GoPro Shares Plummet on Dismal Earnings Report and Projections

GoPro (GPRO) needs the new Hero 5 camera and Karma drone to be a hit with customers. The company announced dismal 3rd quarter results, swinging to a loss from a profit a year ago. GoPro shares plunged as much as 20% overnight. CEO Nick Woodman also said sales will likely be lower for the rest of the year than expected due to production issues for its 2 new products. Starbucks (SBUX) shares are rising after an earnings beat. However, same store sales were lackluster. CEO Howard Schultz did say that China is a bright spot as sales in that country were better than expected. CBS (CBS) beat expectations. Chairman and CEO Les Moonves said advertising sales fell 2% and blamed that on the Olympics on competitor NBC as well as primetime being preempted by the political conventions and debates. The October Jobs report is expected to show a gain of 175,000 jobs according to RBC Capital Markets. The unemployment rate is expected to come to 4.9%.