RPX REPORTS Q2 Results and 2 Stocks Hitting 2-Week Lows
Overseas Shipholding (NYSE:OSG) stated earlier today, “In July we drew down the full remaining availability under our revolving credit facility and now have cash reserves of over $550 million. We believe this was a prudent step given the ongoing difficult market conditions. We are in discussions with our main banks to put in place long-term financing that provides sufficient liquidity to manage through an extended downturn in our International Flag tanker markets. At the same time, we are pursuing other liquidity raising options available to the Company.” The shares closed at $5.75, up $0.03 or 0.52% on the day. They have traded in a 52-week range of $5.63 to $21.90.
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Rpx Corporation (NASDAQ:RPXC) reported a Q2 revenue totaling $55.2 million, consensus $51 million, according to the results which were reported last night. The shares closed at $9.67, down $2.88 or 22.95% on the day. They have traded in a 52-week range of $11.02 to $27.16.
Zynga Inc. (NASDAQ:ZNGA): Lawsuits against Zynga (NASDAQ:ZNGA) are beginning to pile up with allegations that executives are being secretive in regards to decreasing revenue and user growth, Reuters reports. Two California law firms have filed suits seeking class-action status this week, alleging that the company concealed threats concerning its sales and business growth. The shares closed at $2.81, down $0.14 or 4.75% on the day. They have traded in a 52-week range of $2.85 to $15.91.
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