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July 7, 2014
11:14 EDTGPROGoPro heads for session lows, levels to watch
The shares made an upside attempt this morning which topped out at $43.25, a level which is resistance for the day so far. At the current price of $42.16, the shares are drifting to the low of the day at $41.76. On a break below $41.76, next support is at $41.15.
News For GPRO From The Last 14 Days
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August 1, 2014
06:36 EDTGPROGoPro weakness a buying opportunity, says Piper Jaffray
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July 31, 2014
18:58 EDTGPROOn The Fly: After Hours Movers
UP AFTER EARNINGS: Imperva (IMPV), up 13.4% after reporting quarterly results... LinkedIn (LNKD), up 7.7% after reporting better than expected second quarter results and guidance for third quarter and fiscal 2014... Expedia (EXPE), up 2.1% after reporting second quarter results above analyst estimates and raising its quarterly dividend... Priceline (PCLN), up marginally following Expedia's second quarter results...Tableau Software (DATA), up 1.5%... Mohawk (MHK), up 3%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 3.4% after the FDA said that it will explore quick approval of DMD drugs. DOWN AFTER EARNINGS: (WWWW), down 16.8% after reporting second quarter results and acquiring UK online directory company Scoot... ARRIS Group (ARRS), down 8.6%... Control4 (CTRL), down 11.1%... SunPower (SPWR), down 5%... GoPro (GPRO), down 11.2%... Outerwall (OUTR), down 2%... Tesla (TSLA), down marginally after reporting second quarter results and announcing that it broke ground on a possible Gigafactory location in Reno, Nevada.
16:18 EDTGPROGoPro reports Q2 EPS 8c, consensus 6c
Reports Q2 revenue $244.6M, consensus $237.73M. The company said, "We are seeing a tremendous volume of quality content generated by our users and a 200% year over year increase in video views on YouTube, which is fueling our virtuous cycle whereby viewership of GoPro content drives sales. Our second quarter performance demonstrates our users' continued passion for GoPro's products, content and brand,"
14:33 EDTGPROGoPro technical comments ahead of earnings
We have very little history to base a technical assessment of how the shares may trade as the company reports for the first time as a public entity. What we can see is that the $40 level has become an important line on the chart around which price has oscillated. On strong news the shares would likely test the life high at $49.90. A large positive surprise in results or outlook would potentially see a breakout above $50. Without overhead resistance, the next potential upside objective would be at the $55 area. A disappointment would likely push the stock down to that $40 area for a test of support. If the news was more extreme, a break below $40 would see next support at $36.84.
14:25 EDTGPROGoPro August weekly 48 straddle priced for 11.6% move into Q2
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08:35 EDTGPROGoPro August volatility increases into Q2
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July 28, 2014
07:36 EDTGPROGoPro August volatility elevated into Q2
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July 27, 2014
10:32 EDTGPROGoPro stock may not be as great as camera, Barron's says
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July 25, 2014
09:37 EDTGPROGoPro mentioned cautiously at Cleveland Research
July 23, 2014
15:28 EDTGPROGoPro August volatility increases into Q2
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July 21, 2014
10:45 EDTGPROAnalysts roll out coverage on GoPro with differing views
Shares of GoPro (GPRO) are climbing after a number of analysts initiated coverage of the stock with different outlooks. GoPro develops mountable and wearable cameras. BULLISH TAKE: JPMorgan analyst Paul Coster initiated coverage of GoPro with an Overweight rating. GoPro is gaining share in the digital camcorder market, and it has begun to penetrate "active lifestyle" markets, which are a much larger opportunity for the company, Coster believes. The company could ship 10M of its products for use by active lifestyle participants annually, the analyst estimated. In a best case scenario, the company could also sell low-cost devices for the mass market, according to Coster. However, GoPro will face competition from major companies, including Google (GOOG) and possibly Apple (AAPL) in this market, warned Coster, who set a $51 price target on GoPro. Also initiating coverage of the name with an Overweight rating was Piper Jaffray analyst Sean Naughton. GoPro is in the early stages of growth, as the company's user base is poised to expand beyond extreme sports enthusiasts, the analyst forecast. The company has a competitive advantage over other brands, which should enable it to maintain strong profitability, added Naughton, who set a $48 price target on the shares. BEARISH TAKE: Stifel analyst Jim Duffy started coverage of GoPro with a Hold rating. The company's three year growth outlook is compelling, but the stock is fully valued, the analyst believes. The company faces a number of risks, including competition in the image device market and the possibility that its relationship with key channel partners, including Best Buy (BBY), could be disrupted, the analyst wrote. Sales to Best Buy accounted for 17% of GoPro's revenue in fiscal 2013, Duffy reported. After GoPro surged following its initial public offering, the stock is likely to advance by only limited amounts, wrote Barcalys analyst Joseph Wolf, who initiated coverage of the shares with an Equal Weight rating. The stock could fall to $30 if the company is unable to increase its hardware sales or make progress in its efforts to develop a media business, the analyst warned. He set a $45 price target on the shares. PRICE ACTION: A total of seven analysts rolled out coverage today on GoPro, according to The Fly’s research, with only two recommending the stock with buy-equivalent ratings. Shares of the camera marker are up 3%, or $1.10, to $42.53 in morning trading.
10:36 EDTGPROGoPro initiated with a Market Perform at Raymond James (pre-open)
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10:02 EDTGPROOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adeptus Health (ADPT) initiated with a Buy at Dougherty... Amphastar (AMPH) initiated with a Buy at Jefferies... Eclipse Resources (ECR) initiated with a Neutral at SunTrust... Fidelity National (FNF) initiated with a Buy at SunTrust... First American (FAF) initiated with a Buy at SunTrust... GoPro (GPRO) initiated with a Hold at Stifel... Imprivata (IMPR) initiated with an Outperform at Wells Fargo... Lifetime Brands (LCUT) initiated with a Buy at Sidoti... Materialise (MTLS) initiated with a Buy at BB&T... Regeneron (REGN) initiated with a Buy at Argus... STAG Industrial (STAG) initiated with a Buy at Sandler O'Neill... Signature Group (SGGH) initiated with a Buy at B. Riley... TCP International (TCPI) initiated with a Buy at Canaccord... Tessera (TSRA) initiated with a Buy at Craig-Hallum... Xunlei (XNET) initiated with a Perform at Oppenheimer.
09:10 EDTGPROOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
06:14 EDTGPROGoPro initiated with a Neutral at Citigroup
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05:51 EDTGPROGoPro initiated with an Overweight at Piper Jaffray
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05:34 EDTGPROGoPro initiated with a Hold at Stifel
Stifel started shares of GoPro with a Hold rating, saying the current valuation adequately balances earnings power and media potential against execution risk.
05:31 EDTGPROGoPro initiated with an Overweight at JPMorgan
JPMorgan expects further upside in shares of GoPro to be driven by first-time adoption of the company's cameras in various categories over the next three years. The firm started shares with an Overweight rating and $51 price target.
05:26 EDTGPROGoPro initiated with an Equal Weight at Barclays
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05:24 EDTGPROGoPro initiated with a Neutral at RW Baird
RW Baird views GoPro shares as fairly valued at current levels. The firm started the stock with a Neutral rating and $43 price target.
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