Stocks Mixed on Jobs Report; GoPro Shares Crash on Weak Results

U.S. stocks wavered early Friday. The economy added 161,000 jobs during the month, missing forecasts of 178,000. The unemployment rate fell to 4.9%, compared to 5% in September. Revisions to the prior two months netted the economy an additional 44,000 jobs. Nick Colas, chief market strategist at Convergex thinks the number is strong enough for the Federal Reserve to raise interest rates in December. "What the Fed will think is this is a pretty good number," he says. "Not quite as strong as the 181,000 for the year to date, but still a respectable number." GoPro (GPRO) - Get Report shares plunged after reporting a 330% drop in profits year over year, or a net loss of $0.60 a share for its most recent quarter. Revenue of $240 million slumped 40% year-over-year. Starbucks (SBUX) - Get Report shares were in focus after reporting earnings of $0.56 a share, compared to $0.43 during the same quarter a year ago. Revenue of $5.71 billion topped estimates of $5.68 billion.