Shares of social gaming company Zynga (NASDAQ: ZNGA) experienced a wild ride during Monday's trading session after rumors circulated that Facebook (NASDAQ: FB) may be looking to acquire the gaming company.
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On June 22, hedge fund managers Whitney Tilson and Glenn Tongue of T2 Partners disclosed to investors that the two would go their separate ways, leaving Tilson as the sole principal of T2 Partners.
According to the letter, it was after careful consideration that they decided not to manage money together anymore.
New residential construction for June signaled continued signs of recovery. There were 760,000 new housing starts during the month, which was better than economists' estimates of 745,000.
Shares of the third-largest home builder by revenue, Lennar (NYSE: LEN), are seeing increased strength during Wednesday's trading session after the company reported second-quarter results that were better than analysts had expected.
Lennar reported second-quarter EPS of $0.21, versus the estimated $0.17 per share, beating by 23.5%.
Philip Morris (NYSE: PM) cut its full-year EPS guidance on Thursday, citing currency headwinds.
Specifically, Philip Morris revised its 2012 full-year reported diluted earnings per share forecast to a range of $5.10 to $5.20, versus actual results of $4.85 for 2011. This new guidance range was lower than analysts' estimates of $5.23 per share.
Burger King (NYSE: BKW), a fast food hamburger chain, began trading on the New York Stock Exchange once again on Wednesday.
Burger King last traded on a major exchange back in 2010, before it was taken private by 3G Capital.
Swedish music streaming service company Spotify announced on Tuesday that it will begin offering free Internet radio. Spotify's new feature for mobile devices will compete directly with Pandora (NASDAQ: P).
Spotify users in the U.S.
Social media companies seem to be the current popular trend in technology. Social networking giant Facebook (NASDAQ: FB) went public in May, in one of the largest initial offerings in U.S. history.
Shares of Garmin (NASDAQ: GRMN) saw much pressure this week after Apple (NASDAQ: AAPL) unveiled its new Maps app, which is designed to replace the Google (NASDAQ: GOOG) maps that currently appear on iOS devices.
Fitch Ratings today announced that they have cut Spain's long-term rating three notches to BBB from A, keeping the nation on a negative outlook.
Fitch also estimated that the required banking recap is as high as 100 billion euros, or 9% of Spanish GDP.
