In this article you are going to find out whether hedge funds think Akamai Technologies, Inc. (NASDAQ:AKAM) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks […]

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Social game developer Zynga (ZNGA) has announced that it has entered into a definitive agreement to acquire Peak, one of the most globally successful mobile gaming companies, for $1.8 billion. Shares are rising 7% in Monday’s pre-market trading.Istanbul-based Peak brings two Forever Franchises to Zynga, Toon Blast and Toy Blast, that have consistently ranked in the top 10 and top 20 U.S. iPhone grossing games for over two years, respectively. Indeed, Peak is expected to grow Zynga’s average mobile DAUs by more than 60% while strengthening the company’s international audience.“Peak is one of the world’s best puzzle game makers and we could not be more excited… With the addition of Toon Blast and Toy Blast, we are expanding our live services portfolio to eight forever franchises, meaningfully increasing our global audience base and adding to our exciting new game pipeline” cheered Zynga CEO Frank Gibeau.Zynga will acquire 100% of Peak for $1.8 billion, with $900 million in cash and $900 million of Zynga common stock (issued at the volume-weighted average closing price per share over the thirty-day trading period ended May 29, 2020). The deal is expected to close in the third quarter of 2020.At the same time, based on strength across its live services portfolio, Zynga updated its Q2 and Full Year 2020 financial guidance (without including any contributions from Peak).The company now anticipates Q2 revenue of $430M vs. $400M previously, with bookings of $500M vs. $460M previously and $465M consensus. Adjusted EBITDA is now expected at $35M up from the prior guidance of $32M.Shares in Zynga have exploded by 49% year-to-date. As a result, the average analyst price target of $8 now indicates downside potential of 9%. Analysts have a cautiously optimistic Moderate Buy consensus on Zynga, with 9 recent buy ratings offset by two hold ratings and two sell ratings. (See ZNGA stock analysis on TipRanks).Related News: Google Mulling Purchase of Stake in Indian Vodafone Idea FB Holds ‘Productive’ Call With Trump, As Social Media War Rages On Microsoft Seeks $2B Stake In India’s Jio Platforms- Report More recent articles from Smarter Analyst: * Immutep Surges In Pre-Market On Positive Efti Cancer Data * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon * Google Delays Rollout Of Android Beta Version Amid U.S. Protests * Facebook Holds ‘Productive’ Call With Trump, As Social Media War Rages On

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(Bloomberg) — The oil market took an initially neutral view on OPEC+ deliberations that could result in the producer group announcing a short extension to unprecedented output curbs.Futures in New York were little changed near $35 a barrel, though they held onto sharp gains from shortly before Friday’s close. The Organization of Petroleum Exporting Countries and its allies are considering bringing their next meeting forward to Thursday, where they will discuss prolonging production curbs by one to three months, according to a delegate. The existing agreement calls for the output cuts to ease from July.See also: Could OPEC+ Become a Victim of Its Own Success?: Julian LeeUp to this point, the production curbs have been effective. Crude rallied almost 90% last month, a record gain, as reduced supply helped to offset the demand losses from the coronavirus outbreak. A key oil spread that helps dictate the flow of crude from regions including the North Sea and West Africa turned positive for the first time since March on Monday, the latest sign that crude’s recovery isn’t just financial-driven.“The prospect of OPEC+ advancing its meeting and agreeing an extension rather than tapering of the deeper cuts should support crude’s rally this week,” said Vandana Hari, founder of energy consultancy Vanda Insights.An earlier OPEC+ meeting would give the producer group more flexibility to change its current production limits as members usually decide their plans for shipping oil for July in the first week of June. The group’s preference is to take short-term measures on cuts as the situation is changing quickly, the delegate said. The coalition — which includes OPEC’s 13 members plus another 10 exporters — has achieved 92% compliance, according to an estimate by data analytics firm Kpler.Though crude has rallied their’s still evidence of a supply dip in the U.S. The number of rigs in the world’s largest producer nation dropped for an 11th consecutive week to the lowest since 2009, according to data from Baker Hughes. Still, there’s a risk that oil’s continued advance could tempt some producers to turn their taps back on again.Meanwhile, the U.S. Oil Fund ETF will begin its monthly roll of futures contracts on Monday. The fund plans to sell its July holdings and buy more November and January futures over the next 10 trading sessions.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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