Zynga Appoints New Chief Creative Officer (ZNGA)

It seems that departures and appointments of top executives has become a routine affair at Zynga Inc. (NASDAQ: ZNGA). Indeed, on Tuesday, the social gaming company announced that it has appointed Tim LeTourneau as its new Chief Creative Officer.  LeTourneau will fill the position which was left vacant by Mike Verdu, who left Zynga in August to pursue his own entrepreneurial venture.

Prior to joining Zynga about two years ago, LeTourneau, worked at Electronic Arts for almost two decades.

LeTourneau was VP in-charge of FarmVille 2, which turned out to be as the most successful game launch in last two months, before becoming as the new Chief Creative Officer.

LeTourneau will now be responsible for supervising game designs across-the-board, moving away from his earlier role where looked after day to day operations of FarmVille 2.  LaTorneau will directly report to Steve Chiang, who is President of Games while Maureen Fan has been appointed as FarmVille 2’s general manager.

Lately, Zynga has made many high profile hiring and acquisitions. For instance, recently it bought core game studio A Bit Lucky and also roped in John Tobias, a co-creator of Mortal Kombat-a series of fighting games.

Besides there have been many other high profile changes at top management level that did not received much attention.  For instance: Allan Leinwand, left his job as CTO of Infrastructure in Zynga on September 10  to become VP and CTO at ServiceNow, a cloud computing service company. Allan’s departure was followed by Jeff Karp, who left Zynga on September 22. Karp was the Chief Marketing and Revenue Officer.

John Schappert, who worked as Chief Operating Officer, departed Zynga on August 8. At Present, Zynga’s CEO, Mark Pincus seem to have taken over Schappert’s role. Pincus is believed to be working in close co-ordination with David Ko and Steve Chiang for developing games.

Alan Patmore, who worked as the Studio GM, departed Zynga on August 23. He is now VP of Product at Kixeye.  On August 28, Mike Verdu left his position as chief creative officer (which is now taken over by Tim Tuorneau).

 

Chico’s FAS Reports Q3 Results (CHS)

Chico’s FAS Inc. (NYSE: CHS), a specialty retailer of private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items under brands names such as Chico’s, White House/Black Market and Soma Intimates, today reported its financial results for the third quarter ended October 27, 2012.

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Groupon Shares Rally After Hedge Fund Acquires 9.9% Stake (GRPN)

Shares of daily deals site Groupon Inc. (NASDAQ: GRPN) rallied in trading today after New York City-based hedge fund Tiger Global Management LLC disclosed in a filing that it acquired a 9.9% stake in the Chicago-based company.

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Micro-Caps in Focus; E-Debit Global Corp. (WSHE), Yellow7 Inc. (YLLC), Intelligent Living Corp. (ILVC)

Shares of E-Debit Global Corp. (PINK: WSHE), operating in the non-conventional banking industry in Canada, are soaring in trading today. At last check, WSHE shares were trading 42.11% higher at $0.0270 on above average volume of 12.99 million. The stock hit an intra-day high of $0.04 today and has now gained more than 1160% in the last three trading sessions.

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Major Gainers and Losers in Early Trading on November 20; DSW, HPQ, CLNE, BBY

Shares of DSW Inc. (NYSE: DSW), a branded footwear and accessories specialty retailer, are soaring in early trading today. At last check, DSW shares were trading 9.50% higher at $68.21 on above average volume of 823,423. The stock hit a 52-week high of $69.35 today. DSW shares have gained nearly 17% in the last three trading sessions.

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Micro-Caps on the Move; Greenway Technology (GWYT), Bio Matrix Scientific Group Inc. (BMSN), eLayaway Inc. (ELAY)

Shares of Greenway Technology (PINK: GWYT), a company planning to operate as Andalusian Resorts and Spas with properties located in Palm Springs, California and Las Vegas, are seeing a huge rally in trading today. At last check, GWYT shares were trading 36.11% higher at $0.0980 on above average volume of 8.84 million. The stock hit an intra-day high of $0.17 today. GWYT shares have now gained 98% in the last three trading sessions.

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Lowe’s Posts Strong Quarterly Earnings (LOW, HD)

Shares of Lowe’s Companies Inc, (NYSE: LOW) rallied on Monday following the announcement of fiscal third-quarter results which saw profits climbing 76% thanks to better-than-expected revenue growth and cost cutting measures while fewer onetime charges also boosted the bottom line.

For the current quarter, world’s second largest home improvement chain in terms revenue is now expecting same-store-sales to grow by 1% compared to its earlier guidance of 0.5%.

In order to compete with more ferocity against its larger rival Home Depot Inc (NYSE: HD), Lowe’s has been reshaping its operations.

Lowe’s, which currently operates 1,750 stores across the United States, Canada and Mexico, is now focusing on ‘everyday-low-price strategy’ to pull in more customers to its stores; besides, it’s also evaluating its existing product line with vendors in order to improve its merchandising and simultaneously lower the unit costs.  The ultimate objective for Lowe’s is to make online selling a flawless part of shopping experience.

Nevertheless, back in August the company’s executives did mention of miscalculating the time required by its vendor to respond to changing shopping habits.

Commenting over the results, Lowe’s Chief Executive, Robert Niblock said that Lowe’s was “keenly focused” in strengthening its core business. Niblock described third quarter results as “solid” and added that company’s performance with regard to implementing strategies was “improving”.

For the fiscal third quarter which ended November 2, the Company reported net profit of $396 million or 35 cents a share, up from $225 million or 18 cents a share, in the corresponding period of last year. For the recently concluded quarter, the company took onetime charge of 5 cents a share which was associated to one discontinued project, impairment of long-lived asset and alteration in the discount rate applied to self-insurance claims. In the year earlier quarter the Company took a onetime charge of 18 cents a share linked to store closures, discontinued projects and impairment charges against long-lived assets.

Net sales for the period soared 1.9% to $12.07 billion. Same-store-sales climbed 1.8%, for the third quarter.

Analysts polled by Thomson Reuters had most recently forecasted earnings of 35 cents on revenue of $11.92 billion.

In spite of 1.5% increase in input costs, gross margin showed improvement at 34.32 %, up from 34.06%, in the year earlier quarter.