Not Everyone Excited About New Zynga CEO and Layoff News

Say this on news this morning. Interesting!!

24/7 Wall St.

200325572-001Zynga Inc. (NASDAQ: ZNGA) has enjoyed a sudden new interest from traders on news that Don Mattrick has been hired away from the Microsoft Corp. (NASDAQ: MSFT) Interactive unit. The stock enjoyed a gain of about 10% on the news on Monday, but one analyst is taking a positive yet cautious view here. Sterne Agee’s analyst team of Arvind Bhatia and Brett Strauser are only maintaining a Neutral rating on Zynga. The outlook is that the company has a product issue rather than a management issue.

Don Mattrick will be CEO and founder Mark Pincus will remain chairman and chief product officer of Zynga in the management change. Mattrick most recently was president of Microsoft’s Interactive Entertainment division and was very visible during the announcement of Microsoft’s new Xbox One console. Prior to that, he was president of Worldwide Studios at Electronic Arts Inc. (NASDAQ: EA)…

View original post 272 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s