News Review: Research in Motion Ltd (NASDAQ:BBRY), Zynga Inc (NASDAQ:ZNGA)

Lakeway, NY -- (SBWIRE) -- 02/27/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Research In Motion Ltd popularly known as BlackBerry Inc (NASDAQ:BBRY) on Tuesday declared that most of its new Z10 smartphone buyers are new to the company’s mobile platform signaling some competitive traction for the struggling company.

Is BBRY Heading Towards New Highs? Find Out Here

More than half of customers who purchased Z10 in Canada and about 33% of Z10 buyers in the U.K. are new to the platform.

Prior to this, UBS analyst Amitabh Passi raised his price target on the stock by 37% to $13 per share but affirmed his neutral rating stating that BlackBerry can lure many users from competing platforms.

“The Z10 is a good product but likely to mainly appeal to Blackberry loyalists,” he wrote in a note to clients. “We remain skeptical existing iOS and Android users will switch to BB10 in meaningful numbers.”

The Q10, which features a QWERTY keypad that is popular with a core base of BlackBerry users, is expected to launch later in the year, though no specific plans have yet been announced by the company.

According to IDC, the BlackBerry platform accounted for about 4.5% of global smartphone shipments in 2012 down 36% from its market share in the prior year.

Zynga Inc (NASDAQ:ZNGA) soared 3% as The state Senate and the Assembly approved Gov. Chris Christie’s recommended changes to an online gambling bill he conditionally vetoed this month.

Has ZNGA Reached The Bottom After The Solid Gain? Get Free trend Analysis Here

“This is a historic moment for Atlantic City and for the state of New Jersey," said Sen. Raymond Lesniak (D-Union), a primary sponsor, who said the measure is "truly a lifeline" for the resort town. “Because of internet gaming, at least one and likely two casinos will not have to close.”

Christie vetoed an earlier version of the bill, saying at the time that "any effort to expand casino gambling outside of Atlantic City must be supported by referendum."

Earlier this month Christie changed his mind and approved the online gambling as long the economic benefits were carefully weighed "against the risks of addiction, corruption, and improper influence."

He also called for collecting more taxes than legislators had proposed — 15% of internet gambling revenues, as opposed to the 10% the original bill would have collected. Casinos currently pay an 8% gross tax on casino revenue, which would not apply to internet wagering under the legislation.

"New Jersey's gaming industry must, like just about everything else in today's economy, offer an internet option if it's to remain competitive," Assemblyman Vincent Prieto (D-Hudson) said in a statement. "This is a carefully crafted plan designed to ensure internet gaming on casino games is offered the right way and is a much-needed competitive step forward for our casinos that could also raise more revenue to benefit senior and disabled citizens."

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