Schaeffer's Trading Floor Blog

Buzz Stocks: Zynga Inc, Citigroup Inc, Sony Corp (ADR), and DreamWorks Animation SKG, Inc.

Today's stocks to watch in the news include ZNGA, C, SNE, and DWA

by 4/11/2014 9:14 AM
Stocks quoted in this article:

Following disappointing first-quarter earnings from JPMorgan Chase & Co. (NYSE:JPM), the major market indexes are sitting well below breakeven in pre-market trading. In company news, here are some stocks to watch today:

  • Zynga Inc (NASDAQ:ZNGA) has hired former Best Buy Co., Inc. (NYSE:BBY) executive David Lee as its next chief financial officer, effective next Monday. Lee -- who "has a track record of helping turn companies around," according to a ZNGA statement -- will replace six-year veteran Mark Vranesh. (Bloomberg)

  • The Wall Street Journal reports that the Department of Justice has opened an investigation into a California-based Citigroup Inc (NYSE:C) unit for failing to report suspicious banking activity that took place along the U.S.-Mexico border. The bank allegedly flagged the transactions -- which may have involved suspected drug-cartel members -- internally, but did not alert the government. (Reuters)

  • Sony Corp (ADR) (NYSE:SNE) is requesting that owners of its Vaio Fit 11A laptop stop using it, after discovering that the PC's battery is capable of overheating and catching fire. SNE has already received three reports of computers being partially burned. (MarketWatch)

  • DreamWorks Animation SKG, Inc. (NASDAQ:DWA) may expand into the music business by purchasing a stake in video hosting service Vevo. Inside sources report DWA CEO Jeffrey Katzenberg has already submitted a bid to Vevo's owners, and recruited ex-Hulu executive Andy Forssell to assist with the effort. (Re/code)

  • Also, JPM and Wells Fargo & Co (NYSE:WFC) reported quarterly earnings. (The New York Times)

  • Finally, in observance of National Grilled Cheese Month, deca Restaurant + Bar at The Ritz-Carlton Chicago is offering its Zillion Dollar Grilled Cheese sandwich for "just" $100. The restaurant says the culinary creation is made with sourdough bread, Iberico ham, $60-a-bottle olive oil, and "40-year aged Wisconsin cheddar infused with 24K gold flakes." (Consumerist)

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