Tech Business Roundup: Zynga Continues Big Changes, Apple Saves Best Buy
After buying OMGPOP, Zynga (NASDAQ:ZNGA) files an amended registration (S-1) with the SEC. This will allow the company to sell more than 42.9 million of its common stock shares as it pleases.
In a recent 3-month period, Best Buy (NYSE:BBY) nearly equalled Apple (NASDAQ:AAPL) in overall sales of iPhones, by selling 13 percent of the devices against Apple’s 15 percent, according to Consumer Intelligence Research Partners. Of iPhone sales –including those by AT&T (NYSE:T), Sprint (NYSE:S), and Verizon (NYSE:VZ) — 76 percent took place at retail stores, and 24 percent were online.
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Four board members resign from online video software producer KIT Digital (NASDAQ:KITD), and its shares decrease the most since 2009. A search for a full-time permanent CEO for the company is ongoing, and its current CEO will become chairman of the board while its chief administrative officer will be acting CEO for the search duration.
Flash sales site Vipshop’s (VIPS) initial public offering disappoints, as shares are trading considerably down from the offering price of $6.50. Could the problem in part be due to 2011’s $107.3 million net revenue loss, on sales of $227.1 million?
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Charter Communications (NASDAQ:CHTR) gets positive reaction from Morgan Stanley, which projects that impressive gains in subscribers will continue in the first quarter, and foresees a successful operating turnaround for the new CEO. Charter’s price target rises to $78.
A Windows Phone (NASDAQ:MSFT) version of Angry Birds Space, developed by Rovio, might be available soon, according to CEO Mikael Hed, putting the kabosh on negative comments from CMO and “Mighty Eagle” Peter Vesterbacka. Rovio’s Finnish peer Nokia (NYSE:NOK) will certainly pay attention to this development.
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Customers of TiVo (NASDAQ:TIVO) can sign a one-year service agreement and pay a lower monthly fee of $15. At the same time, the company hikes the storage capacity on the TiVO Premiere to 500 gigabytes, while raising the hardware unit’s price to $150.
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