4 Tech Stock Stories Noisily Closing Out the Trading Week

Zynga (NASDAQ: ZNGA): Current price $2.71

Zynga shares were downgraded Friday at Morgan Stanley from Equalweight to Underweight, and their price target was reduced from $3 to $2.60. Analyst Scott Devitt perceives an unattractive risk/reward and believes that the firm’s transition to mobile will more time and cut deeper than has been anticipated. What is more, he thinks that Zynga is being beaten by competitors in web gaming, commenting that “According to DAU estimates compiled by AppData, Zynga has been passed by competitors in web gaming and its key titles are diminishing in presence among the top Facebook games. Zynga is shifting its focus towards mobile gaming where barriers to entry are lower, which makes hit games harder to come by. Recent launches like Draw Something 2, Running With Friends, Solstice Arena, and Battlestone all appear to be quality titles, but only Running (top 10 in downloads, top 30 grossing on iOS) has shown signs of sustained traction so far.”

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ZNGA

AOL (NYSE:AOL): Closing price $34.82

AOL has revealed that it is developing a Reader of its own, which is called AolReader, and currently in private beta. Months ago, Google reported the impending end of its Reader product, and its quite large community of hardcore followers were very inconvenienced. The device is not a mainstream, hugely popular product, which might partly explain why Google is putting it down, together with Larry Page’s plan to simplify and streamline the projects that Google backs.

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AOL

Facebook (NASDAQ: FB): Closing price $24.53

UBS upgraded Facebook from Neutral to Buy on Friday, with a price target rise from $28 to $30. Analyst Eric J. Sheridan predicts that new monetization endeavors at Facebook will place upward pressure on Street estimates. Sheridan remarked that ”Based on our checks, Facebook plans to begin selling Newsfeed video ads in the second half 2013. Our estimates assume that Facebook will be able to monetize daily video ad slots in the sevenfigure range. Our checks also indicate that FB will also begin serving ads on Instagram (no advertising to date) during 2H 2013. In both cases, Facebook must be careful not to overly disrupt the user experience.”

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FB

JinkoSolar Holding Co. (NYSE: JKS): Current price $8.50

The worldwide solar PV power product maker announced Friday that it has supplied 25.8 megawatts of high-efficient solar PV modules to India’s first private solar park. Located in Mandrup Village, Solapur District, Maharashtra State, the project was created by Enrich Energy Pvt Ltd. on a turnkey basis. The latter was a pioneer in India concentrated upon developing large scale private solar parks.

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JKS

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