Shares of General Motors Company (NYSE:GM) ended Friday session in green amid volatile trading. The shares closed up +0.36 points or 1.13% at $32.16 with 10,828,387 shares getting traded. Post opening the session at $31.88, the shares hit an intraday low of $31.85 and an intraday high of $32.20 and the price vacillated in this range throughout the day. The company has a market cap of $50.80 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
On Aug. 1, 2016 Grand Rapids, Mich.-based lifestyle company, The Mitten State (TMS), has partnered with General Motors to develop an exclusive new line of t-shirts inspired by the company’s iconic and vintage performance cars. The new premium t-shirts offer a modern shape, fit, and feature a vintage look that is revved up to celebrate the passion of auto-lovers in authentic and fashionable designs.
The partnership was formed as a unique way to help General Motors celebrate its rich vehicle heritage. Being auto-enthusiasts themselves, the owners at The Mitten State, Scott Zubrickas and Will Bransdorfer, gladly accepted the licensing opportunity.
“General Motors approached us with the idea and of course we were thrilled to be a part of it,” said Will Bransdorfer, co-owner of The Mitten State. “Being fans of vintage muscle cars ourselves, and with Michigan’s historic connection to the automotive industry, we knew it would be a perfect fit. It’s been a fun history lesson working with GM to explore their logo and photo archives, some of which haven’t seen the light of day for decades.”
Shares of GoPro Inc (NASDAQ:GPRO) ended Friday session in red amid volatile trading. The shares closed down -0.40 points or -2.75% at $14.13 with 5,775,215 shares getting traded. Post opening the session at $14.57, the shares hit an intraday low of $14.04 and an intraday high of $14.70 and the price vacillated in this range throughout the day. The company has a market cap of $1.92 billion and the numbers of outstanding shares have been calculated to be 102.94 million shares.
GoPro Inc (GPRO) on July 27, 2016 announced financial results for its second quarter ended June 30, 2016.
“GoPro is well-positioned for the second half of the year. We now have a simple product line, a clean retail channel and clear indications of strong consumer demand,” said GoPro Founder and CEO, Nicholas Woodman. “HERO5 and Karma will contribute to the largest introduction of products in our history, all in time for what we believe will be GoPro’s most exciting fourth quarter, ever — a quarter where we expect to return to profitability.”
Recent GoPro Highlights Include
- Since the May rebranding of Quik and Splice, these mobile apps have doubled their combined monthly active users to 3.7 million and doubled the amount of shared content each month. Combined, these apps have 37 million cumulative downloads.
- The GoPro Mobile App was downloaded 2.6 million times in the second quarter, totaling over 30 million cumulative downloads; Q2 installs of GoPro Studio was 1.5 million, totaling over 17.7 million cumulative installs, with average daily video exports up 15.3% year-over-year to over 43,500.
- According to The NPD Group’s Retail Tracking Service, GoPro accounted for 6 of the top 10 products, including the top 3 spots, on a unit basis in the digital camera/camcorder category in the U.S. in the second quarter. HERO4 Silver remains the best-selling digital image camera on a unit and dollar basis for the seventh consecutive quarter. By our estimate, Session continues to be the #2 best-selling camera on a unit basis.
- According to NPD, GoPro’s second quarter combined digital camera/camcorder unit share increased 110 basis points year-over-year to 21.3% in the U.S.
- According to GfK, GoPro’s second quarter digital imaging unit share in Europe increased 110 basis points year-over-year to 9.4%. GoPro accounted for 4 of the top 5 camcorders in Europe on a unit basis.
- Revenue was up 20% to $221 million sequentially, driven by an 8% increase in units shipped to 759,000 and an 11% increase in average selling price. On a year-over-year basis, average selling price increased 14%.
- Unit sell-thru was up approximately 10% sequentially and was more than 50% higher than sell-in for the second quarter in a row, resulting in an estimated 35% sequential reduction in channel inventory.
- Inventory declined $50 million, or 36%, from the first quarter to $90 million, our lowest inventory level since the second quarter of 2014.
- GoPro announced an exclusive partnership with Reliance Digital, India’s largest Consumer Electronics retailer, that will put GoPro’s cameras, mounts and accessories, on the shelves of up to 1,800 Reliance Digital across India.