Video-game makers and retailers are facing growing pressure from Washington and advocacy groups concerned about possible links between violent games and tragedies like the school massacre in Newtown, Connecticut.
It’s a good thing for Kleiner Perkins Caufield & Byers that Bing Gordon really likes online video games. That made the venture firm into the biggest winner in Zynga Inc.’s initial public offering, poised to turn a $35 million investment into about $650 million.
H&R Block Inc. dropped the most in almost eight months after the tax preparer announced preliminary profit and revenue that trailed analysts’ estimates and said it would cut about 350 jobs and close offices.
The U.S. Treasury Department, which put $17.2 billion into a bailout of Ally Financial Inc., would prefer a breakup and sale of the lender because an initial public offering may not succeed, according to people familiar with the matter.