Zynga Trades Higher after Candy Crush Maker King Digital Prices its IPO and Cisco Systems to Build World’s Largest Cloud Network

Zynga, Inc. (NASDAQ: ZNGA) shares drifted higher after the anticipated IPO from King Digital Entertainment, maker of the Candy Crush mobile app, was priced late Tuesday. This would be the latest young company to file for an IPO. The initial public offering raised $500 million for the 10 year old company. King Digital is offering 15.5 million shares at between $21 and $24 a share. At the upper end of this range, the company’s valuation of $7.6 billion would be nearly double Zynga's $4.11 billion market capitalization. A spokeswoman for King declined to comment on the company's proposed