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Needham, Piper, and Craig-Hallum have all downgraded Glu Mobile (GLUU -17.3%) after it provided...

Needham, Piper, and Craig-Hallum have all downgraded Glu Mobile (GLUU -17.3%) after it provided Q4 guidance that fell short of reduced estimates. Piper, lowering shares to Neutral, says it's taking a "wait-and-see approach" towards Glu's efforts to revamp its game lineup. During its earnings call, Glu predicted a stronger focus on PvP multiplayer games (boosted by GameSpy) would give it a lift, and noted it had hired EA/Zynga vet Matt Ricchetti to be its first President of Studios. (Q3 results)
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