Berkshire offered to be the “stalking horse” bidder for a servicing portfolio of $374 billion of mortgages that ResCap already has a proposed agreement to sell to Nationstar Mortgage Holdings, a monoline mortgage servicer that is majority owned by Fortress Investment Group LLC