Analyst Calls Zynga an Underperformer Days Before Its IPO

Sterne Agee has initiated coverage of Zynga with an underperform rating before the San Francisco social games company even has a chance to go public.
Zynga's FarmVille with crops whithering.

GameStop: Bulls Loyal Despite Weak Video Game Sales

GameStop shares are showing impressive resiliency in the face of the fifth straight month of declining sales of video game hardware and software. As I noted yesterday, July data from research firm NPD Group showed a 37 percent drop in video game hardware sales, and a 26 percent drop in console and handheld hardware sales. The report comes just days ahead of GameStop’s earnings report for its fiscal second quarter ended July, which is due before the open on Thursday, August 20.

Microsoft: Price Cut Coming on Xbox 360 Pro?

Microsoft (MSFT) may be planning to cut the price of its Xbox 360 Pro game console next week by $50, according to Sterne Agee’s Arvind Bhatia. The console currently sells for $349.99 at retail.