Action camera maker GoPro (GPRO) received a flurry of downgrades and price target cuts after reporting lousy holiday season sales late Wednesday. Shares of the San Mateo, Calif.-based company fell as much as 23% to a record low of 11.26 on the stock market today. GoPro closed down 14.6% at 12.48. GoPro went public at 24 in June 2014 and hit a record high of 98.47 in October 2014. GoPro said it expects to report Q4 sales of $435 million, down 31%
The meat products industry group has emerged as the No. 1 group out of 197, as of Thursday’s IBD. The rise could be partly defensive, with money managers shifting to companies showing steady growth in the belief they will hold up better than high fliers as the market turns lower. But companies in the group have seen have seen solid earnings and sales growth in recent quarters. Five of the nine stocks in the group have Composite Ratings of 90 or
Electric car maker Tesla Motors (TSLA), Google self-driving car developer Alphabet (GOOGL) and four other automakers stood by at the Detroit auto show Thursday, supporters in a pivotal federal autonomous driving announcement. U.S. Department of Transportation Secretary Anthony Foxx introduced the Obama administration’s $4 billion, 10-year plan to get self-driving cars onto U.S. roads in “corridors” throughout the country. Along with Tesla Motors