In trading Thursday, GoPro shares rose 15.8% to $8.51 but the stock hit an all-time low earlier this week and is still worth about half of where it was at its 52-week high. "Incremental job cuts preserve significantly more cash vs. our previous forecast, which is the biggest positive; however, in general, investors may not ascribe full credit to a move like this given the obvious headwinds it tends to signal regarding new product development and overall innovation for the future".
Chief Executive Nick Woodman said as much in a statement announcing the layoffs.
The latest move by GoPro will also include shutting down the entertainment division as it continues to streamline its products which will include new hardware and software as well as worldwide growth per an official press release.
That said, after news of more job cuts and the pre-announcement of first quarter earnings, GoPro stock jumped 11 percent and continues to be on the rise this morning. The average for US equities is 2.5 percent, according to data compiled by Bloomberg. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock.
GoPro primarily sells action-oriented cameras, but it recently made a foray into drones.
"We're trying to do fewer things better", Prober said in an interview on Wednesday.
GoPro has gone from a high-flying gadget maker with digital media potential to a bloated company being undercut by cheaper Asian rivals.
GoPro operated at a $373 million loss in 2016 due to, among other factors, production delays on the new Hero 5 camera and the recall of the Karma drone.
Roles were cut throughout the organization, he said. The second layoff, according to the company, was done after a thorough review of its operations. The San Mateo, California-based company also merged teams internationally where there were duplicate roles across regions.
What's the adverse impact of cutting loose of 270 workers, who were obviously doing something for the company? However, Kovler says management addressed both concerns with its new $100 million operating expenses cut and double-digit 2017 revenue growth projections.
A number of hedge funds have recently bought and sold shares of GPRO.
Woodman said that revenue in the current quarter was on track to be at the high end of the Californian company's forecast of $190 million to $210 million.
The Vikings did not pick up the option on Peterson's contract and, on Thursday, confirmed they would be moving on from him. Peterson, however, is 31, and running backs - even the best ones - can rapidly go downhill at that age.
Both Lionel Messi and Luis Suarez wasted opportunities for the visitors and they were punished five minutes before half-time. Joselu had fired Deportivo into a first-half lead before Luis Suarez levelled in the first minute of the second period.
As such, Bharara prosecuted more than 12 state lawmakers from both the Republican and Democratic parties, according to the AP. Attorney Mark Green for the Eastern District of Oklahoma in Muskogee could not be reached for comment.
Anthony Martial will not be available for Manchester United's Europa League clash with FC Rostov, despite training on Wednesday. United heeded the warning and pressed hard for the opener, with Ibrahimovic heading over from Antonio Valencia's cross.
As Trump has done with other world leaders in recent weeks, he will host Merkel for a bilateral meeting and joint news conference. Talks will include Germany and France's efforts to address Russia's incursion in Ukraine and what role the U.S. can play.
On Sunday, the Division I men's basketball committee selected Northwestern as one of 68 teams taking part in March Madness . The Wildcats were rated No. 57 in the RPI with a No. 39 strength of schedule playing in the Big 12.
Ealy played 37% of the snaps as a rookie and had played almost 60% of the Panthers snaps over the past two season. In New England, Ealy will be on the final year of his rookie contract and set to become a free agent in 2018.
Polls opened at 6:30 am local time and already Wilders, Prime Minister Rutte, and several other politicians have cast their vote. Mr Wilders has led a fiery campaign, pledging to shut down the country's borders, ban the Koran and close mosques.
The Philadelphia Eagles introduced newly acquired wide receiver Alshon Jeffery during a press conference on Friday afternoon. According to ESPN's Josina Anderson, the former SC wide receiver is signing a one-year deal with the Philadelphia Eagles.
Called "the mullet of the jeans world" by reviewer PartyMomJeans, Topshop's latest design is certainly attracting attention. Nordstrom's newest pair of jeans gives a whole new meaning to "knee-jerk" after being mocked across the internet.
Since Orisa has been described as an "anchor tank", she's already gaining a reputation as some kind of overprotective mama figure. Halt: Orisa launches a graviton charge which she can detonate, slowing nearby enemies and pulling them towards the explosion.
It's best to install a dual-purpose alarm in every bedroom, outside of every bedroom and on each floor of your home. Whichever type of smoke alarms you choose, make sure they carry the label of a recognized testing laboratory.
The state Department of Labor reports the state unemployment rate in January was 3.3%, the same as the rate in December. Employment in other service, including repair-maintenance services and membership organizations, rose by 1,900.
If you have ranked one character up to level 20, you can use the Source Crystals to level other characters up to the same level. While Source Crystals aren't created to impact progression in the game, they do allow for a bit of a shortcut.
It came as a surprise to the global shipping industry as worldwide patrols had suppressed pirate hijackings for several years. The Aris 13 on Monday reported being approached by two skiffs, John Steed with the organization Oceans Beyond Piracy said.
Delta expects to resume operations with a reduced Tuesday night schedule and flights should return closer to normal on Wednesday. Spirit : Customers going to affected cities can rebook through March 16 or March 18, depending on the airport.
Earlier on Tuesday, the Packers waved goodbye to running back Eddie Lacy, who signed a one-year deal with the Seattle Seahawks. The final two seasons with the Packers were the best for House, playing in 19 games with 63 tackles and two interceptions.
On the New York Mercantile Exchange Monday, April West Texas intermediate crude oil fell another 9 cents to $48.40 per barrel. Gas prices dropped a couple of cents in the past week, but are expected to drop more in the coming weeks.
She was born weighing a staggering 11 lbs and was shortly diagnosed afterwards with the parasitic disease called Elephantiasis. She is most likely to return to Alexandria, her home, in two to three weeks and will continue the diet for some time.
ET Canada can confirm that 29-year-old Mohammed Jaffar has been arrested on charges of burglary and stalking. Judge David Frey signed off on an order of protection against Jaffar, barring any contact with the pop star.
After being married to devoted Mets fan Marc Anthony, and after a post-divorce relationship, she found Drake , son of The 6. Have we ever witnessed more of a career roller coaster than the one Yankees special advisor Alex Rodriguez is on?