NEW YORK, NY / ACCESSWIRE / September 5, 2017 / GoPro shares saw a drop on Friday after video chip maker Ambarella, who serves Gopro, saw a big drop in share price after cutting its full year outlook. Sony also released a new action camera that could be serious competition for the company. Hewlett Packard shares also sank over 20% after announcing its software unit spinoff.
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Hewlett Packard Enterprise Company
GoPro, Inc.'s shares closed down 2.28% on nearly 3.4 million shares traded. Though there was no significant news from the company to explain the decline, there are a couple of things that traders could have reacted to. Traders could be reacting to the new camera that Sony announced; the RX0. Sony's new action camera is an advanced camera that has a 1.0" sensor with robust and compact body. The RX0 features 1″ stacked 15.3 MP6 Exmor RS CMOS 3:2 aspect ratio image sensor, BIONZ X processor and a wide-angle Zeiss Tessar T* 24mm f/4 fixed lens. Also Ambarella, the video-chip maker that serves GoPro, saw its shares drop 22% after slashing its outlook for the year. The fact that Ambarella also got two downgrades, may also not have rested well with GoPro traders.
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Hewlett Packard Enterprise Company's shares may have closed up 2.15% on Friday, but it was a sink of over 20% for shares after the company announced the completion of a software unit spin-off to British firm Micro Focus International. The software business includes the security platform ArcSight which is widely used. CEO Meg Whitman remarked, "With the completion of this transaction, HPE has achieved a major milestone in becoming a stronger, more focused company, purpose-built to compete and win in today's market. And, this transaction will deliver approximately $8.8 billion to HPE and its stockholders." The spin-off put an end to HP's relationship with Autonomy, a British company acquired by Hewlett in 2011 for $8.8bn. The company is expected to report its third quarter financial earnings on Tuesday after the close. HP has said in its announcement of the spin off that it would be adjusting its fiscal year 2017 guidance.
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