ZNGA Shares Continue to Climb on Gambling Legislation in Nevada

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ZNGA Shares Continue to Climb on Gambling Legislation in Nevada

Zynga, Inc. shares climbed 7.52% on Monday. This gain follows a climb of 7.77% that the stock saw last Friday when headlines announced that Nevada has legalized online gambling within the state. The San Francisco based maker of social games could see a new revenue opportunity with the new legislation. The Company already has a deal with U.K.’s Bwin.Party to provide real money online poker starting in the first half of 2013.

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Global Geophysical Services, Inc. (NYSE: GGS) – Global Geophysical Services saw a big decline on Monday, making it one of the biggest decliners on the NYSE. The stock sank 33.79% at the close and hit a new 52-week low yesterday at $2.83. The Company released their 4th quarter earnings report of fiscal year 2012, before the market opened on Monday. GGS missed Wall Street’s expectations and came up short on beating the revenue expectation. The Company reported that adjusted Earnings Per Share decreased to $-0.76 in the quarter versus EPS of $0.04 in the year-earlier quarter. The company missed the mean analyst estimate of $0.13.  Revenue decreased 51.1% to $55.3 million from the year-earlier quarter, missing the average revenue estimate of $95.94 million. Together with its subsidiaries, GGS provides an integrated suite of seismic data solutions to the oil and gas industry worldwide.

Affymax, Inc. (Nasdaq: AFFY) – AFFY was one of the biggest decliners on the Nasdaq yesterday, sinking more than 85% at the close and hitting an all-time low for the Company. The huge crash came after the Company, along with its partner Takeda Pharmaceutical Co. Ltd. of Japan, voluntarily recalled its anemia drug Omontys this weekend. The drug was used for anemia patients on dialysis. The recall comes after a handful of fatal reactions followed use of the medication in first-time users. The U.S. Food and Drug Administration have concurred with Affymax’s decision. Shares of AFFY were already down 84% in pre-market trading on Monday. Volume traded yesterday at 60,515,859 shares was times higher than the stock’s average of 834,445 shares.  The Chief Commercial Officer of the Company bought 1000 shares at $7.99 on February 15th.

Barnes & Noble, Inc. (NYSE: BKS) – Barnes & Noble was one of the most active stocks on the NYSE on Monday. Barnes & Noble's founder Leonard Riggio disclosed in a regulatory filing on Monday that he wants to acquire the company's stores and website. Monday's filing with the U.S. Securities and Exchange Commission said that Riggio, who is Barnes & Noble's largest shareholder with nearly 30 percent of the company's shares, will seek to negotiate a price with the company's board and pay for the deal with cash and debt. Shares of BKS closed at 15.06, up 11.47%. The stock has a 52-week trading range of 10.45 - 26.00. The stock traded 6,545,051 shares yesterday in comparison to an average of 1,469,490 shares. The Company operates as a content, commerce, and technology company in the United States and has 689 bookstores in 50 states and 674 college bookstores.

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