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Stock Market & Financial Investment News

News Breaks
July 21, 2014
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.
News For GPRO From The Last 14 Days
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November 26, 2014
16:14 EDTGPROOn The Fly: Closing Wrap
Stocks on Wall Street were modestly higher ahead of the Thanksgiving holiday. The market opened in relatively quiet fashion and remained that way throughout the day. There was little reaction to the host of economic reports that were released during the day as many investors prepared for the Thanksgiving holiday and tried to stay clear of the first winter storm of the season. The volume remained light as it has been all week as investors look toward Black Friday and its effect on the retail industry. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 313K last week from the prior week's 291K first-time claims. Expectations were for claims to fall to 288K. Consumer spending rose a seasonally adjusted 0.2% from the prior month in October, versus the forecast for a 0.3% rise. Personal income increased 0.2%, which also undershot the 0.4% increase that was expected. Durable goods orders rose 0.4% in October from a month earlier, beating expectations for overall orders to fall 0.5%. However, the rise largely reflected a surge in demand for defense aircraft and excluding transportation, orders fell 0.9%, which was the biggest drop since December 2013. The National Association of Realtors' pending home sales index fell 1.1% to 104.1 in October, versus expectations for it to have risen 0.5%. New home sales rose 0.7% to a 458K rate in October, which was bit below the 0.8% increase that was forecast. The University of Michigan consumer confidence final reading for November came in at 88.8, which was not quite as good as the preliminary reading of 89.4 but was up compared to October's 86.9 final figure. In Europe, European Central Bank VP Vitor Constancio said the central bank "will have to consider" buying other assets, including sovereign bonds in the secondary market, early next year if it decides that more aggressive stimulus measures are needed. COMPANY NEWS: Deere (DE) shares fell 72c, or 0.81%, to $87.07 after the company forecast a 20% decline in farm equipment sales for the recently started fiscal year. The company's just completed quarter was more profitable than expected, but its implied EPS forecast for the new fiscal year significantly trailed the consensus forecast. HP (HPQ) advanced $1.56, or 4.16%, to $39.19 after its fourth quarter earnings matched estimates and its revenue came in nearly in-line with the consensus forecast. Following the report, Citigroup said HP's Q4 results show the company's fundamentals are improving, while Wells Fargo believes the company is well-positioned in a number of areas and has "largely turned the corner." MAJOR MOVERS: Among the notable gainers was defense contractor Cubic (CUB), which rose 8.3% after the company’s fourth quarter results surpassed analysts’ consensus estimates and it raised its semi-annual dividend. GoPro (GPRO) was up 5.7% after announcing it was developing its own line of consumer drones. Among the noteworthy losers were two drilling contractors, Seadrill (SDRL) and North Atlantic Drilling (NADL), which fell 23% and 16% respectively after each of the companies announced that they have suspended their dividends. INDEXES: The Dow rose 12.81, or 0.07%, to 17,827.75, the Nasdaq added 29.07, or 0.61%, to 4,787.32, and the S&P 500 gained 5.80, or 0.28%, to 2,072.83.
12:21 EDTGPROCongressman backing police body camera law, The Hill says
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12:02 EDTGPROGoPro up about 4%, near highs of session
11:59 EDTGPROGoPro designing line of consumer drones, WSJ reports
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07:05 EDTGPROGoPro poised for strong holiday season, says Piper Jaffray
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November 25, 2014
11:28 EDTGPROStocks with call strike movement; GPRO USO
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05:50 EDTGPROStocks with implied volatility movement; GPRO UTX
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November 24, 2014
13:53 EDTGPROCCS Insight predicts Google will buy GoPro in 2015, Wareable reports
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11:23 EDTGPROStocks with call strike movement; GPRO TWTR
GoPro (GPRO) April 85 call option implied volatility decreased 10% to 54, Twitter (TWTR) March 44 call option implied volatility increased 2% to 51 according to IVolatility.
November 20, 2014
16:24 EDTGPROOn The Fly: Closing Wrap
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11:03 EDTGPROGoPro falls, levels to watch
Shares are down 5.8% to $74.40 following the pricing of its secondary offering at $75. At current price support is at the low of the session at $72.55. Resistance is at the session high at $75.10.
10:03 EDTGPROGoPro weekly volatility elevated after files to sell $800M shares
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09:21 EDTGPROOn The Fly: Pre-market Movers
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November 19, 2014
20:06 EDTGPROGoPro 10.36M share Secondary priced at $75.00
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November 18, 2014
11:28 EDTGPROGoPro rises after company, shareholders file to sell 10.36M shares
Shares of GoPro (GRPO) are rising in early trade after the company filed to sell 10.36M shares of its stock on behalf of the company and its stockholders. WHAT'S NEW: GoPro announced in a prospectus that it is selling about 1.29M shares of class A common stock and that selling stockholders are selling 9.073M shares of class A common stock. The holders of the company's outstanding class B common stock will hold approximately 96.1% of the voting power following this offering, with its executive officers and directors and their affiliates holding approximately 65% and CEO Nicholas Woodman holding approximately 42.5% after his sale of about 4.08M shares of class A common stock in this offering, the company explained. GoPro estimated that it will receive net proceeds of $97.1M from the sale of class A shares, assuming a public offering price of $79.15 per share. The company said it expects to use the net proceeds of this offering for general corporate purposes including working capital, adding that it may also use a portion of the net proceeds to acquire or invest in complementary businesses, technologies or assets. "However, we have no present commitments or agreements to enter into any acquisitions or make any investments," GoPro noted. WHAT'S NOTABLE: On November 10, GoPro shares slipped after its CEO acknowledged he planned to sell some of his stake as part of this stock offering. In a regulatory filing at that time, the company shared an email message sent by Woodman to employees, in which he assured that he plans to be a "significant shareholder in GoPro for a long time." Additionally, on its earnings conference call this morning, Dick's Sporting Goods (DKS) management said it continues to be "extremely enthusiastic" about the electronics category, particularly wearables, GoPro cameras, and the Fitbit activity tracker. ANALYST OPINION: In a note to investors this morning, Pacific Crest said channel checks for high end GoPros are looking better than expected. The firm said it sees upside to the upcoming quarter for Ambarella (AMBA), which provides components used by GoPro in its cameras. Pacific Crest increased its price target on Ambarella shares to $55 from $47 and maintains its Outperform rating on the stock. PRICE ACTION: In morning trading, shares of GoPro rose 4.2% to $84.92, while Ambarella (AMBA) gained 5.8% to $51.60.
November 17, 2014
16:58 EDTGPROGoPro files to sell 9.07M shares of common stock for holders
16:58 EDTGPROGoPro files to sell 1.29M shares of common stock
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November 13, 2014
09:47 EDTGPROTexas legislator wants police to wear body cameras, KDFW says
A Texas state senator has proposed a bill that would have every patrol officer in the state wearing body cameras, according to Dallas local Fox affiliate KDFW. Companies that make body cameras for police include Taser (TASR), Digital Ally (DGLY), and GoPro (GRO). Reference Link

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