Zynga WEAKENS Facebook and 2 Stocks that Have Hit 52-Week Lows

Ubiquiti Networks’ (NASDAQ:UBNT) share weakness is being blamed upon unconfirmed blog posts speculating around a Securities and Exchange Commission inquiry. Shares closed down 14.8 percent on the day at $10.88, and have traded in a 52-week range of $11.19 to $35.99.

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WellPoint, Inc. (NYSE:WLP) posted second quarter earnings that decreased 8.3 percent year-over-year from 2011, and also reduced its 2012 guidance. Subsequently, the firm’s board affirmed its support for WellPoint’s leadership under Chief Executive Angela Braly, according to the Wall Street Journal. Shares closed down 1.15 percent on the day at $53.39, having been traded in a 52-week range of $53.26 to $74.73.

Zynga Inc. (NASDAQ:ZNGA), which provides video games to users of Facebook (NASDAQ:FB), on Wednesday night posted far lower than anticipated second quarter earnings per share, and provided much weaker than expected 2012 earnings guidance. Facebook is due to report its second quarter results Thursday night, which will mark it’s initial earnings report as a public company. Consensus for Facebook’s second quarter is 12 cents, on revenue of $1.15 billion. On Thursday morning, analyst Piper Jaffray estimated in a note to investors, that Zynga’s shortfall could have a negative impact of only 1 percent on Facebook’s results. The calculation was based upon Facebook’s utilization of games made by firms other than Zynga, and also Zynga’s typical percentage of Facebook’s revenue. Facebook might yet post stronger than anticipated second quarter results, said Piper, which kept a price target of $41 and its Overweight. Zynga shares closed down 37.6 percent on the day at $3.17, and have traded in a 52-week range of $4.45 to $15.91.

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