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GPRO

GoPro

$9.83

0.02 (0.20%)

07:04
11/30/16
11/30
07:04
11/30/16
07:04

GoPro announces restructuring, workforce reduction of 15%

GoPro announced a company-wide restructuring that will reduce full-year 2017 non-GAAP operating expenses to approximately $650M (GAAP: $735M) and achieve its goal of returning to non-GAAP profitability in 2017. The restructuring includes the closure of its entertainment division, facilities reductions, and the elimination of more than 200 full-time positions plus the cancelation of open positions for a reduction in force of approximately 15%. Additionally, Tony Bates will depart his position as president of the company at the end of the year. "My time at GoPro has been an incredible experience," said Tony Bates. "In the past three years, GoPro has seen enormous progress in camera technology, software and international growth. Today GoPro has a solid leadership team deeply focused on its core business and profitability." GoPro estimates that it will incur total aggregate charges of approximately $24M-$33M for the restructuring, including approximately $13M-$18M of cash expenditures as a result of the workforce restructuring, substantially all of which are severance costs, and approximately $11M-$15M of non-cash expenditures, consisting primarily of stock-based compensation expense and accelerated depreciation associated with office consolidations. The company expects to recognize most of the restructuring charges in Q4 2016. "Consumer demand for GoPro is solid and we've sharply narrowed our focus to concentrate on our core business," said Nicholas Woodman. "We are headed into 2017 with a powerful global brand, our best ever products, and a clear roadmap for restored growth and profitability in 2017."

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GPRO GoPro
$9.83

0.02 (0.20%)

11/09/16
RAJA
11/09/16
DOWNGRADE
RAJA
Market Perform
GoPro downgraded to Market Perform from Outperform at Raymond James
11/09/16
11/09/16
DOWNGRADE

Market Perform
GoPro downgraded to Market Perform after drone recall at Raymond James
As previously reported, Raymond James downgraded GoPro to Market Perform from Outperform following the company's announcement of an immediate recall of the roughly 2,500 Karma drones purchased since launch on October 23.. Analyst Tavis McCourt is concerned about GoPro's brand image following a 12-18 month period of product management missteps and its ability to broaden its product portfolio into different areas. McCourt didn't make any changes to 2016 estimates but is less comfortable in potential upside and sustainability of growth in 2017 and beyond.
11/09/16
DOTC
11/09/16
DOWNGRADE
DOTC
Sell
GoPro downgraded to Sell from Neutral at Dougherty
Dougherty downgraded GoPro to Sell from Neutral and lowered its price target to $6 following the drone recall. The analyst is concerned about management's multiple operational stumbles, weak Hero 5 demand, and elevated valuation.
11/09/16
11/09/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. JPMorgan (JPM) downgraded to Neutral from Outperform at Baird with analyst David George noting the stock's outperformance and the higher re-rating of its valuation multiple. 2. GoPro (GPRO) downgraded to Neutral from Outperform at Wedbush, to Market Perform from Outperform at Raymond James, and to Sell from Neutral at Dougherty. 3. Universal Health (UHS) downgraded to Neutral from Buy at BofA/Merrill, to Neutral from Buy at Mizuho, and to Market Perform from Outperform at Avondale. 4. Globus Medical (GMED) downgraded to Market Perform from Outperform at JMP Securities, to Perform from Outperform at Oppenheimer, and to Market Perform from Outperform at William Blair. 5. Delphi (DLPH) and Magna (MGA) were downgraded to Underperform from Buy at BofA/Merrill while the firm downgraded Lear (LEA), American Axle (AXL), Adient (ADNT), and BorgWarner (BWA) to Underperform from Neutral. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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Wolfe Research utilities analyst holds an analyst/industry conference call »

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OA

Orbital ATK

$97.28

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CTRV

ContraVir Pharmaceuticals

$1.41

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ASPS

Altisource

$24.05

-1.39 (-5.46%)

, NRZ

New Residential

$16.34

-0.05 (-0.31%)

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Piper Jaffray specialty finance analyst holds analyst/industry conference call »

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Altisource

$24.05

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NRZ

New Residential

$16.34

-0.05 (-0.31%)

OCN

Ocwen

$2.42

-0.07 (-2.81%)

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MRK

Merck

$61.89

-0.66 (-1.06%)

15:27
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Merck reports new Phase 2 MK-3682B data »

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ABUS

Arbutus Biopharma

15:10
04/23/17
04/23
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15:10
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Arbutus reports ARB-1467 study data, plans additional trial in 2H »

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ACHN

Achillion

$3.64

-0.02 (-0.55%)

, JNJ

Johnson & Johnson

$121.76

-0.11 (-0.09%)

15:05
04/23/17
04/23
15:05
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15:05
Hot Stocks
Achillion reports updated data from Phase 2 JNJ-4178 study »

Achillion Pharmaceuticals…

ACHN

Achillion

$3.64

-0.02 (-0.55%)

JNJ

Johnson & Johnson

$121.76

-0.11 (-0.09%)

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BMY

Bristol-Myers

$53.48

0.04 (0.07%)

14:59
04/23/17
04/23
14:59
04/23/17
14:59
Hot Stocks
Bristol-Myers says '036 NASH study meets primary endpoint »

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14:52
04/23/17
04/23
14:52
04/23/17
14:52
General news
Breaking General news story  »

Fillon concedes as Le…

ALBO

Albireo Pharma

$20.66

-0.26 (-1.24%)

14:45
04/23/17
04/23
14:45
04/23/17
14:45
Hot Stocks
Albireo Pharma reports 'promising' A4250 data, sees Phase 3 trial start in 2H »

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PG

Procter & Gamble

$88.62

-0.71 (-0.79%)

14:34
04/23/17
04/23
14:34
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14:34
Hot Stocks
ShaveLogic says wins summary judgement over Gillette »

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ORIG

Ocean Rig UDW

$0.23

-0.0121 (-5.04%)

14:30
04/23/17
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14:30
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Ocean Rig UDW extends Drill Rigs early consent deadline »

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  • 24

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SRG

Seritage Growth Properties

$42.86

-0.47 (-1.08%)

, SHLD

Sears

$13.39

-0.25 (-1.83%)

14:18
04/23/17
04/23
14:18
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14:18
Periodicals
Seritage releasing efforts could deliver 'significant' growth, Barron's says »

Despite its significant…

SRG

Seritage Growth Properties

$42.86

-0.47 (-1.08%)

SHLD

Sears

$13.39

-0.25 (-1.83%)

03/08/13
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ORLY

O'Reilly Automotive

$265.36

2.36 (0.90%)

, AAP

Advance Auto Parts

$146.84

0.28 (0.19%)

14:10
04/23/17
04/23
14:10
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14:10
Periodicals
O'Reilly is top pick in auto parts retail, Barron's says »

O'Reilly Automotive…

ORLY

O'Reilly Automotive

$265.36

2.36 (0.90%)

AAP

Advance Auto Parts

$146.84

0.28 (0.19%)

AZO

AutoZone

$707.79

1.49 (0.21%)

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HOG

Harley-Davidson

$55.81

-0.66 (-1.17%)

13:55
04/23/17
04/23
13:55
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13:55
Periodicals
Harley-Davidson remains unattractive, Barron's says »

Investors should continue…

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ARNC

Arconic

$26.00

-0.11 (-0.42%)

, AA

Alcoa

$31.70

-0.34 (-1.06%)

13:51
04/23/17
04/23
13:51
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13:51
Periodicals
Alcoa looks like safer bet over Arconic, Barron's says »

With "plenty of…

ARNC

Arconic

$26.00

-0.11 (-0.42%)

AA

Alcoa

$31.70

-0.34 (-1.06%)

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INFY

Infosys

$14.48

0.01 (0.07%)

, WIT

Wipro

$9.70

-0.15 (-1.52%)

13:36
04/23/17
04/23
13:36
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13:36
Periodicals
Indian outsourcers to feel pain from 'Hire American' push, Barron's says »

The Trump…

INFY

Infosys

$14.48

0.01 (0.07%)

WIT

Wipro

$9.70

-0.15 (-1.52%)

03/08/13
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MGM

MGM Resorts

$28.41

-0.05 (-0.18%)

13:22
04/23/17
04/23
13:22
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13:22
Periodicals
MGM Resorts earnings report unlikely to miss, Barron's says »

Investors shouldn't…

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  • 27

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JNJ

Johnson & Johnson

$121.76

-0.11 (-0.09%)

13:04
04/23/17
04/23
13:04
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13:04
Periodicals
Johnson & Johnson pullback could represent buy opportunity, Barron's says »

Johnson &…

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  • 06

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SRPT

Sarepta

$32.61

0.07 (0.22%)

12:52
04/23/17
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12:52
Periodicals
Sarepta may double or more, Barron's says »

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GS

Goldman Sachs

$216.86

-1.2 (-0.55%)

, BAC

Bank of America

$22.71

-0.36 (-1.56%)

12:43
04/23/17
04/23
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12:43
Periodicals
Major U.S. banks look attractive, Barron's says »

Bank stocks "look…

GS

Goldman Sachs

$216.86

-1.2 (-0.55%)

BAC

Bank of America

$22.71

-0.36 (-1.56%)

C

Citi

$57.72

-0.69 (-1.18%)

WFC

Wells Fargo

$53.00

-0.5 (-0.93%)

JPM

JPMorgan

$84.52

-1.03 (-1.20%)

MS

Morgan Stanley

$41.80

-0.7 (-1.65%)

03/08/13
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ABBV

AbbVie

$63.82

0.04 (0.06%)

, ALXN

Alexion

$116.82

-1.9 (-1.60%)

04:55
04/23/17
04/23
04:55
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04:55
Conference/Events
European Association for the Study of Liver »

International Liver…

ABBV

AbbVie

$63.82

0.04 (0.06%)

ALXN

Alexion

$116.82

-1.9 (-1.60%)

BAX

Baxter

$52.88

-0.01 (-0.02%)

CPHD

Cepheid

GALT

Galectin Therapeutics

$3.09

-0.14 (-4.33%)

GILD

Gilead

$65.93

-0.57 (-0.86%)

ICPT

Intercept

$107.89

0.7 (0.65%)

JWA

John Wiley & Sons; also tag JWB

NVS

Novartis

$73.40

-0.22 (-0.30%)

OSUR

OraSure

$12.67

0.03 (0.24%)

SIEGY

Siemens

$67.34

-0.197 (-0.29%)

VTL

Vital Therapies

$3.50

-0.1 (-2.78%)

ARWR

Arrowhead

$1.52

0.01 (0.66%)

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AAPL

Apple

$142.27

-0.17 (-0.12%)

, FB

Facebook

$143.68

-0.12 (-0.08%)

13:57
04/22/17
04/22
13:57
04/22/17
13:57
Hot Stocks
Week in review: How Trump's policies moved stocks »

Catch up on the top…

AAPL

Apple

$142.27

-0.17 (-0.12%)

FB

Facebook

$143.68

-0.12 (-0.08%)

GOOG

Alphabet

$843.19

1.54 (0.18%)

GOOGL

Alphabet Class A

$858.95

-1.13 (-0.13%)

AMZN

Amazon.com

$898.53

-3.53 (-0.39%)

MSFT

Microsoft

$66.40

0.9 (1.37%)

STLD

Steel Dynamics

$35.37

0.46 (1.32%)

AKS

AK Steel

$6.72

-0.1 (-1.47%)

X

U.S. Steel

$30.42

-0.09 (-0.29%)

NUE

Nucor

$60.00

-0.35 (-0.58%)

CYH

Community Health

$8.24

-0.11 (-1.32%)

HCA

HCA Holdings

$83.55

-0.57 (-0.68%)

LPNT

LifePoint

$60.85

-0.7 (-1.14%)

THC

Tenet

$15.35

0.36 (2.40%)

UHS

Universal Health

$118.84

-0.29 (-0.24%)

HUM

Humana

$213.67

-0.57 (-0.27%)

BAC

Bank of America

$22.71

-0.36 (-1.56%)

C

Citi

$57.72

-0.69 (-1.18%)

GS

Goldman Sachs

$216.86

-1.2 (-0.55%)

JPM

JPMorgan

$84.52

-1.03 (-1.20%)

MS

Morgan Stanley

$41.80

-0.7 (-1.65%)

USB

U.S. Bancorp

$50.51

-0.17 (-0.34%)

WFC

Wells Fargo

$53.00

-0.5 (-0.93%)

03/08/13
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JNS

Janus Capital

$13.15

-0.07 (-0.53%)

13:27
04/22/17
04/22
13:27
04/22/17
13:27
Conference/Events
Janus Capital to host special shareholder meeting »

Special Shareholder…

03/08/13
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ABT

Abbott

$43.53

-0.45 (-1.02%)

, ABBV

AbbVie

$63.82

0.04 (0.06%)

04:55
04/22/17
04/22
04:55
04/22/17
04:55
Conference/Events
National Kidney Foundation to hold clinical meeting »

NKF 2017 Spring Clinical…

ABT

Abbott

$43.53

-0.45 (-1.02%)

ABBV

AbbVie

$63.82

0.04 (0.06%)

ALXN

Alexion

$116.82

-1.9 (-1.60%)

AMGN

Amgen

$160.41

-1.63 (-1.01%)

BAX

Baxter

$52.88

-0.01 (-0.02%)

GSK

GlaxoSmithKline

$40.78

0.07 (0.17%)

HZNP

Horizon Pharma

$14.99

-0.25 (-1.64%)

MNK

Mallinckrodt

$43.52

-1.41 (-3.14%)

MRK

Merck

$61.89

-0.66 (-1.06%)

AUPH

Aurinia Pharmaceuticals

$7.11

0.11 (1.57%)

NXTM

NxStage Medical

$27.90

-0.19 (-0.68%)

PLX

Protalix

$1.02

0.02 (2.00%)

RTRX

Retrophin

$18.47

-0.37 (-1.96%)

SNY

Sanofi

$44.09

-0.7 (-1.56%)

SHPG

Shire

$171.94

0.08 (0.05%)

TKPYY

Takeda Pharmaceutical Co. Ltd.

$24.29

0.215 (0.89%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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