Home Business Market News: Expedia, Starbucks, Zynga, Pearson, Activision Blizzard

Market News: Expedia, Starbucks, Zynga, Pearson, Activision Blizzard

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Post Market Update

Stocks that were active in U.S. trading on Friday include Expedia Inc (NASDAQ:EXPE), Starbucks Corporation (NASDAQ:SBUX), Zynga Inc (NASDAQ:ZNGA), Pearson Plc (NYSE:PSO) (LON:PSON) and Activision Blizzard, Inc. (NASDAQ:ATVI).

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Market Levels

  • U.S.: Dow Jones: 15,530.47 (-0.16%), S&P 500: 1,689. (-0.07%), Nasdaq: 3,608.21 (+0.08%)
  • World Markets: Shanghai: 2,010.85 (-0.51%), Nikkei 225: 14,129.98 (-2.97%), Hang Seng Index: 21,968.95 (+0.31%), TSEC: 8,149.40 (-0.17%), FTSE 100: 6,554.79 (-0.50%), EURO STOXX 50: 2,741.96 (+0.06%), BSE Sensex: 19,748.19 (0.00%)
  • Metals: Gold: $1,321.50 (-0.55%), Silver: $19.77 (-1.90%), Platinum: $1,422.80 (-1.73%)
  • Currency: EUR/USD: 1.3268 (+0.19%), USD/JPY: 98.24 (-1.33%), GBP/USD: 1.5367 (+0.05%), USD/CAD: 1.0292 (+0.07%), USD/CNY: 6.1316 (-0.05%), AUD/USD: 0.9240 (+0.28%)
  • 10 year U.S. Treasury: 2.49% (-0.03), 30 year U.S. Treasury: 3.58% (-0.03)

Market & Economy Update

A survey by Thompson Reuters showed that consumer sentiment index surged to its highest level since 2007 in July. The consumer sentiment index came at 85.1 in July compared to 84.1 in June amid rising stock and jobs market. Major stock indexes ended the session almost flat. The Dow Jones Industrial Average was down 9.79 points to 15,545.82, the S&P 500 Index edged up 0.04 points to 1,690.27, while Nasdaq rose 5.84 points to 3,611.03.

Stocks In Focus

Expedia Inc (NASDAQ:EXPE)

The online travel agent reported a 32% decline in its second quarter earnings due to higher costs, though revenues increased marginally. Expedia Inc (NASDAQ:EXPE)’s net earnings came at 64 cents with $1.21 billion in revenues. Analysts were expecting 79 cents in earnings and $1.26 billion in revenues. Expedia shares plunged 27.12% to $47.38.

Starbucks Corporation (NASDAQ:SBUX)

The coffee chain reported an impressive 25% increase in the third quarter earnings as the company witnessed same store sales growth in all regions. Starbucks Corporation (NASDAQ:SBUX) posted 55 cents per share in earnings and $3.74 billion in sales, compared to the consensus estimate of 53 cents and $3.72 billion respectively. The company also issued optimistic full year guidance. Shares rose 7.61% to end the trading session at $73.35.


Zynga Inc (NASDAQ:ZNGA)’s second quarter losses narrowed as it cut expenses. The company’s earnings came at 1 cent a share on sales of $188 million. Analysts were expecting the company to post $183 million in revenues and 4 cents in losses. Moreover, Zynga Inc. (NASDAQ:ZNGA) announced it will stay away from real money gambling in the U.S. Shares tanked 14% to end the session at $3.01.

Pearson Plc (NYSE:PSO) (LON:PSON)

The media and educational services firm said that it will keep restructuring its business to increase focus on high growth markets and digital revolution. American shares of the company rose 5.41% to end the trading session at $20.45.

Activision Blizzard, Inc. (NASDAQ:ATVI)

Activision Blizzard, Inc. (NASDAQ:ATVI) has finally reached an agreement to buy Vivendi SA’s stake in the company for about $6 billion. Activision Blizzard will be purchasing 429 million shares at $13.60 a share. That’s a 10% discount to its closing price on Thursday. The deal will reduce Vivendi’s stake in the company from 61% to 12%. Shares surged 15.02% to $17.45 at the end of market trading.

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