SOURCE: Five Star Equities

Five Star Equities

October 10, 2012 08:20 ET

Glu Mobile and Zynga Shares Fall Sharply after Outlook Lowered by Zynga

Five Star Equities Provides Stock Research on Glu Mobile and Zynga

NEW YORK, NY--(Marketwire - Oct 10, 2012) - Mobile gaming leaders Glu Mobile and Zynga have been gaining attention among investors recently for different reasons. Shares of Glu Mobile have surged after announcing a gambling deal with Probability PLC, while Zynga shares plunged after lowering its full-year outlook for bookings. Five Star Equities examines the outlook for companies in the Multimedia & Graphics Software Industry and provides equity research on Glu Mobile Inc. (NASDAQ: GLUU) and Zynga Inc. (NASDAQ: ZNGA).

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Glu Mobile recently announced that Probability PLC, the UK's only publicly-traded mobile gambling company, will use the company's existing games to create Glu branded mobile slot games.

"We believe that mobile gambling momentum is beginning to accelerate on a global basis, and with this deal, Glu becomes an early mover. We anticipate that as additional markets around the world open up to real-money mobile gaming, we will expand our investment in the subsector," said Niccolo de Masi, Chief Executive Officer of Glu Mobile. "We view real-money mobile gaming as an opportunity to extend the reach of our successful original IP to new demographics, as well as deepen engagement and rewards for our players."

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Zynga fell as much as 20 percent after reporting it now expects full-year bookings to be between $1.085 billion to $1.1 billion, down from their estimate of $1.15 billion to $1.225 billion in July. Shares of Zynga are down more than 75 percent from their initial IPO price of $10.00 per share last December.

"The reduced performance of some of our live Web games is continuing to impact results and we have several new games which are at risk of launching later than expected," CEO Mark Pincus wrote in a letter posted to Zynga's blog.

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