Company News: U.S. Automakers, Zynga, Hulu, AIG, Retailers in Japan
A Pickup in Motown
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• Detroit automakers continued to gain market share from rivals in May, aided by a surge in pickup sales. Ford’s F-Series sales rose 31 percent over last May, while General Motors’ Chevrolet Silverado pickup jumped 25 percent. The Ram truck, made by Fiat’s Chrysler, also saw sales rise 22 percent. A resurgence in homebuilding and the fracking boom are helping drive demand for trucks.
• Zynga, the social gamemaker, plans to cut 520 jobs, or 18 percent of its staff, this summer. It has struggled to attract players to games other than its flagship FarmVille series, sending Zynga’s average monthly users down 13 percent in the first quarter.