Zynga Stock Jumps After Upgrade From JMP

Well, Look Who's Having A Good Day! (For A Change)
FILE- In this Tuesday, June 26, 2012, file photo, Zynga CEO Mark Pincus speaks during the announcement of new games at Zynga headquarters in San Francisco. Zynga's stock is tanking after the online game maker reported a loss in the second quarter on Wednesday, July 25, 2012, with adjusted earnings and revenue below Wall Street's already-low expectations. (AP Photo/Paul Sakuma, File)
FILE- In this Tuesday, June 26, 2012, file photo, Zynga CEO Mark Pincus speaks during the announcement of new games at Zynga headquarters in San Francisco. Zynga's stock is tanking after the online game maker reported a loss in the second quarter on Wednesday, July 25, 2012, with adjusted earnings and revenue below Wall Street's already-low expectations. (AP Photo/Paul Sakuma, File)

(Reuters) - JMP Securities initiated coverage on Zynga Inc with a "market outperform" rating, Dow Jones reported, sending the social gaming company's shares up as much as 10 percent.

Zynga, one of the several Internet startups that made a debut with fanfare last year, slashed its 2012 earnings outlook late last month blaming a steep drop-off in players for its core Facebook Inc money-makers.

Shares of the San Francisco-based creator of "Farmville" were up 7 percent at $3.17 on the Nasdaq on Wednesday morning. They have lost more than 40 percent of their value since the company slashed its outlook on July 25.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Supriya Kurane)

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