6 Buzzing Stocks: Zynga Prices IPO, Pfizer Heading Higher and Molycorp Jumps 3%
Zynga (NASDAQ:ZNGA) will be in the spotlight Friday. The social gaming company priced its initial public offering at $10 per share. It was previously estimated to price at $8.50 to $10 per share. Skeptics still remain, as other social stock offerings such as LinkedIn Corp. (NYSE:LNKD) and Groupon Inc. (NASDAQ:GRPN) have performed poorly this year.
Don’t Miss: Zynga Raises $1 Billion in IPO.
Shares of Pfizer Inc. (NYSE:PFE) are receiving a 1 percent boost this morning. The company said a Phase III study of its Lyrica drug met each of its three co-primary endpoints. The drug is for restless-leg syndrome. Other pharmaceutical companies such as Bristol Myers Squibb Co. (NYSE:BMY) and Merck & Co. (NYSE:MRK) are also trading higher.
Molycorp Inc. (NYSE:MCP) is jumping more than 3 percent before the opening bell. The rare earth company won approval from the U.S. Bureau of Land Management to drill near its operating in Mountain Pass, California.
Investing Insights: Goldman Sachs Loves These 9 Tech Stocks.
Darden Restaurants Inc. (NYSE:DRI) is trading down 1.17 percent this morning. The parent company of the Olive Garden and other restaurants reported that fiscal second quarter net earnings decreased 28 percent to $53.7 million (40 cents per share).
Shares of Adobe Systems Inc. (NASDAQ:ADBE) are climbing 5.09 percent after the opening bell. The company announced fourth quarter profits of $173.7 million (35 cents per share), compared to $269 million (53 cents per share) last year.
Cablevision Systems Corp. (NYSE:CVC) is trading more than 13% lower after being downgraded from buy to hold at ISI Group. The company also unexpectedly announced that its chief operating officer will be leaving the company.