GoPro Investors Continue to Be Happy as Shares Rise: Tech Winners & Losers

 

SAN FRANCISCO (TheStreet) – GoPro (GPRO) investors continue to say "cheese," as shares have rose nearly 15% over the past two days, despite a weakening market.

The company that makes the rugged video camera that has captured high-adventure thrills from skydiving to mountain biking while strapped on its owner's helmet, arm or other body part, closed up 7.7% to $78.46. That builds on a 6.75% gain the company posted yesterday at the market's close, ending the session at $72.88 a share.

Google's multi-million dollar investment in YouTube is apparently driving GoPro's rising share price.  The take-away is Googe's investment may lead to more wanna-be producers buying GoPro cameras to post their work on YouTube.


BlackBerry (BBRY) shares fell 0.47% to $10.51 on Wednesday, despite announcing the company's latest smartphone, the BlackBerry Passport.

The struggling handset maker is aiming to capture more corporate users with its new device, a market that has historically served as its bread and butter. The device features a more business-like 4.5-inch display screen, compared to its competitors. Apple's (AAPL) latest iPhone 6 Plus has a 5.5-inch screen, while or the Samsung Galaxy S5 has a screen that's 5.1 inches.

For BlackBerry's core business user, the Passport phone will do the trick enough to display spreadsheets and other documents on the go. Watching a movie, however, may be another matter.


Data storage giant EMC (EMC) also lost ground, dipping 0.44% to close at $29.72 a share.

Investors may be growing a tad bit skeptical that EMC will ultimately do a deal with Hewlett-Packard (HPQ) , Dell or another party. On Sunday, a report surfaced in The Wall Street Journal noting HP and Dell had previously been in deal talks with EMC, but those talks have since subsided. 

Nonetheless, EMC's stock gained during the week from its Friday close of $29.53. But today, it gave back some of that love.


Accenture (ACN)  climbed 0.75% to end the session at $80.20 a share Wednesday, despite issuing a lower first-quarter revenue forecast the previous day.

This morning, shares in the technology consulting and services company moved lower. In part, it was likely due to the company guiding Wall Street that its first-quarter revenue would be in the $7.55 billion to $7.8 billion range, rather than $7.8 billion.

The global IT company, however, did manage to post record revenue for its fiscal year of $30 billion, up 5% from the previous year.


Verizon (VZ) shares also edged up 0.32% to close at $50.07.

The cellular carrier received a lift, following published reports that the company may be selling approximately 12,000 towers in its network for $6 billion, according to Bloomberg

Should Verizon ultimately strike a deal to sell a portion of its towers in its network, the proceeds could go to something useful like securing more spectrum. Wireless carriers need spectrum to transmit their wireless signals and they need a lot, especially as users' data demands are rising.

At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.


TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, compelling growth in net income, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

You can view the full analysis from the report here: VZ Ratings Report

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