Zynga Inc CEO Has Investors Nervous, Posts Big Loss Midday


Today’s top Wall Street gainers midday are International Tower Hill Mines Ltd (NYSEMKT:THM), Ciena Corporation (NYSE:CIEN) and Bio-Reference Laboratories Inc (NASDAQ:BRLI). On the losing end are Zynga Inc (NASDAQ:ZNGA), Rite Aid Corporation (NYSE:RAD) and PVH Corp (NYSE:PVH).

International Tower Hill Mines Soars

Up +22.45%, International Tower Hill Mines Ltd (NYSEMKT:THM) is today’s top midday gainer. The long-time John Paulson bet is up +43.9% this year.

Following International Tower Hill Mines is Ciena Corporation (NYSE:CIEN). The share price of the communications network maker surged +18.8% on the heels of the company’s quarterly results announcement. Ciena beat earnings per share expectations by $0.04 and provided upbeat guidance for the quarter ahead. Billionaire investor George Soros upped his stake in the company in Q1.

Bio-Reference Laboratories Inc (NASDAQ:BRLI) is also having a strong Thursday, as its price jumped +15.61% early in the day. The company announced record second quarter results today, including the highest recorded revenues in a quarter in corporate history. Tiger Global initiated a position in the clinical lab operator in March 2013.

Dogged by CEO Concerns, Zynga Slides

Social game maker Zynga Inc (NASDAQ:ZNGA) posted a -14.98% loss midday today. The reason? Perhaps the company’s CEO. The company has undergone quite an overhaul since the arrival of Don Mattrick in July, including the departure of several key figures. And Mattrick’s presentation at a conference this week has investors and analysts nervous.

Rite Aid Corporation (NYSE:RAD) dipped -9.29%. The drugstore chain said today that it expects to fall short of profit expectations and lowered its 2015 fiscal earnings expectations as well. Hedge fund manager David Einhorn has been gradually scaling back his allocation in Rite Aid in recent quarters, and George Soros initiated a position in Q1.

The share price of PVH Corp (NYSE:PVH) fell -7.1% after missing the mark on earnings and lowering its full-year guidance. Both Jorge Lemann and Leon Cooperman have maintained positions in the apparel company across several quarters.

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