Highest Volume Stock Movers: Sprint, Zynga, Citigroup, Cisco

Sprint Nextel Corporation (NYSE:S): Sprint is set to release earnings on Wednesday, February 8, 2012. The average estimate of analysts is for net loss of 38 cents per share, a wider loss from the year earlier quarter net loss of 29 cents.

Zynga Inc (NASDAQ:ZNGA): Zynga February call option implied volatility is at 131, March is at 113; above its 5-week average of 62 according to Track Data, suggesting larger price movement into the expected release of Q4 results on February 14.

Citigroup Inc. (NYSE:C): Switzerland said it’s investigating 12 U.S., European and Japanese banks suspected of conspiring to manipulate interbank lending rates used to set interest rates on hundreds of trillions of dollars of securities, reports Reuters. The Swiss Competition Commission said it had received information of possible collusion between derivative traders involving the London Interbank Offered Rate (Libor) and the Tokyo Interbank Offered Rate (Tibor). Banks under investigation include Bank of Tokyo-Mitsubishi UFJ, Citigroup (NYSE:C), Credit Suisse (NYSE:CS), Deutsche Bank (NYSE:DB), HSBC Holdings (NYSE:HBC), JP Morgan Chase (NYSE:JPM), Mizuho Financial Group (NYSE:MFG)., Rabobank Groep N.V., Royal Bank of Scotland (NYSE:RBS), Societe Generale (SCGLY), Sumitomo Mitsui Banking Corp. and UBS (NYSE:UBS).

Cisco Systems, Inc. (NASDAQ:CSCO): After conducting checks, Stifel Nicolaus expects Cisco’s switching, UCS and unified communication products to outperform and the firm expects the company’s guidance to be solid. The firm raised its target on the stock to $23 from $20 and maintains a Buy rating.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com