Schaeffer's Trading Floor Blog

Buzz Stocks: Zynga, Walt Disney, NASDAQ OMX, and Citigroup

Today's hot stocks to watch in the news include ZNGA, DIS, NDAQ, and C

by 2/6/2013 8:56 AM
Stocks quoted in this article:

Earnings are in focus again today -- along with the 1,514 level on the S&P 500 -- as U.S. stocks eye a slightly lower start. In company-specific news, here are some names to watch:

  • Zynga Inc (NASDAQ:ZNGA) issued a positive earnings surprise, booking revenue of $261 million, to top analysts' expectations of $212 million. Excluding items, the online gaming company earned a penny per share, versus estimates for a per-share loss of 3 cents. Ahead of the bell, ZNGA is indicated almost 6% higher. (USA Today)

  • Also, Time Warner Inc. (NYSE:TWX) announced a 51% jump in fourth-quarter earnings to $1.21 per share. On an adjusted basis, the media conglomerate earned $1.17 per share, 7 cents above analysts' estimates. Revenue was nearly unchanged at $8.16 billion, roughly in line with estimates of $8.22 billion. Additionally, TWX upped its quarterly dividend by 11% to 28.75 cents per share. (San Francisco Chronicle)

  • Dow component The Walt Disney Company (NYSE:DIS) announced first-quarter earnings of 79 cents per share (excluding items), on revenue of $11.34 billion. Analysts were targeting per-share earnings of 76 cents and revenue of $11.21 billion. The entertainment giant also plans to get its money's worth for the "Star Wars" franchise, and will release spinoff films in addition to three previously announced sequels. DIS is pointed modestly higher in pre-market action. (CNBC)

  • Liberty Global Inc. (NASDAQ:LBTYA) has offered $23.3 billion to buy out Virgin Media Inc. (NASDAQ:VMED). By doing so, the former will boost its media presence across Europe. (CNNMoney)

  • Nasdaq OMX Group, Inc. (NASDAQ:NDAQ) is reportedly in settlement discussions with the U.S. Securities and Exchange Commission (SEC) regarding the Facebook Inc (NASDAQ:FB) initial public offering. The social-networking stock debuted in May, and its first day of trading did not go smoothly, due in part to technical missteps on the Nasdaq exchange. Sources report that Nasdaq could suffer a financial penalty of up to $5 million. (CNET)

  • Biogen Idec Inc. (NASDAQ:BIIB) is spending $3.25 billion to buy out its partner, Elan Corporation, plc (ADR) (NYSE:ELN), and fully acquire the rights to multiple sclerosis drug Tysabri. Elan will also bank royalty payments for the foreseeable future. In 2012, Tysabri sales rose 8% to $1.6 billion. (Forbes)

  • The U.S. Treasury said it has sold the last of its stake in Citigroup Inc. (NYSE:C), putting up $894 million in C notes for sale. A spokesman for the department said this move was "part of [its] continuing efforts to wind down [the Troubled Asset Relief Program]'s bank investment programs." (Bloomberg)

  • Finally, starting in August, the U.S. Postal Service is saving you a trip to the mailbox on Saturday. In order to cut costs, mail carriers will no longer deliver regular mail on the weekends. Packages, however, will still be delivered six days a week. The change will save roughly $2 billion on an annual basis. (CNBC)

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