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Los Angelas, CA -- (SBWIRE) -- 10/25/2012 -- Zynga Inc (NASDAQ:ZNGA) stock surged 13.90% to $2.43 in the opening session after the company reported a third-quarter net loss of $53 million or $0.07 per share, as compared with net income of $13 million or breakeven earnings per share last year. Adjusted loss for the quarter was $0.4 million or nil per share, as compared with net income of $32 million or $0.04 per share a year ago. Revenues for the quarter rose to $317 million from $307 million in the prior year. Analysts expected a loss of $0.01 per share on revenue estimate of $256.43 million for the quarter. Separately, investors are also cheering the company’s surprise announcement of a $200 million buyback program.
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Sprint Nextel Corporation(NYSE:S) traded down 0.35% on Wednesday, hitting $5.63. Sprint Nextel has a 52-week low of $2.10 and a 52-week high of $6.04. The company’s market cap is $16.892 billion. Sprint Nextel last announced its earnings results on Thursday, July 26th. The company reported ($0.46) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.41) by $0.05. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Sprint Nextel will post $-1.66 EPS for the current fiscal year. Sprint Nextel Corporation(NYSE:S) is a holding company, with its operations primarily conducted by its subsidiaries.
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The Procter & Gamble Company (NYSE:PG) increased core earnings per share by five percent to $1.06 for the July-September quarter. Diluted net earnings per share from continuing operations were $0.96, a decrease of five percent due to non-core charges of $0.10. Organic sales grew two percent. Net sales were $20.7 billion, a decrease of four percent versus the prior year period including a negative six percent impact from foreign exchange. The Company continued to deliver broad-based organic sales growth, with four of five business segments increasing versus the prior year. P&G said it held or grew market share in businesses representing over 45% of sales in the July - September quarter, as measured on a constant currency value basis. In the U.S. market, P&G held or grew value share in businesses representing nearly 60% of sales.
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LSI Corporation (NYSE:LSI) designs, develops and markets storage and networking semiconductors. The Company offers a portfolio of capabilities, including custom and standard product integrated circuits that are used in hard disk drives, solid state drives, high-speed communications systems, computer servers, storage systems and personal computers. LSI provides products for original equipment manufacturer (OEM), companies, in the server, storage and networking industries. LSI Corp. (NYSE:LSI) forecast on Wednesday revenue below expectations as slow PC sales and a weak economy hurt demand for storage controllers. Third-quarter revenue from continuing operations was $624 million. Analysts were expecting revenue of $637 million for the third quarter. LSI said non-GAAP income per share from continuing operations in the fourth quarter would be between 11 cents and 17 cents.
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