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Stock Updates: GoPro Inc (NASDAQ:GPRO), Hewlett-Packard Company(NYSE:HPQ), Facebook Inc (NASDAQ:FB); Orbit International Corp. (NASDAQ:ORBT)

Stock Updates: GoPro Inc (NASDAQ:GPRO), Hewlett-Packard Company(NYSE:HPQ), Facebook Inc (NASDAQ:FB); Orbit International Corp. (NASDAQ:ORBT)
Written by
Chris Billings
Published on
October 9, 2014
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Shares in digital camera manufacturer GoPro Inc (NASDAQ:GPRO) fluctuated between $92.03 and $88.97 during Thursday's morning session as news reports weighed in on whether Taiwanese smartphone manufacturer HTC's recently launched "Re" camera represented a challenge to GoPro's popular portable camera. HTC's "Re" has received widespread media attention with some agencies claiming it is a rival to GoPro's popular cameras. Although different in shape and scope, HTC's camera is waterproof and can be used to shoot photographs as well as video. Shares in GoPro Inc (NASDAQ:GPRO) were down 0.31% at $89.65 less than half an hour before midday on Thursday. Since the company launched on the stock exchange in June it has traded between $28.65 and $98.47.Citing the firm's confidence in management's execution of splitting the company in two, Morgan Stanley has reiterated its Overweight rating on Hewlett-Packard Company(NYSE:HPQ) and maintained its $40 price target. The decision by analyst Katy Huberty was based on "management meetings highlighted confidence in executing the separation into two units without meaningful disruption. However, M&A uncertainty remains a near-term headwind for share performance, with at least $12-16B of Enterprise acquisition capacity." Shares of Hewlett-Packard Company (NYSE:HPQ) are nearly 2% lower at $35.31 with a 52-week range of $20.34 to $38.25.Facebook Inc (NASDAQ:FB) should benefit from the release of its new Atlas ad platform, according to Cowen & Co., which estimates that combining Atlas with the existing Facebook Audience Network will represent incremental upside to 2015 results. Cowen analyst John Blackledge said Atlas spans mobile and desktop sites while giving advertisers access to Facebook's user data. He said it will permit advertisers to track performance and conversion of ads across multiple devices. Atlas should boost FB's programmatic capabilities, which Magna Global estimates will account for 42% of total 2014 display ad spend growing to 48% in 2015, according to Blackledge. According to FB, global ad agency Omnicom is already on board to use Atlas. Cowen has an Outperform rating on Facebook Inc (NASDAQ:FB) with a price target of $90.Orbit International Corp. (NASDAQ:ORBT) sank to a five-year low after it said Thursday it intends to voluntarily delist its common shares from the Nasdaq Capital Market and to subsequently deregister its common stock. Shares of the electronics manufacturer are down 9.86% at $2.47 near midday, and earlier hit $2.36 - the lowest level since March 2009. The company noted it is in compliance with all its listing requirements, but is eligible to suspend the reporting obligations because it has fewer than 300 stockholders of record. It has a market capitalization of about $12.3 million.The plans to delist come after the Orbit International Corp. (ORBT)'s board concluded "the costs of compliance, the demands of management's time and the company resources required to continue its SEC reporting obligations and maintain its Nasdaq listing were significantly greater than the benefits received by the company and its stockholders from being a listed company."

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