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News Summary: Zynga stock tanks after weak 2Q

By The Associated Press
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WHAT HAPPENED: Zynga’s stock tanked after the online game maker reported a loss in the second quarter, with adjusted earnings and revenue below Wall Street’s muted expectations.

WEAK OUTLOOK: The company also said it now expects adjusted earnings of 4 cents to 9 cents per share for all of 2012. In April, it had forecast adjusted earnings between 23 cents and 29 cents per share. Analysts had been expecting 26 cents.

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