4 Tech Stock Stories Getting Thursday Traction
Zynga Inc. (NASDAQ:ZNGA): Closing price $3.02
On Thursday, Evercore upgraded the gaming firm, whose offerings include FarmVille, Draw Something, and Words With Friends, from Underweight to Equal Weight. Shares closed up 0.67 percent on the day. Reasons given for the optimism leading to the change include increasing user engagement.
Vodafone Group plc (NASDAQ:VOD): Closing price $33.40
Vodafone Germany reported on Thursday that it has the target in an attack on its data servers through which hackers gained access to the personal information of some 2 million customers. Data stolen included names, addresses, dates of birth, gender, sort codes, and account numbers, according to the company website, which added that the hacker did not get access to credit card information, passwords, PIN numbers, mobile phone numbers, or data connections. The attack was discovered by Vodafone and was forced to stop. Subsequently, Vodafone said that an individual had been identified by the police and their assets have been seized.
Google Inc. (NASDAQ:GOOG): Closing price $893.06
Analyst Brian Pitz at Jefferies on Thursday reiterated a Buy on Google shares, saying that Google Shopping conversion rates — the number of customers willing to look at or purchase a product after seeing an ad — has improved in 11 of the past 12 months. Pitz wrote that Google’s transitioning of advertisers to its paid Google Shopping program is “gaining traction” with improved sales conversion rates each month, and that those rates have climbed an average 9.7 percent every month, commenting that, “This remains a key tailwind for Google and bodes well for the current quarter.”
Extreme Networks, Inc. (NASDAQ:EXTR): Closing price $4.33
Extreme Networks and Enterasys Networks, Inc. said on Thursday that Extreme Networks will acquire all outstanding stock of Enterasys in an all-cash transaction worth $180 million. The combined entity will be committed to continue to back the product roadmaps of both firms going forward, guarding the investments of current customers and thus averting any disruption to businesses. The companies’ revenue will be roughly twice that of either firm by itself. What is more, significantly increased scale should permit greater investments in research and development to accelerate innovation and bring better technologies and products to market more quickly.
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