Zynga Shares Rise on Yahoo Buyout Speculation. Can the Market Keep Up the 7
Day Bull Rally?
NEW YORK, March 12, 2013
NEW YORK, March 12, 2013 /PRNewswire/ --
Zynga Inc. shares soared to levels on Monday that has not been seen by the
stock since last July, on the rumor that Yahoo! Inc. might consider them a
buyout candidate. In a report by analyst Blake Harper of Wunderlich Securities
Inc., Yahoo may consider Zynga, as CEO Marissa Mayer seeks acquisitions to
boost Yahoo!'s mobile and social capabilities. Shares of Zynga closed at $3.93
on Monday, up roughly 10%.
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Dick's Sporting Goods Inc. (NYSE: DKS) - One of the biggest decliners on the
NYSE yesterday was Dick's Sporting Goods. The stock sank more than 12% in
intra-day trading to a low of $45.00, still above its 52-week low of $44.06.
The largest company in the sporting goods sector reported weaker than
anticipated results for the fourth quarter. The Company also provided fiscal
2013 earnings per share guidance of $2.84-$2.86, which trails behind the
analysts' consensus estimate of $2.92. The stock saw a significant boost in
volume on with # shares traded, im comparison to an average of 1,468,330
shares. Shares of DKS closed at $45.11 on Monday.
BlackBerry (Nasdaq: BBRY) - Shares of BBRY soared on Monday, hitting as high
as $14.92 in intra-day trading, which represented gains of 14.24% since
Friday's closing price of $13.06. The spike in share price came after Yang
Yuanqing, the CEO of Chinese computer makker Lenovo (LNVGY), reportedly told
French newspaper Les Echos that it could make sense for his company to buy
Blackberry. In January, Bloomberg quoted Lenovo's CFO as saying that the
company was exploring a possible takeover of BlackBerry. The Company's new
flagship Z10 smartphone running the new BlackBerry 10 platform is set to
launch on AT&T's network on March 22. Shares of BBRY closed up at $14.90
Genworth Financial Inc. (NYSE: GNW) - Gensworth Financial Inc. hit a new
52-week high of $10.74 in intra-day trading on Monday with an unusual spike in
volume. Volume traded yesterday was more than three times higher than the
stock's average volume. A Barron's article from Sunday suggested that the
Company could almost double in the next year. Genworth Financial, which
provides insurance, wealth management, investment, and financial solutions in
the United States and internationally, traded more than 30 million shares on
Monday. The stock closed in the green up 6.71% at $10.50.
Aeterna Zentaris Inc. (Nasdaq: AEZS) - Shares of Aeterna Zentaris experienced
a steep drop on Monday making it one of the biggest losers on the Nasdaq
composite. The Company announced that an independent Data Safety Monitoring
Board has recommended discontinuing the ongoing Phase 3 study comparing the
efficacy and safety of perifosine to placebo when combined with bortezomib
(Velcade) and dexamethasone in patients with relapsed or relapsed/refractory
multiple myeloma. Shares of AEZS hit as low as $1.85 in intra-day trading,
just ten cents above the stock's 52-week low. The stock has a 52-week trading
range of 1.75 - 12.84. Shares closed at $2.03, down 22.52% yesterday.
China Auto Logistic Inc. (Nasdaq: CALI) - CALI experienced one of the biggest
percentage advances on the Nasdaq on Monday. The stock closed with gains over
88% with an unusual spike in volume. Trading volume yesterday was more than
forty times higher than the stock's average. Shares of CALI traded as high as
$5.38 in intra-day trading. A SeekingAlpha writer wrote on Monday why he
thinks CALI will rise to new highs this month. The Company primarily engages
in the sale and trading of imported automobiles in the People's Republic of
China and has a 52-week trading range of 1.08 - 7.48.
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