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Fly News Breaks for April 9, 2015
ZNGA
Apr 9, 2015 | 08:27 EDT
Needham thinks "very little" in Zynga's CEO transition can be construed positively. It notes the founder, who was replaced less than two years ago after a poorly executed IPO and subsequent revenue decline, is being brought back to replace a more recent CEO whose turnaround efforts it views as "having been incomplete at best." The firm suspended its rating on Zynga amid uncertainty over the company's fundamental prospects.
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