Check out the companies making headlines in midday trading on Thursday.
– Zynga's stock jumped more than 12% after the video game company topped expectations for its fourth quarter results. The video game company reported $433 million in bookings for the period, topping a consensus expectation of $418.1 million, according to FactSet. Stephens analyst Jeff Cohen said in a note to clients that the strong quarter was driven by the company's Empires & Puzzles segment and that the its guidance for 2020 calmed some worries among investors.
– Shares of Philip Morris rose 4.3% on Thursday morning after the tobacco giant beat estimates on the top and bottom lines for the fourth quarter. The company reported $1.22 in adjusted earnings per share and $7.713 billion in revenue. Analysts expected $1.21 in earnings per share and $7.661 billion in revenue, according to Refinitiv. The company said shipment volume for its heated tobacco devices increased by 40.7% compared with the same quarter the previous year.
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