Zynga (ZNGA +9.1%) is adding to its post-earnings gains, maybe with the help of short-covering....
Wednesday, February 6, 11:50 AM ETZynga (ZNGA +9.1%) is adding to its post-earnings gains, maybe with the help of short-covering. In addition to the Q4 beat (fueled by cost cuts), Mark Pincus' earnings call remarks about focusing on profitability by steering resources towards online gambling, existing hits such as FarmVille 2, and a handful of new "midcore" titles seem to be going over well. Jefferies and Evercore remain cautious, noting visibility is low (no 2013 top-line guidance) and bookings are expected to fall again in Q1. Facebook (FB +1.5%) is up a bit.
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