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U.S. Morning Call: Zynga axes outlook; Facebook to report

Thursday, July 26, 2012 - 02:14

July 26 - Zynga slashed its 2012 outlook and quarterly results badly missed Wall Street targets, just as Facebook prepares for its inaugural results.

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More troubles for space but not for Europe here's your morning called this Thursday. Don't -- Zynga the social gaming company -- the red reporting net loss and slashing its outlook after quarterly results badly missed forecasts. Analysts called the report disaster from mark -- -- firm. Several of cut their price targets and ratings on the stock which is at an all time low in the premarket. The IPO price to ten bucks in December 20 Latin. FaceBook taking on the -- as well as it receives about 18% of its revenue from Zynga. FaceBook reports its first quarterly results as a public company after the bell today. The market overall now I'm not concerned about another week report from the tech sector. Dow NASDAQ S&P 500 stock index futures point to a strong open. They're all up about 1% earlier the gains were lower and the NASDAQ was negative territory. The change in sentiment following a forceful defense of the Euro from the head of the European Central Bank. -- -- -- -- The ECB. Is ready to do what ever it takes. To preserve the U room. And believe me it will be enough. Stocks across Europe moving sharply higher following -- remarks. Economic reports out in the US today include weekly jobless claims and durable goods. Thomson Reuters IFR markets -- orders for durable goods climbing 1%. More than twice that consensus forecast. However it says this won't make up for weakness in recent months and won't signal a change direction. I FR agreeing with the consensus on jobless claims expecting a slight decline reports are out at 830. Other stocks to watch today includes Starwood Hotels. The owner of the Westin and Sheraton brands posting better than expected quarterly profit and maintaining its purpose and revenue revenue guidance for the year. And whole foods which says it is -- driving the company's net income jumping 32% in its weakening and weakening economy. Your morning called this Thursday you can follow us on Twitter at Reuters Insider and please check out our Reuters YouTube channel. At Reuters dot com slash Reuters TV I'm Lisa Bernhard this is writers.

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U.S. Morning Call: Zynga axes outlook; Facebook to report

Thursday, July 26, 2012 - 02:14