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Zynga (ZNGA)

  • Wed, May 20, 5:41 PM
  • Tue, May 12, 12:51 PM
    • Senator Harry Reid says he will consider supporting a full ban of online gaming in the U.S. if he can't carve out an exemption for poker.
    • Currently, there is a bill floating around the House of Representatives that stands a decent chance of making it to the Senate this year.
    • Most casino operators support online gaming due to the strength of their brand, although a notable exception is Las Vegas Sands (NYSE:LVS) with outspoken CEO Sheldon Adelson.
    • A federal ban on online gaming could also have implications for the growing online sports fantasy games industry which has steered clear of tight regulatory review so far.
  • Wed, May 6, 4:43 PM
    • Zynga (NASDAQ:ZNGA) is now up 6.5% in late trading (following a day where it gained 4.4%) after posting a narrower net loss that was better than expected, and beating revenue expectations, while setting up a $100M cost savings plan including layoffs.
    • Adjusted EBITDA was $2M, vs. expectations of -$15M. Mobile bookings are up 84% to make up 63% of bookings, CEO Mark Pincus noted.
    • Average daily bookings per average DAU rose 18%, to $0.076. That's down sequentially from $0.084. Monthly unique players were 1.1M, down from the prior year's 1.1M. Daily active users were 25M, down from the prior 28M.
    • Job cuts might be expected to come from the company's "old guard" of social game developers, as Zynga made a major move to mobile strategy with yesterday's release of Empires & Allies. The company plans six to eight new mobile games in 2015.
    • Conference call at 5 p.m. ET.
    • Press release
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  • Wed, May 6, 4:19 PM
    • Zynga (NASDAQ:ZNGA): Q1 EPS of -$0.01 beats by $0.01.
    • Revenue of $183.3M (+9.1% Y/Y) beats by $35.6M.
    • Shares +8.8%.
  • Wed, May 6, 4:14 PM
    • Zynga (NASDAQ:ZNGA) is up 11% after hours following news with its earnings release that it's cutting 18% of its workforce -- about 364 jobs -- as part of a $100M annual cost-reduction program, the company said.
    • The move excludes an estimated $18M-$22M pretax charge for the restructuring that it will take in Q2.
    • The job cuts should be complete in Q4 and save about $45M a year; the remainder is coming through cuts in centralized services cuts, and that should be complete by Q3 2016.
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  • Tue, May 5, 9:36 PM
    • Zynga (NASDAQ:ZNGA) today launched an action strategy game, Empires & Allies, that should prove a key test of whether the company can get to new mobile audiences.
    • Senior VP of Games Mark Skaggs -- a real-time strategy (RTS) veteran with a tenure at Electronic Arts -- co-developed the game and, for a team, pulled together veterans of the Command & Conquer series with social developers from FarmVille and CityVille.
    • Zynga hopes the result is a game that can succeed on mobile where it might have failed on Facebook. The game's also a departure from its casual-games past, but it could follow in the success of competition like Clash of Clans -- Supercell's asynchronous fighter that's a multibillion-dollar success.
  • Tue, Apr. 28, 7:40 PM
  • Mon, Apr. 27, 9:21 AM
    • Following this month's departures of its CEO and COO, Zynga (NASDAQ:ZNGA) has entered retention agreements with General Counsel Devang Shah and CFO/Chief Accounting Officer David Lee.
    • The two will receive a half-year's worth of their base salary and target bonus, along with an extra six months' vesting of equity awards, if they're terminated without cause or leave for "good reason."
    • COO Clive Downie left the company last week, and on April 8 the firm said CEO Don Mattrick resigned, to be replaced by Zynga founder Mark Pincus.
  • Thu, Apr. 23, 5:53 PM
    • Zynga (NASDAQ:ZNGA) has added Louis Lavigne Jr. to its board.
    • Lavigne is the former longtime CFO of Genentech and is currently managing director at consulting firm Lavrite. He bring "deep experience in business transformation" among other qualities, says CEO Mark Pincus.
    • In its 8-K, Zynga also noted the resignation of COO Clive Downie.
    • The moves come just a few weeks after Pincus returned to the CEO chair as Don Mattrick resigned that post and his board position.
    • Shares are down 1.2% after hours.
    • 8-K
  • Thu, Apr. 9, 12:45 PM
  • Thu, Apr. 9, 9:11 AM
  • Wed, Apr. 8, 5:38 PM
    • Top gainers, as of 5:15 p.m.: SALT +8.4%. EPE +7.1%. RNDY +6.4%. APOG +5.6%. EGY +5.1%.
    • Top losers, as of 5:15 p.m.: ZNGA -10.3%. NOAH -3.6%. BBBY -3.5%. AA -3.4%. GPT -3.0%.
  • Wed, Apr. 8, 4:41 PM
    • The Street isn't pleased with news Don Mattrick is resigning as Zynga's (NASDAQ:ZNGA) CEO to pave the way for founder/chairman Mark Pincus' return.
    • After coming off a halt, shares have fallen to $2.66 AH. $1.2B in cash/investments ($1.31/share) were on the balance sheet at the end of 2014.
  • Wed, Apr. 8, 4:15 PM
    • Following less than 2 years on the job, former Microsoft Xbox chief Don Mattrick is resigning as Zynga's (NASDAQ:ZNGA) CEO, and from the board.
    • Controversial founder/chairman Mark Pincus, who last year stepped down from an operational role at the social/mobile game developer, is now returning as CEO. Pincus, Zynga's biggest shareholder, will earn a $1 salary.
    • Mattrick: "I believe the timing is now right for me to leave as CEO and let Mark lead the company into its next chapter given his passion for the founding vision and his ability to couple our mobile progress with Zynga's unique strengths ... I plan to return to Canada to pursue my next challenge."
    • CFO David Lee states Q1 was "a strong quarter," and that Zynga is "confident" about its guidance. Q1 results arrive on May 7.
    • Zynga remains halted. Om Malik at the time of Mattrick's hiring: "How long will he last? My guess is somewhere between 16 and 24 months. That’s about the time it takes for Pincus to fall out of love with new executive hires."
  • Wed, Apr. 8, 4:03 PM
    • Zynga (NASDAQ:ZNGA) has been halted after the bell. Shares rose 3.4% in regular trading.
    • Update: Zynga announces Don Mattrick is stepping down as CEO, and that Mark Pincus will once more have the job.
  • Tue, Mar. 10, 2:49 PM
    • The push to legalize sports betting has a "tidal wave" of momentum behind it, according to some legal and gaming experts.
    • NBA commissioner Adam Silver publicly supports bringing sports betting off the black market, and other high-level sports execs say they are open to having discussions on the topic.
    • If legalized sports betting were to take off, companies with an edge on the technology front could carve up market share.
    • U.K. firm William Hill (OTC:WIMHF, OTCPK:WIMHY) now brings in 40% of its handle via mobile apps.
    • Though major casino operators such as Wynn Resorts (NASDAQ:WYNN), Caesars Entertainment (NASDAQ:CZR), and MGM Resorts (NYSE:MGM) face some risk of reduced Las Vegas traffic, they also have a branding advantage with potential bettors which can be leveraged.
    • Scientific Games (NASDAQ:SGMS) and Zynga (NASDAQ:ZNGA) appear poised to jump on the sports gambling scene as soon as legalities clear.
    • Even Comcast (NASDAQ:CMCSA) is on the periphery of sports betting through Comcast Ventures' property
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Company Description
Zynga Inc provides social game services. The Company develops, markets and operates social gamesas live services played on mobile platforms such as iOS and Android and social networking sites such as Facebook.