Reuters: Hot Stocks: Zynga jumps more than 7 percent on news Jana Partners took position

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Zynga jumps more than 7 percent on news Jana Partners took position May 15th 2013, 15:03 BOSTON | Wed May 15, 2013 11:03am EDT BOSTON May 15 (Reuters) - Zynga Inc. shares jumped 7.6 percent to $3.57 in morning trading Wednesday, shortly after hedge fund manager Barry Rosenstein said his Jana Partners had taken a new stake in the online games developer earlier this year. The stock price had been under pressure for some time as investors reacted to its slow transformation into a gaming company that's focused on mobile devices such as smartphones and tablets. Jana Partners, which often pressures the companies it invests in to adjust their business strategies, released its so-called 13-F filing Wednesday, which describes which U.S. stocks it owned at the end of the first quarter of 2013. Jana owned 24.6 million class A shares of Zynga, according to the filing, which did not say when the hedge fund bought the stock or what it paid for it. During the first quarter, the Jana Partners fund was up 6.1 percent. (Reporting by Svea Herbst-Bayliss; Editing by Bernadette Baum)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions