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Additionally, an analyst lowered his estimates and said the video game maker won’t live up to Wall Street’s expectations. Sterne Agee analyst Arvind Bhatia said he expects disappointing fourth-quarter results and first-quarter outlook for the San Francisco company. He rates Zynga shares “Neutral” and trimmed his booking estimates for both periods. Bhatia said investors expect the company to return to growth soon, but he disagrees.
JetBlue Airways Corporation(NASDAQ:JBLU) shares increased 3.47% to $9.25. The company on Jan. 21 announces the appointment of David Campbell to the position Vice President, Technical Operations, effective immediately. In this role, Mr. Campbell will ensure efficient operations, manage the safety of the fleet and lead the airline’s technical operations team. Mr. Campbell will report directly to the airline’s senior vice president of operations, Jeff Martin.
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Alcatel Lucent Soci (NYSE:ALU) shares gained 0.48% to $4.16. ALU shares on Jan. 16 downgraded to Equal Weight from Overweight at Evercore. Evercore downgraded ALU based on valuation.
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Additionally, Alcatel-Lucent (Euronext Paris and NYSE: ALU) and BT on Jan. 21 announced trial speeds of up to 1.4Tb/s with a record spectral efficiency of 5.7 bits per second per Hertz (b/s/Hz) on an existing core fiber connection. This is believed to be the fastest speed ever achieved in commercial grade hardware in a real-world environment and is equivalent to transmitting 44 uncompressed HD films in a single second.
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Last month, Microsoft CEO Steve Ballmer agreed to buy-out a Sacramento Kings controlling stake taking the value of the National Basketball Association franchise to a record $525 million. He has also proposed that the team be relocated to Seattle.
Not only are both the deals high-profile but controversial as well. The Kings have spent the last 28 years in Sacramento where they have seen 10 playoff runs and 18 sold-out seasons. Hansen’s plan of having the team relocated has met with large-scale protests in the Kings hometown. Though there is no revenue generation in Valaint’s Pinterest funding it holds high value amongst Web startups which are very closely held.
SuperSonic Thunder
CEO of CB insights, a research firm that specializes in tracking private equity and venture capital said that Pinterest’s business is not yet clearly defined and so all the betting that is taking place is only on potential. It has to be taken on a case-by-case basis but the main concern is when bad money chases rock star companies. Though Hansen’s investment interests are concentrated largely in the Bay Area, he has been a sports fanatic since his Seattle days. The San Francisco-born Hansen moved to Seattle and was a die-hard NBA SuperSonics supporter. The Seattle-based team was eventually sold after 41 years and shifted to Oklahoma City in 2008 where they moved onto becoming The Thunder.
Facebook Interest
Seattle basketball fans are looking forward to seeing some professional games returning to the city and Hansen’s smart investments is helping his hedge fund gain visibility in the state. Valiant’s biggest high-priced bet for an internet company was the $500 million Facebook Inc (NASDAQ:FB) bet and the hedge fund had started backing it at $12 per share in late 2010. 2011 saw Valiant participating in an investment in Dropbox Inc, worth $250 million. It also has an $85 million stake in Evernote Corp. All this at a time when web companies like Zynga Inc (NASDAQ:ZNGA), Facebook Inc (NASDAQ:FB) and Groupon Inc (NASDAQ:GRPN) are facing a tough time
Shares of Facebook Inc (NASDAQ:FB) went down by 1.90% to close at 426.87
Shares of Microsoft Corporation (NASDAQ:MSFT) went up by 1.61% to close at 427.81
Shares of Zynga Inc (NASDAQ:ZNGA) went up by 4.76% to close at $3.52
Shares of Groupon Inc (NASDAQ:GRPN) went up by 7.79% to close at $5.98
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