Zynga Inc. (NASDAQ:ZNGA) enjoyed robust stock volume Mar. 17, with 27,678,764 shares changing hands and its share price closing at $5.34, down 12 cents from the previous day’s close of $5.46.
Focusing On Mobile Platform
Analysts covering the game maker say that Zynga’s new CEO Mattrick is a stickler for pleasing existing customers and attracting new ones. One way to get more customers is to focus on developing more games for the mobile platform. If this is the case, they contend that Zynga is adopting a mobile-first strategy. In addition, industry experts say you can expect Zynga to step up its creating and introduction of new games to the marketplace this year.
Restructuring In Full Swing
While Zynga enjoyed some success in 2013 with such popular games as Zynga Poker, Farmville, and Farmville 2 still topping social-gaming charts, its quarterly revenue fell by about 30% in 2013 due to competing games. The company reported during its second quarter that it lost 39% of its active users in 2013 compared with the previous year, decreasing to 187 million.
Since then, Zynga has gone though some major restructuring, including recruiting and hiring its new CEO Don Mattrick, who served productive stints both at Microsoft Corp. (NASDAQ:MSFT) and Electronics Arts Inc. (NASDAQ:EA). Zynga also reduced its workforce by 18% when it laid off 520 workers as part of slashing $80 million dollars from its budget. It is also developing new role-playing games, which have a longer lifespan that social games, by introducing such games as Battlezone. In addition, Zynga is making a foray into online gambling games by introducing ZyngaPlusCasino and ZyngaPlusPoker in the United Kingdom.
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Sirius XM Holdings Inc. Reaffirms Its 2014 Guidance
Meanwhile, Sirius XM Holdings Inc. (NASDAQ: SIRI) share price continues to nudge downwards, with little good or bad news being circulated about the company.
Meanwhile, on Mar. 10, the satellite-radio provider Sirius XM Holdings Inc. (NASDAQ: SIRI) reaffirmed its previously issued guidance for 2014:
- Net subscriber additions of 1.25 million,
- Revenue of over $4.0 billion,
- Adjusted EBITDA of approximately $1.38 billion, and
- Free cash flow approaching $1.1 billion.
Sirius Has Come a Long Way
Despite its flat performance lately, Sirius has come a long, long way from the time its share price crashed at 5 cents in February of 2009.
Its recovery was evident in its fourth-quarter and full-year 2013 earnings reported on Feb. 4, 2014.
The company generated record revenue of $1.0 billion and $3.8 billion in the fourth quarter and full-year, respectively, each up 12%. Net income for the fourth quarter and full-year were $65 million and $377 million, respectively, or $0.01 and $0.06 per diluted common share, respectively.
Income from operations was $245 million and $1.0 billion in the fourth quarter and full-year 2013, respectively. Adjusted EBITDA increased 41% in the fourth quarter to a record $326 million. Full-year 2013 adjusted EBITDA was $1.17 billion, an increase of 27% from $920 million in 2012.
Potential Lawsuits Not Hurting SIRI
Despite a myriad of law-firm of Sirius XM for potential stockholder claims as a result of the satellite-radio investigations company’s proposed acquisition by Liberty Media Corp., its stock price is holding its own.
On Jan. 3, 2014, Liberty Media make an offer to buy Sirius for about $10.4 billion at a rate of $3.68 per share. The deal involves creating a new class of stock called Series C, adding 0.076 per share to give the company a total market value of as much as $27 billion.
Although the pending acquisition has triggered a slew of potential stockholder lawsuits, without Liberty Media, Sirius XM might not have been here today.
That’s because in 2009, Liberty Media kept Sirius XM from going bankrupt with a $530 million loan. As a result, Sirius XM has been able to build a subscriber base 25.6 million strong. It’s done so with a line-up of paid-radio choices including classical, rock, alternative, country, sports and live concerts, including the extremely-popular morning man Howard Stern serving as the company’s anchor. Moreover, having new cars equipped with XM receivers has also boosted the company’s popularity and acceptability. However, Sirius XM still faces brutal competition from such digital radio competitors as Pandora Media Inc., AOLRadio and Apple Inc.
On Mar. 17, SIRI’s share price closed at $3.42, down 2 cents from its closing price of $3.44 the previous day on volume of 50,084,552 shares.
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Synovus Financial Corp to Pay Quarterly Dividend
In the financial sector, Synovus Financial Corp. (NYSE:SNV), the Columbus, Georgia-based financial services company’s stock volume soared Mar. 17, with 18,587,348 shared changing hands, more than twice its three-month average volume of 7,718,101 shares.
The surge in Synovus Financial’s stock volume comes on the heels of an announcement from its board of directors that the company will pay a quarterly dividend of 1 cent per share on its common stock.
Stockholders on record as of Thursday, 20 March will be eligible for the payout. This represents an annualized-dividend of 4 cents and a dividend-yield of 1.14%. Synovus Financial with market cap of 3.32B in its quarterly earnings reported earnings per share of 5 cents for the quarter, which was in-line with the average projection of 5 cents.
Analysts’ Consensus
According to the reports, analysts from Zacks have recommended “outperform” rating with price target of $4.00 on the company’s stock. Of the 9 other market analysts covering the company, 5 have rated it as “hold” rating and 4 as a “buy” rating. The average analyst rating of the company is “hold” with price target of $3.35.
On Mar. 17, SNV’s share price closed at $3.40, down 1 cent from its closing price of $3.41 the previous day.
Find out what could be the best investor’s move when it comes to SIRI by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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