Trending Movers to Watch: Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), Zynga Inc (NASDAQ:ZNGA)

On Thursday, Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), added 3.24% and closed at $5.10 in the last trading session. The last trading range of the stock ranges between $5.03 and $5.14. Ericsson (ERIC) is recently holding its annual Shareholder Update event in New York. The company is reporting on its strategy implementation for faster business execution based on its new company structure with three segments: Networks, IT & Cloud, and Media. The new structure was implemented on July 1, 2016.

Ericsson`s strategy builds on efficiency and scale in its core business and investments in the new revenue base from its targeted growth areas. This will facilitate the company to secure leadership in an emerging broader 5G market – from technology to new business models and services – enabling Ericsson to be a strong business partner to existing and new customers.

Jan Frykhammar, President and CEO, Ericsson says: “We are forcefully executing our strategy to drive incremental profit improvements through greater efficiency, monetizing our installed base in Networks and building new revenue base in IT & Cloud and Media. Current focus is on speed, efficiency and fine tuning of strategy execution.”

Zynga Inc (NASDAQ:ZNGA), dropped -0.71% and closed at $2.80 in the last trading session. The last trading range of the stock ranges between $2.75 and $2.86. The company’s Market capitalization is $2.45 Billion with the total Outstanding Shares of 772.57 million. Zynga Inc. (ZNGA), a leading social game developer, recently declared financial results for the third quarter ended September 30, 2016. In addition to recently’s press release, a copy of our Q3 2016 Quarterly Earnings Letter, which outlines our Q3 2016 financial results and business outlook, is available on our website. Zynga administration will host a live Q&A session at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) recently to discuss Zynga’s Q3 2016 performance.

“In Q3, we executed well on our core business and our new launches. Our outperformance in the quarter was because of our over-delivery on CSR2 and advertising. We successfully launched two new, high quality mobile games, and our focus on our key live mobile franchises is paying off as demonstrated by the strong year-over-year growth of Zynga Poker, Social Slots and Words With Friends. As a team, we have shown good momentum in our turnaround in a number of key areas counting (1) delivering new, high quality mobile games, (2) growing our existing, live mobile franchises, and (3) unlocking more operating leverage. Looking forward, we are focused on delivering mass market, high quality social games that drive long term engagement and audience growth,” said Frank Gibeau, Chief Executive Officer of Zynga.

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