Fitbit, Zynga, Jones Energy, and More: Here’s Why These Stocks Are On The Move

Game maker Zynga Inc. (NASDAQ:ZNGA) dipped in after hours before recovering after it reported EPS of $0.01 per share on sales of $233.2 million for Q3. The consensus was for $0.04 per share and $249.43 million. Part of the reason for the underwhelming results was average daily active users falling to 22 million versus 23 million in the previous quarter. Q4 guidance is for $235 million in sales and bookings of $250 million. Despite the underwhelming results, management is confident on the company’s long term ability to grow profitability. 23 elite funds owned around $484 million worth of Zynga Inc. (NASDAQ:ZNGA) at the end of June. Speaking of games, check out the 10 Best Selling Video Games in 2018.

AXT Inc (NASDAQ:AXTI) is in the red by around 5% in after hours despite reporting better than expected top and bottom line results for Q3. EPS was $0.10 versus the estimate of $0.09 and sales was $28.6 million, beating the consensus of $28.14 million. One potential reason for the weak price action could be guidance. Management sees lighter than expected Q4 EPS guidance of $0.05-$0.07 per share, versus the estimate of $0.09 per share. Sales for Q4 is seen coming in at $26.5-$27.5 million, under the consensus of $28.14 million. 9 top funds we track were long AXT Inc (NASDAQ:AXTI) as of the most recent 13F filing period.

Disclosure:None