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Zynga (ZNGA -6.7%) falls again (previous) thanks to a cautious Baird note; shares are now down...

Zynga (ZNGA -6.7%) falls again (previous) thanks to a cautious Baird note; shares are now down 39% since March 26. Baird thinks the Q1 payments data found in Facebook's latest S-1 suggests Zynga had Q1 net bookings of $230M from Facebook transactions, which translates into total bookings of just ~$300M, below the firm's estimate of $320M. Nonetheless, Baird is positive on Zynga's long-term positioning in social and mobile gaming.
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