New Zynga CEO Wanted to Buy Company and 2 Other Hot Stocks to Watch
Zynga (NASDAQ:ZNGA): Current price $3.31
Sources told Bloomberg on Monday that Don Mattrick, the former Microsoft Corp. entertainment division chief taking over as the new Zynga CEO, wanted to run all or most of the company for three years or more. In 2010, Mattrick had discussions with Zynga founder Mark Pincus in regards to buying the games maker, according to Bloomberg’s sources, with the idea of boosting Microsoft’s Xbox lineup with social games that at the time were bringing millions of users to Facebook ’s network weekly. However, sources say that the talks ultimatey collapsed.
Sprint Nextel Corp. (NYSE:S): Current price $7.04
When SoftBank Corp. takes control of Sprint Nextel Corp., the majority of shares have chosen to receive cash for the firm. Some 53 percent of Sprint’s outstanding shares voted to take money in a preliminary election connected with the merger on Friday, Sprint and SoftBank said Monday. Shareholders who decided to take cash will receive $5.65 in cash and 0.26174408 shares of new Sprint common for each common share they hold. Roughly 3 percent of shares preferred to receive shares of Sprint common stock, and 44 percent of outstanding shares that did not vote will get cash.
Bank of America Corp. (NYSE:BAC): Current price $13.28
Winston Cheng of Goldman Sachs has been recruited by Bank of America Merrill Lynch to become its Asia ex-Japan head of tech, media, and telecommunications banking group, according to a memo reviewed by Reuters on Monday. Cheng will be based in Hong Kong. He served as the chief of Goldman Sach’s Asia ex-Japan tech group and also led the bank’s consumer retail group for Asia ex-Japan between 2011 and 2012.