NEW YORK (TheStreet) –GoPro (GPRO) surged Wednesday after one of its suppliers posted strong fourth-quarter results and an analyst took that as a signal that greater growth lies ahead for the high-adventure video camera maker. Alibaba (BABA) also soared after it announced it was opening a cloud data center, and SanDisk (SNDK) gained following a product announcement.
GoPro soared 6.7% to close at $43.01.
GoPro soared 6.7% to close at $43.01.
The video camera maker's chip supplier Ambarella (AMBA) posted strong fourth-quarter performance and, more importantly, noted its fiscal first-quarter revenue would reach the $64 million to $68 million range. That was far above analysts estimates of $59 million in revenue.
With GoPro's supplier feeling a strong market lays ahead, so do some of the analysts who follow GoPro. JMP Securities, for example,pointed to such catalysts as GoPro's Hero4+ upgrade cycle, an expansion of its skill in taking advantage of opportunities in new media and an introduction to a cloud platform as some of the catalysts that will drive GoPro's shares higher, according to a report in Benzinga.
Alibaba surged 4.8% to end the session at $85.49.
That's quite a turnaround the for the Chinese e-commerce giant, which took a beating Tuesday after reports surfaced that alleged its Web sites had "fake" customer orders and, separately, the Taiwanese government planned to kick the company out of the region within the next six months.
Alibaba apparently received a lift after announcing it would open a cloud data center in Silicon Valley. The California site will be thefirst overseas expansion for Alibaba's Aliyun, a cloud data center business, according to the Los Angeles Times.
This U.S. expansion comes at a time when there are other large players already in the market, such as Amazon's (AMZN) AWS cloud operation and Microsoft's (MSFT) Azure.
That's quite a turnaround the for the Chinese e-commerce giant, which took a beating Tuesday after reports surfaced that alleged its Web sites had "fake" customer orders and, separately, the Taiwanese government planned to kick the company out of the region within the next six months.
Alibaba apparently received a lift after announcing it would open a cloud data center in Silicon Valley. The California site will be thefirst overseas expansion for Alibaba's Aliyun, a cloud data center business, according to the Los Angeles Times.
This U.S. expansion comes at a time when there are other large players already in the market, such as Amazon's (AMZN) AWS cloud operation and Microsoft's (MSFT) Azure.
SanDisk popped 4.5% to close at $82.68.
The company surged after its announcement Tuesday that it would offer a new storage array that relies on flash memory derived from its joint-venture with Toshiba. SanDisk's new flash storage system, InfiniFlash, aims to increase data speed while also cutting the cost of flash, notes a Barron's report.
Not only did SanDisk introduce InfiniFlash, but earlier this week it introduced a new microSD card that can hold a sizable 200 GB of data, as well as a new NAND flash module for tablets and smartphones that will support information transfer speeds of up to 1 Gbps.
The company surged after its announcement Tuesday that it would offer a new storage array that relies on flash memory derived from its joint-venture with Toshiba. SanDisk's new flash storage system, InfiniFlash, aims to increase data speed while also cutting the cost of flash, notes a Barron's report.
Not only did SanDisk introduce InfiniFlash, but earlier this week it introduced a new microSD card that can hold a sizable 200 GB of data, as well as a new NAND flash module for tablets and smartphones that will support information transfer speeds of up to 1 Gbps.
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By Dawn Kawamoto
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